Support builds for higher NY income tax on wealthy

Feb 25, 2009 Full story: www.pressrepublican.com 28

ALBANY, N.Y. (AP) Proposals to increase income taxes on New Yorkers making $250,000 or more are gaining support in the Legislature and with the public.

As similar "fair share" tax bills progress in the Senate and Assembly, both controlled by Democrats, a new poll shows 51 percent of New Yorkers prefer raising taxes on the wealthy over budget cuts.

"The support is clear," said Siena College pollster Steven Greenberg. "There's no question of the strong support you see for taxing wealthier New Yorkers is because most New Yorkers won't be affected by them ... people tend to like more things that affect other people than bad things that affect them."

The poll found most New Yorkers 77 percent support proposals that would raise the income tax rate on those making $1 million or more a year, while 59 percent support raising the rate for New Yorkers making $250,000 or more a year. Just 22 percent prefer additional budget cuts in education and health care over raising the rate.

But opponents of the proposals say they will send employers packing.

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greed by any other name

Alpharetta, GA

#1 Mar 2, 2009
does anyone do the math?

Federal government wants to tax at 39.5% on incomes of $250,000 - that translates to $100,000 PER YEAR (or more) on that income.

NY State wants to make it even more.

That doesn't count Social Security, Medicare, sales tax.

I am sorry but that is about as unfair as it gets. Just because someone WORKS HARD for years, and makes a good income, there is no valid reason to take that money and give it to people who have mishandled their financial affairs, avoided working when possible, or made a living off welfare.

I believe in taking care of the sick and those physically unable to work, but this is a case of pure greed and ENVY on the part of the people who vote for this type of taxation.

Insist our government be respsonsible with the money that they collect. Instead of ever cutting their budget and MANAGING their finances, they just want to take more and more and more....

And believe it or not, when they've taken from "the so-called rich" they will come after the middle class as well.
Walt Chapleau

Virginia Beach, VA

#2 Mar 2, 2009
I have a very good friend who owns a business and employs 20 people. He told me that the tax increase on the "wealthy" and the projected costs of the new health care plans etc.left him with two choices. He will either move his corporate office off shore or close his business and retire.Jack told me that many small business owners have told him the same thing about their businesses.Increased taxes on the wealthy sounds appealing,but they are the very people who keep most workers employed. Jack has 20 employees that will be out of work when these new taxes become law.If people do not think beyond their emotions on this issue,they could find themselves in real trouble.I am neither a Democrat or Republican when it comes to this issue. Common sense tells you that business owners are about making money. When they no longer can make it, their primary motivation is to preserve what they have, not do their bit for the country.
BEAUTICIAN

Cobleskill, NY

#3 Mar 2, 2009
Well how about the Gov. wanting hairdressers to start charging sales tax on all services. I work in a Nsg. Home along with a shop in my home, and, i assure you that the residents in the Nsg. Home cannot afford any additional charges as they are on fixed incomes, i do not think this is fair to the hairdressers, after expences, we do not make all that much, people do not realize the over-head that is involved in owning you're own business, i am not complaining about low income because i love what i do, but, go after the big guys and leave us little ones alone.
MaxHeadroom

Warrensburg, NY

#4 Mar 2, 2009
And this is how it ends..NYC has been fighting for years to keep businesses in NY, real easy to move them to Jersey or CT..If this passes, businesses like IP, Kodak, IBM will be gone, and thousands more like them..And then it will be us paying the increasing bills..I'm getting old, I can probably survive this, but say goodby to your kids and grand kids, unless they can memorize "Would you like fries with that?", they will have to go far away for decent jobs..
Spike

AOL

#5 Mar 2, 2009
The wealthy can avoid paying most taxes thanks
to our over-complicated tax codes. Want to know
who gets stuck with the bill for all this rampant
gov't spending? Got a mirror?

Since: Jan 09

York Pa

#6 Mar 2, 2009
So what's wrong with people who make a lot of money (personal income not business) paying the same rate as everybody else who works? Personal greed is the problem. I am so tired of hearing the most highly-paid whine about having to pay the same as the "peons". Their response is usually to threaten to close the business. That's like saying "play my way or I'll take my ball home." Juvinile. Most workers I know work just as hard, or harder, than their bosses. They just haven't had the opportunities to advance as far.

