Assembly Speaker Sheldon Silver, fresh from conspiring with Gov. Cuomo to raise state taxes on “the rich,” now proposes to do the same for high-earning city residents.
“People who can afford more . . . should pay more,” he huffed Wednesday.
Never mind that the top-earning 10% already pay 71% of city income taxes, as the Manhattan Institute’s E.J. McMahon noted on these pages last week.
Or how corrosive that philosophy is to investment in New York City — and to Gotham’s long-term fiscal stability.
We’re not kidding: “We did that [hiked taxes on top earners] in the state,” Silver said. “There’s no reason the city shouldn’t do the same thing.”….
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