Posted on 08/06/2008 4:27:59 PM PDT by Libloather
New Yorkers feel the pinch, call for tax on rich
More than three-quarters of New Yorkers say they are feeling the pinch from pricey food and gas prices, and 80% were in favor of a so-called "millionaire's tax," according to recent polls.
Elisabeth Butler Cordova
August 06. 2008 3:13PM
The deteriorating economy continues to weigh heavily on New Yorkers’ minds, according to two polls released Wednesday.
With a remarkable one-month increase of 9%, 81% of New York residents say they are feeling the effects of rising food prices, according to a new Siena Research Institute survey. About 78% of New Yorkers say gasoline prices are having a somewhat serious or very serious impact on their financial condition, 4% more than those surveyed a month ago.
“These new higher prices hit lower income people first and hardest, but now wallets of every size are feeling the pinch,” said Douglas Lonnstrom, founding director of the Siena Institute, in a statement. This winter, he added, “people will have to choose among cutting back on gas, food or heat.”
Even as personal budgets feel the pinch, the city and state finances are also reeling from rising costs and budget shortfalls. Gov. David Paterson estimated last week that the state budget deficit for fiscal year 2009 stands at $6.4 billion, after having swelled by 30% in less than four months.
To help offset the shortfall, voters surveyed by the Quinnipiac University Polling Institute overwhelmingly approve of taxing the state’s richest residents with a “millionaire’s tax.” Nearly 80% of those surveyed, including a majority of Democrats, Republicans and Independents, were in favor of raising the state income taxes of residents who make more than $1 million a year.
More than half of the voters in the poll also favored the government cutting services and programs instead of raising taxes. The poll showed that 56% of voters would prefer to cut services, and an overwhelming 82% of Republicans supported it. Just 38% of Democrats back the cuts.
Those surveyed said that if a tax increase becomes inevitable, 58% of them would prefer raising sales taxes instead of increasing the state income tax. Of Republicans surveyed in the poll, 66% favored a sales tax hike, and 51% of Democrats did.
The millionaire’s tax vote disappointed at least one business leader, who called the proposal gimmicky.
“The fiscal policy of the state needs to be balanced through discipline,” said Ken Adams, chief executive of the Business Council of New York State. “I know the economy is tough and people are worried, but we believe the solution is to cut spending, not look for new revenues.”
The Siena poll surveyed 621 state residents and presents a margin of error of 3.9 points. The Quinnipiac poll queried 1,409 state voters with a margin of error of 2.6 points.
And when the (smart) millionaires move out, what then?
My only question - when should the poor give financial advice to the rich?
May they all choke on the remnants of the largesse they have voted unto themselves - each and every one.
Imagine that. A massive and overwhelming majority said “Tax the other guy”. This is no surprise.
Predictions?
Yep, all those millionaires will move out and their mayor will be exempt.
“More than half of the voters in the poll also favored the government cutting services and programs instead of raising taxes”
“To help offset the shortfall, voters surveyed by the Quinnipiac University Polling Institute overwhelmingly approve of taxing the state’s richest residents with a “millionaire’s tax.”
“.......tax that man behind the tree”
San Fran?
When you suits esp in NY metro area write big checks for politicians with a D what do you expect? You support these clowns now you pay the price.
NJ sucks even more than before. THEY WON"T GO THERE! My prediction - Floriduh. That way they can vote in both places!
Besides the tax the rich theme, I also got that people prefer cutting spending over higher taxation and if higher taxation was necessary, raising sales tax vs. income tax. Interesting. At least there’s some good news coming from this article.
Stupid is as stupid does.
Lunitic lefty scum-sucking democrats, blinded by their socialist training, go to steal more of what they do not deserve nor have earned rather than reduce the fraud they have committed that got them there in the first place.
They deserve every disaster they get.
absolutely idiotic !!!!
Last week I happened to be visiting a friend in Westchester County (NYC ‘burb). The topic of real estate taxes came up (as we passed the Clinton’s street). My friend observed that by comparison to real estate taxes in Westchester, Greenwich, CT is CHEAP!
Atlas will be expressing his indifference very soon.
Texas. No income tax.
CT or NJ
The United State of Alaska. ;-)
Because NY still sucks...and sucks.....and sucks.....and sucks.....and sucks.....and sucks.....and sucks.....and sucks.....and sucks.....and sucks..
Welcome to the Vampire State.
Dallas. I've been saying that it's the NYC of the South. Aggressive drivers, indifferent to courtesies and very money hungry (a good point IMO).
When you raise the taxes on the so called rich, they simply raise the price of the products they produce or sell. If you rely on to many taxes you are stealing from the poor. One thing that politicians know, the less money people have, the more control they have over them. What has happened to the Flat Tax or Fair Tax? I notice that neither candidate for President is talking about it. McCain better jump on the band wagon pretty fast.
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