Considering the afore-mentioned 39.5% tax rate: if you make 250k you're left with 151k after taxes, which is a heck of a lot easier living off of than someone making only 25k who's left with barely 15k!
Ti Resident

Round Lake, NY

#8 Mar 3, 2009
It's never going to happen. All the people that would have to vote in the increases are rich. Do you really think they will pass something like this? Never in a million years!
all the facts

Alpharetta, GA

#9 Mar 3, 2009
Moon Hare wrote:
So what's wrong with people who make a lot of money (personal income not business) paying the same rate as everybody else who works? Personal greed is the problem. I am so tired of hearing the most highly-paid whine about having to pay the same as the "peons". Their response is usually to threaten to close the business. That's like saying "play my way or I'll take my ball home." Juvinile. Most workers I know work just as hard, or harder, than their bosses. They just haven't had the opportunities to advance as far.
Considering the afore-mentioned 39.5% tax rate: if you make 250k you're left with 151k after taxes, which is a heck of a lot easier living off of than someone making only 25k who's left with barely 15k!
You obviously don't know much about the tax code and are probably one of those who pays little in taxes and expects someone else to pick up the tab! Those "people who make a lot of money" pay a much higher percent of their income in taxes than someone who earns in a lower income bracket.

If that was true, it would be one thing. People who make 25K pay maybe 10% federal income tax. If someone who has gone to college, maybe gotten an advanced degree - taken the time and money to make sure they make a good income, saved their money, worked 50-60 hour weeks, etc. to earn that 250K there is nothing wrong with them expecting to keep and help their families.

And what is wrong with having 150K leftover???? It is WRONG for others to expect those who have worked as hard as anyone else to earn a higher income pay MANY TIMES more than a lower wage earner. If someone wants to make more money - got to school or learn a good trade and WORK and SAVE! Don't expect someone else to pick up the tab for your expenses - that is GREED and ENVY, not equality.
Not a bad idea

Alpharetta, GA

#10 Mar 3, 2009
Moon Hare wrote:
So what's wrong with people who make a lot of money (personal income not business) paying the same rate as everybody else who works? Personal greed is the problem.
Actually Moon Hare, I think there is nothing wrong with people who make a lot of money paying THE SAME RATE as everyone else who works. I think it would be great if no matter what there was a flat tax rate - everyone paid the same PERCENT of their income in taxes.

As it stands now (and likely to get worse)... 40% of all Americans pay NO tax, those around 25K pay about 10% on up to the proposed 39.5% of someone who earns over 250K. Let's see how that adds up:

40% pay NOTHING. Zero.
25K pay about 10% or $2500
Proposed 39.5% of 250K earners will pay $100,000.

YOUR suggestion that we should all pay the same:

25K pay about 10% would be $2500 (no change)

250K paying abou 10% would be $25,000 (instead of $100,000).

Personally, I'd vote for that!
Why

Alpharetta, GA

#11 Mar 3, 2009
BEAUTICIAN wrote:
i am not complaining about low income because i love what i do, but, go after the big guys and leave us little ones alone.
WHY should the government "go after the big guys" and leave you alone?" Do you think you are entitled to pay less? Just because a bigger business employs more people and by law has to pay more taxes, provide more benefits than you do, they should ALSO pay more taxes? No one WANTS to pay taxes, but it is part of the way our government operates.

You say yourself that you love what you do, but I have to ask if that is really so if you aren't willing to carry your share of the weight. You are already paying less taxes and having less government restrictions and benefit requirements on your business than the larger ones.

