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Cuomo proposal would raise top tax rate for New York City

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  • xraygoggles
    replied
    Great, there should be more progressive tax brackets. In every state, not just NY.

    But more importantly, the corporate income tax should be raised. That would make a much bigger difference than ordinary income tax rates.

    Leave a comment:


  • Dusn
    replied
    Originally posted by CordMcNally View Post

    You think it stops there?
    if they don’t stop the massive increase in debt then it will not stop there. The debt needs to be paid down at some point by someone. And no, I don’t think there’s a magic way to massively decrease government spending and at the same time stop businesses from going under, deal with covid, and save ourselves from a recession all at the same time. So I am for increasing taxes on incomes over a million.

    More importantly they need to close tax loopholes and simplify the tax code on a federal level but I’m not sure how much that applies to state taxes
    Last edited by Dusn; 01-20-2021, 10:01 AM.

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  • CordMcNally
    replied
    Originally posted by Peds View Post
    i mean, its on single 1.1MM or married 2.2MM.....

    im not shedding a tear.
    You think it stops there?

    Leave a comment:


  • Dusn
    replied
    Originally posted by Peds View Post
    i mean, its on single 1.1MM or married 2.2MM.....

    im not shedding a tear.
    But those income are like lower middle class in Manhattan.

    J/k. I’m glad he’s talking about ways to fix the debt. The ibankers will survive.

    Leave a comment:


  • Peds
    replied
    i mean, its on single 1.1MM or married 2.2MM.....

    im not shedding a tear.

    Leave a comment:


  • Random1
    replied
    You might have to change the I love NY slogan to I love Florida.

    Leave a comment:


  • CordMcNally
    replied
    Yuck.

    Leave a comment:


  • Cuomo proposal would raise top tax rate for New York City

    • Gov. Andrew Cuomo proposed raising taxes for the wealthiest New Yorkers to a top rate of 10.86%, up from 8.82%.
    • New York City residents would pay a top rate of 14.7% in state and local taxes, the highest income tax rate in the nation, Cuomo said Tuesday in an address unveiling his 2022 budget.
    • The tax increase is part of a multi-pronged plan to reduce the state’s historic budget deficit due to the Covid pandemic.
    https://www.cnbc.com/2021/01/19/cuom...t7percent.html
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