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Wednesday, December 17, 2008

Briefly on the New Budget

So we've been hearing about it for weeks, and finally Patterson released his new budget. It should surprise no one. Still, we hear the usual griping. Everything, pretty much, is being taxed. Except for two things which disappointed New Yorks keep forgetting.

1) Income Tax. HAS NOT BEEN RAISED. So as long as you spend less, stop feeding your vices, you should be ok. It may well come to Income tax being raised. Doesn't it always? But for now, be grateful.

2) Income Tax for the very rich. This I really don't get. Nothing's changed, some capital gains stuff that's all. The super rich of New York have certainly taken a hit. Their real estate and their equities have taken a nose dive. But for anyone who makes over 200k, their current tax load really isn't fair. After all, they own their property, and they're receiving all the benefits of ownership, while the majority of us wriggle in our extremely high rentals.

I'm sure Patterson had his reasons, but we ought to know them too. Let us decide whether or not to let them off the hook.

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