Just because a business may be owned by a corporation - it is still people, just like you, working hard everyday to make that company successful and hopefully make a profit so they too can stay in business.
Spike

AOL

#12 Mar 3, 2009
Greed is not JUST buying yourself luxuries.
Greed is expecting police and fire depts to pick up after your mess.
Greed is not working but expecting others who do
to pay for your home,heat,food,education and
health care for you and all your little kids.
Greed is being too lazy to get off your fat ass
and vote but still expecting Uncle Sap to provide
you with everything no matter how much of it he
has to steal from someone else!
Understand greed NOW, Mr. Can't Spell??!
Propaganda

Alpharetta, GA

#13 Mar 3, 2009
Spike wrote:
The wealthy can avoid paying most taxes thanks
to our over-complicated tax codes. Want to know
who gets stuck with the bill for all this rampant
gov't spending? Got a mirror?
Unfortunately you are listening to propaganda if you believe the wealthy can avoid paying most taxes. Not only is it not true, the so-called wealthy can't take most of the deductions that lower income earners can take because the government phases them out as income rises. So not only are they paying a much higher PERCENT of their income, they are entitled to fewer tax-breaks.

But you are correct - we all are paying way more than we should. The government needs to cut back what it spends - just like any household does when the money doesn't go as far. The government almost never looks for cost savings, program elimination, etc. They just keep charging taxpayers more and more and more.

Since: Jan 09

York Pa

#14 Mar 3, 2009
all the facts wrote:
<quoted text>
You obviously don't know much about the tax code and are probably one of those who pays little in taxes and expects someone else to pick up the tab! Those "people who make a lot of money" pay a much higher percent of their income in taxes than someone who earns in a lower income bracket.
If that was true, it would be one thing. People who make 25K pay maybe 10% federal income tax. If someone who has gone to college, maybe gotten an advanced degree - taken the time and money to make sure they make a good income, saved their money, worked 50-60 hour weeks, etc. to earn that 250K there is nothing wrong with them expecting to keep and help their families.
And what is wrong with having 150K leftover???? It is WRONG for others to expect those who have worked as hard as anyone else to earn a higher income pay MANY TIMES more than a lower wage earner. If someone wants to make more money - got to school or learn a good trade and WORK and SAVE! Don't expect someone else to pick up the tab for your expenses - that is GREED and ENVY, not equality.
Actually you are wrong on too many levels to count. While not at the 6-figure level, my income is reasonably comfortable. Not comfortable enough that I have enough liquid assets to divert enough funds into contributions/investments that would qualify in significantly reducing my tax burden. I realize that the tax laws as written place a much higher rate on the top earners, but also know that those top earners can AFFORD to stash their money in places most people can't. So while one might be in the 90% tax bracket, it is only figured on 50%, 30%, 10% or less of total income. It's not unheard of by any means that a multi-millionaire ends up paying zero at tax time.

Show me how THAT is fair.
bernie

Cobleskill, NY

#15 Mar 3, 2009
MaxHeadroom wrote:
And this is how it ends..NYC has been fighting for years to keep businesses in NY, real easy to move them to Jersey or CT..If this passes, businesses like IP, Kodak, IBM will be gone, and thousands more like them..And then it will be us paying the increasing bills..I'm getting old, I can probably survive this, but say goodby to your kids and grand kids, unless they can memorize "Would you like fries with that?", they will have to go far away for decent jobs..
"When the night has come and the land is dark and the moon is the only light you'll see------Noooooooooooooo I won't be afraid. NOOOOOOOOOOO I won't be afraid---just as long as you'll------"-----Have a wee tad higher faith and speak more often with your GOD and I'am certain this dark cloud of uncertainty will also pass, revealing fairer skies, less the picture our natural pessimism now paints. There is always darkness before the light so lets all give it time to develope before jumping off the bridge with only forlorn hopes as your parachute.
Name one

Alpharetta, GA

#16 Mar 3, 2009
Moon Hare wrote:
<quoted text>
I realize that the tax laws as written place a much higher rate on the top earners, but also know that those top earners can AFFORD to stash their money in places most people can't. So while one might be in the 90% tax bracket, it is only figured on 50%, 30%, 10% or less of total income. It's not unheard of by any means that a multi-millionaire ends up paying zero at tax time.
Show me how THAT is fair.
Ok. If that is true - PLEASE list 2 or 3 of the places that people with a lot of money can AFFORD to stash their money that lower income people don't have access to. I bet you can't. In fact one of the best places for a LOW income person to earn a great deal of money tax-free (over time)is a Roth IRA. Something that (again)higher income families are not allowed by law to participate in.

