Plan to Raise Taxes on the Rich Is Gaining Momentum - NYTimes.com
Do we ever learn? Really? Let’s go ahead and take some more money out of the economy. The thing is though, I’m afraid that despite their damaging effect, tax hikes are going to become more and more prevalent as desperate state lawmakers blanche at staggering budget shortfalls.
ALBANY — A plan to raise income taxes on wealthy New Yorkers is gaining momentum in the State Legislature as lawmakers continue to grapple with the state’s gaping budget deficit.
A group of Senate Democrats plans to introduce a bill on Tuesday that would impose an income tax of 10.3 percent on the highest-earning New Yorkers, a rise of 3.45 percentage points, and increase taxes on all households that earn more than $250,000 a year.
Source: The New York Times
