Thread: New Yorkers feel the pinch, favor of a so-called "millionaire's tax."

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  1. #1 New Yorkers feel the pinch, favor of a so-called "millionaire's tax." 
    An Adversary of Linda #'s
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    New Yorkers feel the pinch .

    David Paterson estimated last week that the state budget deficit for fiscal year 2009 stands at $6.4 billion, after having swelled by 30% in less than four months
    More than three-quarters of New Yorkers say they are feeling the pinch from pricey food and gas prices, and 80% were in favor of a so-called "millionaire's tax," according to recent polls.
    The deteriorating economy continues to weigh heavily on New Yorkers’ minds, according to two polls released Wednesday.

    With a remarkable one-month increase of 9%, 81% of New York residents say they are feeling the effects of rising food prices, according to a new Siena Research Institute survey. About 78% of New Yorkers say gasoline prices are having a somewhat serious or very serious impact on their financial condition, 4% more than those surveyed a month ago.

    “These new higher prices hit lower income people first and hardest, but now wallets of every size are feeling the pinch,” said Douglas Lonnstrom, founding director of the Siena Institute, in a statement. This winter, he added, “people will have to choose among cutting back on gas, food or heat.”

    Even as personal budgets feel the pinch, the city and state finances are also reeling from rising costs and budget shortfalls. Gov. David Paterson estimated last week that the state budget deficit for fiscal year 2009 stands at $6.4 billion, after having swelled by 30% in less than four months.

    To help offset the shortfall, voters surveyed by the Quinnipiac University Polling Institute overwhelmingly approve of taxing the state’s richest residents with a “millionaire’s tax.” Nearly 80% of those surveyed, including a majority of Democrats, Republicans and Independents, were in favor of raising the state income taxes of residents who make more than $1 million a year.

    More than half of the voters in the poll also favored the government cutting services and programs instead of raising taxes. The poll showed that 56% of voters would prefer to cut services, and an overwhelming 82% of Republicans supported it. Just 38% of Democrats back the cuts.

    Those surveyed said that if a tax increase becomes inevitable, 58% of them would prefer raising sales taxes instead of increasing the state income tax. Of Republicans surveyed in the poll, 66% favored a sales tax hike, and 51% of Democrats did.

    of rising food prices, according to a new Siena Research Institute survey. About 78% of New Yorkers...

    http://www.crainsnewyork.com/apps/pb...097/informatio...................
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  2. #2  
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    Let them stew in their own soup. Liberals answer to every shortfall in a budget is to raise taxes; tightening their belts and living within their means is off the table.
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