Manhattan Institute for Policy Research.
search  
 
Subscribe   Subscribe   MI on Facebook Find us on Twitter Find us on Instagram      
 
 
   
 
     
 

New York Daily News

 

A Tax We Don't Need

October 18, 2011

By E. J. McMahon

Albany: Re Richard Brodsky’s “New N.Y. jobs, by the thousands” (Op-Ed, Oct. 17): In proposing higher taxes on incomes above $1 million to pay for a jobs program, Brodsky claims that those targeted by his tax hike “now pay less in taxes than their share of the state’s wealth and income.” In fact, by one measure, New York taxpayers with incomes above $1 million now pay about 50% more than their share of taxes. The Division of the Budget estimates these taxpayers will pay 37% of all the state’s personal income taxes a year, although their share of gross income will come to 24% of the total. If their share of the tax burden were the same as their share of income, million-dollar earners would be paying $4 billion less.

Original Source: http://www.nydailynews.com/opinions/2011/10/18/2011-10-18_voice_of_the_people_for_oct_18_2011.html?page=1

 

 
PRINTER FRIENDLY
 
LATEST FROM OUR SCHOLARS

Pension Armageddon
Stephen Eide, 06-29-15

Pension Armageddon: Can California Voters Avoid It?
Stephen Eide, 06-29-15

Don't Count On A Leftward Push From Millennials
Kay S. Hymowitz, 06-29-15

King v. Burwell Changes Nothing. Obamacare Is Still Rife With Problems
Paul Howard, 06-29-15

The Message For Politicians In 'Jurassic World's' Shift Against Big Business
Nicole Gelinas, 06-29-15

A Machete Attack Recalls NYC's Bad Old, Pre-Giuliani Days
Myron Magnet, 06-27-15

If Andrew Cuomo Leaves The Subways To Hang, He Proves The Tea Party Right
Nicole Gelinas, 06-22-15

The Pope's Flawed Climate Math
Robert Bryce, 06-22-15

 
 
 

The Manhattan Institute, a 501(c)(3), is a think tank whose mission is to develop and disseminate new ideas
that foster greater economic choice and individual responsibility.

Copyright © 2015 Manhattan Institute for Policy Research, Inc. All rights reserved.

52 Vanderbilt Avenue, New York, N.Y. 10017
phone (212) 599-7000 / fax (212) 599-3494