Skip to comments.Ithaca Town board shows support of raising taxes on wealthy
Posted on 03/11/2009 10:09:17 AM PDT by Behind Liberal Lines
ITHACA - The Ithaca Town Board supports raising taxes on New Yorkers who make more than $250,000 in order to stave off some cuts to education and healthcare and other "essential services."
The Board unanimously passed a resolution Monday urging state leaders to pass the Fair Share Tax Reform Act of 2009, which would increase tax rates for the top 3.5 percent of New Yorkers, according to their resolution.
Those with taxable income over $250,000 would see a 1.4 percent increase, to 8.25 percent of their total income. Those with income over $500,000 would see a 2.12 percent increase, to 8.97 percent total. Those with income over $1 million, would see a 3.45 percent increase, to 10.3 percent total.
"During the last 30 years, New York has reduced income tax rates on the wealthiest New Yorkers by more than 50 percent (from 15.375 percent to 6.85 percent) and eliminated high income tax brackets, so that working class families and the very rich pay the same tax rate: New Yorkers who make more than $40,000 a year are subject to the same marginal tax rate as those who make $400,000 or $40 million," the Board's resolution states.
"As a result, currently the richest 1 percent of New Yorkers pay 6.5 percent of their total income in state and local taxes, while the poorest 20 percent of New Yorkers pay 12.6 percent of their income in taxes."
The measure is expected to raise $6 billion, as a way to offset New York state's estimated $13 billion deficit in the 2009-10 fiscal year, according to the resolution.
The resolution will be forwarded to Gov. David Paterson, nine state Senators and Assembly members, and the state Association of Towns.
And, in other news, rain is wet, the sun rises in the east and dog bites man.
“The measure is expected to raise $6 billion”...
Not if people making more than $250,000 say F.U.! and move....
They’ll have to make it illegal to move..................
Maybe it’s just me, but maybe it isn’t a good idea to give the wealthy in your state good reasons to leave.
“Fair Share Tax Reform Act of 2009”
...they always to seem to find the perfect little catchy name! Then when people argue this, libs will say “What”!? Do you think it should be ‘The Unfair Tax reform Act’ and we lower your taxes you evil, rich SOB”?!
Straight out of Atlas Shrugged.
I imagine them as a gaggle of 70+ year old, hairy arm-pitted women and effete bearded gnomish men, in Che shirts who haven't showered since the last time Captain Beefheart played the local student center.
In their minds, they really believe they are changing the world. Weed helps maintain the illusion, I'm sure.
So, what's the problem?
Liberals ruin every single place they INFEST!
or to take condign second amendment action.
I expect a lot of rich NYers moving to more tax friendly areas in earnest this year. Places with small footprints for living.
Nobody seems to be crying that everyone, including the rich, have lost huge percentages of wealth since the market is tanking. Nope, we still gotta go after what people have left.
Yup, that’s a real encouragement to everyone. What happens eventually when YOU are in the class that ‘has too much’ and you’re the target...
That doesn't make any sense. The rich and poor pay the same percent of their income. Leftist math: when the answer just feels right.
Really there should be an extra tax for being poor. The poor use a disproportionate amount of government services. We should incentivize people to turn off the TV and do something useful with their lives.
The consistent message of Liberals is take from the productive to pay for the non-productive and support a government bureaucracy that creates no wealth.
People will leave and the Commies will still be wanting more money.
So, where are ya movin’ to, Ithaca? Come on down South where livin’ is easy and life is good.
If they really wanted “Fair Tax Reform”, they could require everyone to pay the same percentage of their income, including the welfare cases. Even if they increase welfare in some way other than cash to help make up for the shortfall in indigent cases, at least everyone would have, as Obama calls it, “skin in the game”. When votes to increase or decrease taxes makes a difference to everyone, not just target populations, then sanity has more of a chance of prevailing. This method of targeting parts of the taxpayers by demonizing them and then proposing onerous taxes has got to stop.
“So, where are ya movin to, Ithaca? Come on down South where livin is easy and life is good”.
...careful what you wish for. Northern libs go south to escape taxes and bring their idiotic voting habits with them.
So let's do the math: $40,000 x 6.85% = $2,740.
$400,000 x 6.85% = $27,400.
So what's the problem ????... Libs always forget that "it's all relative" thing.
There are always exception for politicians and bureaucrats, because none of the wealth that they control is their own. Look at the Pelosi hag. She flies to and fro across the country at the taxpayers' expense. How much you want to bet that this is NOT listed as imputed income on HER W-2?
go thru TOUGH classes in college, then med school
then internship, etc
and have $200,000 in loans to start practicing with a pampered and drug addled public
only to be told that your efforts are not anymore worthy of good income then say .
who faced a slack 4 yrs of college and a cushy internship, 9-3:30, weekends, holidays, Christmas time, spring break, Easter,Memorial Day, Labor day and MLK day plus whatever else they can scrounge up as days off
and take the impossibly "difficult" education major /sarcasm/ and never get fired and earn just about the same....
and retirement too, at 55!
And all this time I was led to believe NY was such a liberal and ‘progressive’ state. Yet they have been taxing their poorest citizens twice as much as their richest?
I am so shocked.
Most people who have large earnings have access to outstanding tax advisors. Many will move the income out of New York by selling their business operations to a remote holding company. They will then spend enough time out of state to avoid the appearance of tax evasion. With today’s communications infrastructure, management can actually be anywhere.
The tale of killing the goose that laid the golden eggs is lost on liberal politicians.
My thought too - you beat me to the post!
Only a politician could state that raising the rate from its current rate by an additional 1.4 is a 1.4% increase.
It is actually about a 20% tax increase when the 1.4 number is divided by the current rate.
That is like saying if I buy something for a dollar and sell it for $3.00 I will take my 2% profit and run.
Don’t worry. If they do this, there won’t be any rich.
...supports raising taxes on New Yorkers who make more than $250,000 in order to stave off some cuts to education and healthcare and other "essential services." The Board unanimously passed a resolution Monday urging state leaders to pass the Fair Share Tax Reform Act of 2009, which would increase tax rates for the top 3.5 percent of New Yorkers, according to their resolution. Those with taxable income over $250,000 would see a 1.4 percent increase, to 8.25 percent of their total income. Those with income over $500,000 would see a 2.12 percent increase, to 8.97 percent total. Those with income over $1 million, would see a 3.45 percent increase, to 10.3 percent total.Thanks geo.
they should raise it to 100%. I am sure there would be no negative repercussions at all.
I would like to see some of the wealthiest NY’ers who currently donate to Cornell and IC tell their respective colleges that they are going to stop doing so immediately due to the possibility of their taxes going up and this resolution.
that would be nice.
I heard that in NYC about 40,000 pay half the city income taxes, or city budget or something. Those 40,000 should move and let the 8 million freeloaders see what taxation is.