Tuesday, March 3, 2009

How Many Workers is a Millionaire Worth?

The analogy may be a bit off, but you'll get the point. Writing in pain today because of the unending looting and lying. I think I've hit a wall, an overdose if you will. I simply can not continue to consume their outrageous and outright lies or the obfuscating deceptions and deceit. The agenda-pushing propaganda is painful, and it is hard to partake of the morning paper (which today I did not).

"States' revenue shortfalls may outlast recession; Lack of jobs, retail slump cut tax levies" by Michael Hill, Associated Press | March 2, 2009

NEW YORK - .... Even wealthy people with steady work are earning less taxable income because investment income is down. Losses for high earners add up fast because of progressive tax rates - a loss of $1 million in capital gains can hurt a state treasury more than dozens of workers losing $40,000-a-year jobs....

The reduction in Wall Street bonuses alone will cost New York nearly $1 billion in personal income tax revenues, State Comptroller Thomas DiNapoli said."

Yeah, I'm bleeding for New York City and it's billionaires.

Pffft!