But New York City, which Mayor Bloomberg once likened to a "," will do the opposite if it follows through with the mayor's idea to raise income and sales taxes early next year. Read More
Tag: New York City
In a column today, Times columnist David Brooks contrasts the auto sector with the financial sector. The column illustrates why the recovery of the financial sector will be less straightforward and more difficult than the recovery of any oth Read More
Today's Times has an about the city's efforts to lure more of the biotech industry to New York by subsidizing real estate in Brooklyn and Manhattan. It inadvertently makes the case for across-the-board tax cuts. Read More
The Wall Street Journal has run my op-ed on the risks New York City faces in its approach to fiscal and economic problems. The thesis is that the city's main economic engine -- Wall Street and the financial-services industry -- cold be at th Read More
Yesterday, another New York art auction went , with a Christie's sale bringing in $146.7 million against a "low" estimate of $240.7 million. "Of the 82 works for sale, 36, or more than 40 percent, of the auction went unsold," the Times repo Read More
Today, Mayor Bloomberg held his mid-year budget update at City Hall. Here is the big picture: The mayor is still planning for a severe but temporary downturn in revenues. But there's a very real risk -- one that went unmentioned by the mayor Read More
The some expenditure details of , northern California, pop. 117,000. Vallejo declared bankruptcy earlier this year after having unsustainably ramped up public spending in response to unsustainable tax revenues stemming from unsustainable property- Read More
Wall Street has been shaken to its foundations, state and city revenues are plummeting, the long term fiscal outlook grows grimmer every week -- and Mayor Bloomberg today announced with a municipal labor union. The 8,300 members of the Correction Read More