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New York Income Tax Rise Hinted as Budget Gap Grows
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Bloomberg
March 27, 2009
New York Governor David Paterson said next year’s record budget gap may be $3 billion greater than the $16.2 billion he announced earlier this week and hinted a tax increase on higher incomes is possible.
- A d v e r t i s e m e n t
“We are right now on the verge of cuts and service reductions that I would have to describe as life threatening,” Paterson said. “With situations like that, everything is on the table,” he said in response to a question about increasing the state’s income tax for high earners.
Paterson and legislative leaders said earlier this week that the deficit continues growing because of falling tax collections in a shrinking economy with rising unemployment. If next year’s deficit exceeds the $16.2 billion estimate, the spending plan would be amended, as lawmakers did twice in the current year.
The state Labor Department said yesterday that New York’s unemployment rate rose by a record 0.7 percentage point in February to 7.7 percent, the highest since 1993. In New York City, the jobless rate rose 1.2 percentage points to 8.1 percent in February.
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March 27th, 2009 at 3:48 pm
The people of NYC won’t stand for that.
March 27th, 2009 at 3:57 pm
Mayor Bloomberg has a FINE plan for you to pay ALL the bills (?)
March 27th, 2009 at 4:00 pm
LADIES AND GENTLEMEN! The unveiling of the war strategy…
http://news.yahoo.com/s/nm/200.....anistan_44
(…AND Pakistan , yay for nukes!)
RESIST, DISSENT, REVOLT!
SolarAbsolution Reply:
March 27th, 2009 at 4:00 pm
Off topic.. but.. ah well.
March 27th, 2009 at 5:05 pm
Do you know what a paid psyop troll is?
Do you live on a PrisonPlanet?
Are these InfoWars?
March 27th, 2009 at 7:08 pm
Learn the TRUTH about Obama. All in one place. The Obama Deception was just scratching the surface:
http://baracknobama.info/
March 27th, 2009 at 8:00 pm
The people of NYC won’t stand for it? Not to offend anyone, but doesn’t the city and state of New York sponser every tax increase that crosses congress? Is there a reason it costs a fortune to even cross the bridge to enter “the island”? I think you are sadly mistaken if you think “The people of NYC won’t stand for it”. They will, just as people in many parts of this nation that have accepted such crime. With the exceptions to Oklahoma, Texas, and others that have fought a good fight against the Nafta highways that “don’t exist”, our entire nation has traditionally rolled up their sleaves and given blood everytime some politician asked them to. This and Flint Michigan and the problems in California are only the beginning. Make no mistake, we are entering the era of “Escape from New York” and when the stuff really hits the fan… you would be wise to avoid ALL major population centers.
March 27th, 2009 at 11:27 pm
What they happen to experiment socially on in New York will end up happening to the rest of us……
March 28th, 2009 at 2:35 am
Governer Paterson is another uncle tom puppet like Obama,sell outs.
March 28th, 2009 at 8:58 pm
Oh no! The billionares on wall street might have to pay a few more percentage points on their “hard earned” salaries to the state. What terrible, terrible, news. Yes, you are all right the solution is for state to lay off teachers and police officers. While they are at it lets not provide free meals in school for the poor children. I say we make every child work before school so they can earn their lunch just so the geniuses on wall street dont have to pay another 2% of their salaries.
March 29th, 2009 at 5:20 am
define higher incomes, plz
April 2nd, 2009 at 11:09 am
That is just about all that is left is higher earners.
April 9th, 2009 at 4:45 am
Not that I’m totally impressed, but this is a lot more than I expected for when I found a link on SU telling that the info here is awesome. Thanks.