[Rembrandt]

“New York, for instance, imposed a “millionaire’s tax” in 2009 on those earning $500,000 or more, although the tax is expected to expire at the end of 2011.”

Walruses will be living on BLT’s and Jagermeister before New York kills the “millionaire’s tax.”

[Alberta's Child]

I wouldn't be surprised if NY let that tax expire. I'll bet they collect far less in revenue from it than they would have collected if they just had a flat tax rate for everyone in the state.

At the rate the financial services sector declining in New York City, we're soon going to be at the point where they only people who pay that "millionaire's tax" are going to be professional athletes, entertainers and maybe a handful of top executives.