New York's exceptionally wealthy state tax base is also exceptionally fragile, due to its heavy dependence on the highly volatile (and portable) investment-driven incomes of Wall Street workers and fund managers. Read More
Tag: Tax Burdens
The fact that New Yorkers overall now pay less to the federal government in income taxes than before the tax code was updated is “without question,” said E.J. McMahon, research director for the Empire Center for Public Policy, an Albany think tank. Read More
According to Ken Girardin, a labor analyst at the right-leaning Empire Center for Public Policy, every new police officer will cost the MTA roughly $56,000, which means the new personnel would initially cost the MTA roughly $28 million a year. Those costs should rapidly increase over time, as police salaries rapidly increase. Read More
Corrections Department employees qualified for average pensions of nearly $70,000, the highest average benefit for any agency grouping among the 7,990 New York City Employee Retirement System (NYCERS) members collecting their first full year’s worth of pension benefits in 2018, according to data posted today at SeeThroughNY.net, the Empire Center’s transparency website. Read More
Over half of the 668 school districts seeking voter approval for budgets on Tuesday, May 21 are presenting spending plans to increase property taxes as high as the 2011 property tax cap law allows, according to an analysis released today by the Empire Center for Public Policy. Read More
To restore the full deduction, E.J. McMahon, research director for the Empire Center for Public Policy, said congressional Democrats would have to line up behind tax hikes on very high earners, something that would be rejected by Republicans and the White House. Read More
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