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Tag Archives: new york city
Paterson Proposes Increasing MTA Tax for City Businesses
In a follow up to Reggie’s post on how the State often seems to have a tails I win, heads you lose attitude toward the city, Paterson is pitching a tax increase. Crain’s reports on a proposed 59% increase in NYC’s new business payroll tax to help MTA close its latest budget shortfall. This would happen at the same time that the same taxes in the suburbs would fall by 50%. Even if one could accept that idea of raising taxes on businesses in the city, the MTA is used by a massive number of commuters, why shouldn’t they bare some of the burden of the system? The mayor said the tax would be “terrible economics, grossly unfair, and contrary … More >>
Tagged mta, new york city, paterson, tax
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In The Good Years, Take From NYC. In The Bad Years, Take From NYC.
The 1st lesson of Economics 101 is the rule of scarcity: An economy is faces with limited resources but unlimited wants and needs for these resources. But what happens when you have someone each year taking more and more of your resources? This is the dilemma New York City faces again. The worst kept secret in state and city relations is we have given billions more to the State coffers than we receive back. We have essentially bailed out the entire state year after year. But now that we are in a recession and New York City is facing the brunt it, Albany has decided that there’s no better time to take more from us. In Governor Paterson’s latest budget, … More >>
Tagged budget, mike bloomberg, new york city
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