Saturday, March 15, 2008

Bloomberg Whines About Taxes

The Democratic majority in the state assembly have been talking about a temporary (though it should be permanent) tax on those that make more than a million dollars a year. This boost would bring in an additional $1.5 billion to our treasury that desperately needs the funds. If anything, the money will help to save programs that help those that have the least among us and put a tiny dent into those that have beyond plenty. Unfortunately, the most public millionaire billionaire has to pout about this issue (as he does about many others).

From The NY Sun:

Balancing the state's budget on the backs of its richest citizens could make New York City a less desirable place to do business and even lead residents to move away, Mayor Bloomberg cautioned yesterday at a press conference in Queens.

"I think at this point, where we're in competition with other cities around the world for entrepreneurs and the best and the brightest, it's not the time to be raising taxes," he said in response to a question about a proposal by some Democratic Assembly members to raise income taxes by 12% on residents making more than $1 million a year. Supporters of the tax say it would raise $1.5 billion in state revenue a year and help to close a looming budget gap.

In criticizing the tax, the mayor contrasted the proposal with his congestion pricing plan, saying commuters could avoid congestion fees by changing their behavior. "They have an alternative — the alternative is to take mass transit," Mr. Bloomberg said. "If you were to raise taxes on a particular group of people, their alternative is moving out of the city and taking with it all of the revenues that they would generate."

No, sorry Mr. Mayor, you do not get to compare middle class renters and homeowners in the far reaches of the Bronx, Westchester, Brooklyn and Queens to the wealthy few that make more than a million dollars a year. That is just not gonna work with New Yorkers. The argument that rich people will leave the city is just a fear tactic that keeps the wealthy making more money and the poor being screwed even more than they have been already.