Many New Yorkers who may consider themselves middle class will be paying higher effective marginal rates than billionaires under the "temporary" state and city income tax hikes recently approved by the State Legislature. Read More
Tag: Taxes and Spending
New York State needs to spend $7 billion more to finance a “sound, basic education” for all pupils, according to the group that successfully sued to overturn the state’s education finance system. What kind of tax hike would it take to pay for such a draconian solution? This memo explores the range of possible answers to that question. Read More
New York's newly enacted budget calls for the biggest state spending increase in 33 years without even including legislative additions blocked on constitutional grounds by Governor George Pataki. Read More
Here's some more evidence of how Gov. Cuomo's 29 percent personal income-tax hike for top earners is a risky proposition for New York City. In response to a request from City Councilman James Oddo, the city's Independent Budget Office (IBO) . T Read More
, the Empire Center's senior fellow and frequent blogger on this site, discussed state tax issues Wednesday on YNN's "Capital Tonight" program with Liz Benjamin. Also appearing was Michael Kink, a leading advocate of higher taxes. . Read More
In response to the Occupy Wall Street protest, a pair of Democratic state lawmakers from New York City is repeating some flagrantly inaccurate data about taxes in New York State. In an at Huffington Post, Senator Daniel Squadron of Brooklyn Read More
As expected, President Obama's calls for a return to pre-2001 income tax rates and new limits on itemized deductions for filers with incomes starting as low as $200,000 -- essentially the same thing the president proposed two years ago. [caption Read More