Angry New Yorker

Friday, May 02, 2003
Deal Sets City Tax Increases to Limit Layoffs by JAMES C. McKINLEY Jr.

ALBANY, May 2 — "Legislative leaders reached an agreement today with Mayor Michael R. Bloomberg that would allow New York City to increase taxes on sales and income to stave off severe layoffs the mayor had threatened.
In a separate action, the Legislature overwhelmingly passed the final piece of the state budget over the threat of a veto from Gov. George E. Pataki. That bill would increase the state sales tax for two years and impose a three-year surcharge on people in high-income brackets. The vote on the revenue bill set the stage for a veto-override battle that legislative leaders predict they will win.
Taken together, the state budget and the city aid package would cause the sales tax to rise one-quarter of a percentage point outside New York City and three-eighths of a point inside the city. Statewide, income taxes would rise to 7.5 percent, from 6.85 percent, on taxable earnings above $100,000 for single people or above $150,000 for married couples. City residents would pay a small added surcharge above that, yet to be decided. There would be no tax on commuters, even though the mayor had sought one.
If approved, the tax and aid package would help bridge a budget gap brought on by the city's worst fiscal crisis since the 1970's, which threatened to reverse New York's re-emergence as a livable metropolis
." [more]

Ok. Let's get this straight... we pay Fed taxes.. of oh, what, 28%, then social security of 7.5%, then NY state taxes of around 6%, then NYC taxes, then property taxes (which went up more than 19%), then a jump in subway prices of 33%, and then a sales tax on everything else of 8.75.
My question: what's left of MY money at the end of the day in this, the so-called "greatest" city in the world?

Comments: Post a Comment

This page is powered by Blogger. Isn't yours?