I only say that given the system we currently have; the fact is, WE ARE TAXED TOO MUCH as it is!!!
We should be REDUCING and ELIMINATING TAXES not RAISING and EXPANDING THEM, duh!
Unbelievable how the PRO-TAX AmeriKan MSM all of a sudden becomes a Grover Norquist disciple when it comes to THESE TAXES!!!!!!
"States risk it, raise tax on rich; Millionaires’ exit, economy take toll" by Michael Gormley, Associated Press | September 28, 2009
ALBANY, N.Y. - This year, New York’s deep-pocketed rich were required to dig deeper to help shore up state finances.
They now pay higher taxes on their income and on limousines and yachts, more to enter a horse in a race, and more to dabble in real estate. Meanwhile, many are losing millions from the closing of business tax loopholes, and those making over $1 million are losing tax deductions. It even costs more to hunt foxes or pheasants and have their taxes prepared.
Oh the POOR DEARS!!!
They STILL HAVE INCOME?
A ROOF over their head?
Then SHADDUP!!!!!!!!!
Also see: Lying Looters Large and Small: Secret Stashes and Secret Deals
Now, a half-dozen states in this recession-driven movement are nervously eyeing New York to see whether it is wise to demand so much from people rich enough to have a second home in less taxing states - and for whom a change of address can be its own tax break.
This while MILLIONS of AMERICANS are TOSSED FROM THEIRS!!!
Are you ANGRY YET, America? INSULTED at least?
Early data from New York show the higher tax rates for the wealthy have yielded lower-than-expected state wealth.
Yeah, EXACTLY WHAT HAPPENED in Mass.!!!
Governor David Paterson, who had warned that targeting the rich could backfire, fears that is just what happened.
But YOU are SOMEHOW STUCK WITH IT, average citizen!
Paterson said last week that revenues from the income tax increases and other taxes enacted in April are running about 20 percent less than anticipated. The concern about millionaire flight has prompted some states, including New York, New Jersey, and California, to increase the highest tax rates only temporarily....
But the SALES TAX -- or any other they raise -- ALWAYS SEEMS to be PERMANENT!!!!
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As the economy began to grow fast into another boom, something that isn’t expected now because Wall Street - which historically provided 20 percent of state revenues - is perhaps permanently downsized. “People aren’t wedded to a geographic place as they once were. It’s a different world,’’ said New York’s lieutenant governor, Richard Ravitch. He said last year’s surcharge on income taxes, set to last three years, probably won’t meet expectations.
So far this year, half of about $1 billion in expected revenue from New York’s 100 richest taxpayers is missing. The state budget office says losses suffered in the recession could be largely to blame, and it may still come in next year when filers exhaust their extensions.
Those seeking extensions nevertheless had to pay in April at least as much as they owed in 2008. The six-month extension for the balance ends in October, but given the hard times many filers probably did not earn much more than a year ago. State officials say they don’t know how much of the missing revenue is because wealthy New Yorkers simply left.
Went to Israel did they?
But at least two high-profile defectors have sounded off on the tax changes: Buffalo Sabres owner Tom Golisano, the billionaire who ran for governor three times and who was paying $13,000 a day in New York income taxes, and radio talk show host Rush Limbaugh. Golisano changed his official address to Florida, and Limbaugh, who also has a Florida home, announced earlier this year that he was relinquishing his home in Manhattan.
So the pill-popper had Manhattan apartment, huh? Hypocrite.
Donald Trump told Fox News earlier this year that several of his millionaire friends were talking about leaving the state over the latest taxes. Golisano, who created 5,000 jobs with his Rochester payroll processing company,
Pretty much describes what the federal government has done to America.
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