Angry New Yorker

Tuesday, July 01, 2003
Tax Hike From Gotham Gazette...

"Mayor Michael Bloomberg signed into law yesterday an income tax increase that raises the tax from 3.648 percent to 4.35 percent for single New Yorkers who make more than $100,000 and married couples whose combined income is more than $150,000. The "temporary" tax hike is retroactive to January 1 but will be phased out over the next two years and is scheduled to disappear entirely after 2005. It will raise $644 million for the city. "The burden of the increase falls on those taxpayers most able to afford the increase," said Bloomberg during the signing ceremony where only one member of the City Council showed up." [more]

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