Some awful ideas just keep turning up. Take, for example, the old state and city stock transfer tax. The last vestiges of the tax were effectively phased out in 1981, although technically survives due to a weird tax law quirk whose repeal has b Read More
Senate Democrats are "secretly considering" up to $1 billion in "new taxes on medical services" as an alternative to health care spending cuts in Governor Paterson's deficit reduction plan, according to in today's New York Post. Such a t Read More
New York State's tax receipts were down 7.7 percent in September compared to the same month in 2008, according to from the state Department of Taxation and Finance. In virtually every major category, the tax numbers were below the trends forecas Read More
There are no grounds for optimism in released this morning by state Comptroller Thomas DiNapoli. Net personal income tax receipts were down $83 million, or 4 percent, from the same month in 2008—and a full 12 percent below the August 2007 level Read More
The chairman of Britain's Financial Services Authority (similar to our SEC), Lord Turner, yesterday floated the idea of a global tax on financial transactions to shrink "a swollen financial sector," the FT . Turner admits that "the probl Read More
Today's WSJ that "a stream of hedge-fund managers ... are quitting the U.K." as the nation levies a new tax rate of 51 percent on people earning more than $250,000 annually, starting next April. "We have reached a tipping point, in term Read More
The Paterson Administration is backing off on plans to (finally) start collecting taxes on cigarettes sold by American Indian retailers, the Buffalo News . This will add $65 million in red ink to The decision drew immediate Read More
My in today's New York Post is about the fiscal folly (economics aside) of trying to balance the state budget with higher taxes on a relatively small number of affluent New Yorkers whose incomes and portfolios have dropped sharply in the re Read More