Even Mayor Bloomberg of NYC warns against blindly raising taxes…
But late last week Mayor Bloomberg was channelling these columns when he said that raising taxes on high earners could drive them from the city. “One percent of the households that file in this city pay something like 50% of the taxes,” explained the Mayor. “In the city, that’s something like 40,000 people. If a handful left, any raise would make it revenue neutral. The question is what’s fair. If 1% are paying 50% of the taxes, you want to make it even more?”
Liberals and progressives, where exactly IS the money going to come from? Does it just “fall from the sky” with no consequences?