Second, there is NO 90% tax bracket! The highest that ever existed was about 70% prior to the Depression. Current high is just under 35%.

Third, since it is not unheard of for a multi-millionaire to pay zero at tax time - can you name a few - how about even just one?

The issue is those individuals and small businesses (who employ 80% of the people in this country!) whom the 39.5% tax bracket is going to be unfairly placed.

True fact; 1% of the wage earners in this country pay 80% of the income tax. 40% of people in this country pay NO income tax. The middle 59% pay only 20% of the income tax collected. Those are public figures. Check them.
need more fact

Cobleskill, NY

#17 Mar 3, 2009
"40% of people in this country pay NO income tax."
I have looked for more information about what the income is of those 40%; and I think all I have found out is that this means actually ~40% owed no tax, having paid tax on their pay and not owing more. Does someone have a better description of what the income of those 40% who "paid no taxes"?
Amendment

Alpharetta, GA

#18 Mar 3, 2009
Here are a few descriptions of those 40%:

http://www.washingtontimes.com/news/2008/oct/...
a large number of middle- to lower-income workers... have no income-tax liability after taking tax credits and deductions the that Internal Revenue Service allows...
...the IRS says that nearly 46 million tax filers - one-third of all filers - had no tax liability in 2006..

http://www.politifact.com/truth-o-meter/state...
40 percent of Americans pay no income tax. This claim is supported by the Tax Foundation, a nonpartisan tax research group that promotes transparency in the tax code and economic growth.

and yes, it does include some low-income earners who paid taxes through their employer. General consensus is that this is "some but not many", but no clear number seems available. So I will amend my statement to say that 40% pay little (less than 10%) to no income tax.
need more fact

Cobleskill, NY

#19 Mar 3, 2009
Thanks, the Tax Foundation cleared it up for me a great deal.
I think when the statement is made that 40% pay no tax, most people infer that there is some type of fraud and/or dishonesty happening, when these are actually people who file (probably doing their own tax returns), follow all the rules, and are taking few steps to enrich themselves, 93% made less than $20K. Your average person is shocked by the statistic, but doesn't know who the 40% is. I don't think people who make less than 20K can generally afford to "pay" much more, certainly aren't even socking away an IRA or building much of a 401K. They are paying a third of that income in rent or mortgage, and so on. Probably barely "making ends meet" as it is.
Correct

Alpharetta, GA

#20 Mar 4, 2009
need more fact wrote:
Thanks, the Tax Foundation cleared it up for me a great deal.
I think when the statement is made that 40% pay no tax, most people infer that there is some type of fraud and/or dishonesty happening, when these are actually people who file (probably doing their own tax returns), follow all the rules, and are taking few steps to enrich themselves, 93% made less than $20K. Your average person is shocked by the statistic, but doesn't know who the 40% is. I don't think people who make less than 20K can generally afford to "pay" much more, certainly aren't even socking away an IRA or building much of a 401K. They are paying a third of that income in rent or mortgage, and so on. Probably barely "making ends meet" as it is.
I am sure that by and large you are correct. I do not think there is massive fraud, just a lot of people either working hard to make ends meet, or living off the government subsidies such as welfare.

The point is that many of the people in that 40% category contribute very little to nothing to the running of this country.

Showing how many people pay little to no taxes is meant to address the fact that people should not be able to live off the government and expect those who have worked extremely hard their entire lives to earn a good living for their families to pay the bill for someone who is fully capable of working and supporting themselves. Many could contribute if they worked 40 hours (or more) a week. This is not aimed at those who are unable to work due to age, illness, physical or mental handicap. If someone who is physically capable of working gets welfare, then they should be forced to work at some type of job for the government or local community to earn that money.

It is also meant to draw attention to the fact that our government needs to downsize - not increase expenses. It would be "wonderful" if everyone had every need met and taken care of, but the honest truth is that it isn't reasonable to expect that from our government or to expect everyone else to pick up the tab. That is unless you want to head down the road of socialism and slide into communism.
donkeyman

Yuma, AZ

#21 Mar 4, 2009
boy n.y. going chase these rich guys out of the state. they will show them whos the boss and we will all feel better because those rich guys got what was coming to them. well, wont we?

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