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Bloomberg Still Hates Millionaires' Tax
By
Jen Chung
Published Mar 14, 2011
Modified Mar 14, 2011
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By
Jen Chung
Published Mar 14, 2011
Modified Mar 14, 2011
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At the end of this year, a tax for New Yorkers with income over $200,000—also known as the millionaire's tax—will expire and Assembly Democrats want to extend a tax for those making more than million dollars a year. Even though it could be at least another $1 billion in much-needed revenue, guess who hates the idea? Yup, Mayor Bloomberg.
According to Empire, he said, "You want to drive business out, you raise taxes. That’s just not a good strategy right now. Sometimes you can raise taxes, sometimes you have to lower them. I think at this point, the governor’s made a commitment that there would not be any tax increases, so I don’t know that it’s terribly important what the rest of us think. The governor’s going to do this, and I will support him in that."
Bloomberg has expressed his distaste for this idea for many, many years. He once said, "They [the wealthy] are the ones that buy in the stores so that people that work in the stores have jobs in the stores, generate sales tax... The rich are the ones that go to the expensive restaurants where, as a matter of fact, I looked at a list the other day of restaurants where the staff is unionized. They're the expensive restaurants. They're not the cheap restaurants."
Tagged
mayor bloomberg
millionaires tax
ny state revenue
taxes
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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