Plan to Raise Taxes on the Rich Is Gaining Momentum In NY

[babylonsister]

Plan to Raise Taxes on the Rich Is Gaining Momentum

By JEREMY W. PETERS
Published: February 9, 2009


ALBANY — A plan to raise income taxes on wealthy New Yorkers is gaining momentum in the State Legislature as lawmakers continue to grapple with the state’s gaping budget deficit.

A group of Senate Democrats plans to introduce a bill on Tuesday that would impose an income tax of 10.3 percent on the highest-earning New Yorkers, a rise of 3.45 percentage points, and increase taxes on all households that earn more than $250,000 a year.

The plan, which supporters estimated could bring in up to $6 billion annually to the depleted state treasury, is one of several options Albany lawmakers are considering as an alternative to the reductions in social services and smaller, more focused tax increases that Gov. David A. Paterson has proposed.

State legislators and the governor are finding themselves under increasing pressure — from the state’s powerful labor unions and liberal groups in particular — to raise taxes on the wealthy.

more...

http://www.nytimes.com/2009/02/10/nyregion/10millionaires.html?ref=nyregion

[Pharaoh]

1. Yeah! K&R

That's how it's done folks!

It's not fuckin rocket science.

:toast:

[Laelth]

2. May sanity prevail.

Those who benefit most from capitalism have a moral obligation to support those who live in the same country but do not share the same benefits.

:dem:

-Laelth

[Omnibus]

3. Now THAT'S what I'm SAYIN'!!

Now 49 states and the Feds need to follow their lead!

[Bread and Circus]

4. That needs to happen around the board and federally as well.

The key missing ingredient on all of this is to actually make the folks pay more for all the mess they created. Things didn't start massively sucking they way they have the past 8 years until Bush got his massive tax cut for the extreme wealthy.

[DLnyc]

5. A very reasonable and practical proposal.

I'm looking forward to this discussion.