New York’s Non-Competitive Corporate Tax | NY Torch

In the letters section of today's Wall Street Journal, a Canadian takes aim at New York City's sky-high corporate tax burden: The effective combined U.S. federal, New York State and New York City tax rate of roughly 46% to 47% that corporations pay o...

Huh? | NY Torch

Addressing the possibility of mid-year cuts in school aid, which Senate leaders are pledging to avoid, Governor Paterson is quoted in today's Newsday as saying: "Seventy-one percent of the resources we spend on education are administrative. We can make a lot of cuts ... without touching the classroom or affecting teachers."

Pension blues, too | NY Torch

On the heels of Governor Paterson's gloomy budget update, state Comptroller Thomas DiNapoli announced the state's Common Retirement Fund has lost 20 percent of its value since April 1.  That would translate into a drop of $31 billion from the March ...

Muni glad tidings (or at least stable) | NY Torch

Even as states and municipalities face unprecedented capital-markets pressure as they try to issue new debt, Standard and Poor's currenty has no states on ratings-watch negative, or even with a negative outlook. (more…)...
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