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
The net flow of funds from New York State to Washington was a famous obsession of the late , who collaborated on an (nicknamed "The Fisc") to track the numbers. Today, the federal government issued its annual accounting of one side of that ledge Read More
Today's from state Comptroller Tom DiNapoli says first quarter tax collections were $487 million below projections, in line with the trend reflected in Taxation and Finance data . DiNapoli's chose to focus on the bright side, noting that gene Read More
Don't look now, but there's a nasty pool of red ink spreading beneath the state's budget. If are any indication of things to come, Governor Paterson and the state Legislature need to start cutting right away. Read More