Proposed Tax Hike Would Destroy Jobs by E.J. McMahon | | NY Torch

A majority of City Council members has called on the council leadership to back a city income tax surcharge of up to 55 percent on high-income New Yorkers. This $1.23 billion tax increase would have a devastating impact on the city's economy, leading to the loss of another 48,000 jobs, according to the Manhattan Institute’s tax policy analysis model. It would boost the combined state and city income tax rate to a maximum of 12.5 percent—nearly double the next-highest rate in any neighboring state.

Competitive Contracting of Bus Service: A Better Deal for Riders and Taxpayers | Reports

At a time when New York desperately needs to find ways of delivering public services more efficiently, its transit bus operations could prove to be a significant source of recurring savings for the future.

The key to unlocking these savings is competition—an essential spur to improved performance and efficiency that’s been missing from transit in New York for most of the past 50 years.

Bloomberg Budget Goes Easy on Headcount by E.J. McMahon | | NY Torch

Mayor Bloomberg's preliminary budget was surprisingly easy on city employees, even though personal service costs comprise more than half of the total budget. His proposed workforce reduction of 5,000 to 7,000 positions out of a total workforce of 306,000—20% higher than was previously reported—is many fewer than the number Mayor Giuliani proposed to cut in 1993 when he faced a similar budget gap.

Sizing up the State Payroll by E.J. McMahon | | NY Torch

By eliminating 5,000 state government jobs through attrition and early retirement incentives, Governor George Pataki’s proposed 2002–03 budget would return the total executive branch headcount to its lowest point in nearly two decades and ultimately save about $275 million a year, according to an analysis of quarterly full-time employee (FTE) estimates from the state comptroller’s office. Not counting the prospective job cuts, taxpayers are now saving $676 million annually as a result of the net reduction in the state workforce over the past seven years.

The Tax Whose Time Has Gone by E.J. McMahon | | NY Torch

New York City’s post-9/11 fiscal problems are prompting fresh calls in some quarters for reinstating the city’s commuter tax, which could generate as much as $500 million, to help close a projected budget gap of at least $3.6 billion. But the usual arguments for the tax just don’t stand up to scrutiny.

Threatened Tax Surcharge Hike Would Cost City 10,700 Jobs by E.J. McMahon | | NY Torch

Reimposing the full 14 percent surcharge on New York City’s resident income tax will cost New York’s battered economy 10,700 badly needed private sector jobs, according to the Manhattan Institute’s tax policy simulation model. As a result, our model indicates the revenue gain from a restored surcharge will be about $30 million less than has been projected.

Campaign 2000 Tax Proposals: What They Mean for New Yorkers | Reports

Tax cuts emerged as a major issue early in the 2000 Presidential campaign, with George W. Bush and Al Gore each emphasizing the savings he would deliver to middle-class taxpayers. Tax policy is also a sharp point of contention in New York’s Senate race, where Rick Lazio and Hillary Clinton have sparred over whether large scale tax relief is either desirable or affordable.
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