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72% Of Voters Want To Extend NY's "Millionaires Tax," Despite Cuomo's Objections
By
Christopher Robbins
Published Oct 17, 2011
Modified Oct 19, 2011
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By
Christopher Robbins
Published Oct 17, 2011
Modified Oct 19, 2011
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According to a new poll conducted by the Siena Research Institute [pdf], 72% of voting New Yorkers favor hiking taxes on those making $1 million or more annually. 83% of Democrats support the measure, but 70% of independents and 55% of Republicans do as well. “It is supported by more than two-thirds of voters from every region of the state," pollster Steven Greenberg says. So why is Governor Cuomo death threats or no, still opposed to extending New York's so-called "Millionaire's Tax?"
While he's in favor of higher federal taxes on the wealthy, Cuomo has said that because New York is one of the most heavily taxed states in the country, keeping taxes high would lure all those "job-creating" wealthy people to Connecticut or New Jersey. Yeah, imagine how terrible New York would be if all the rich people left!
But the truth is that they probably wouldn't flee. A study conducted on New Jersey's experiment with raising a tax on those making $500K or more from 6.37% to 8.97% showed that over seven years, "the tax rate…had no measureable impact" on whether these wealthy people would stay in-state. True, the tax that Cuomo wants to expire affects singles who make $200K and couples who make $300K, but Cuomo can't be bothered with reading "studies" while he's out back waxing the Corvette.
Perhaps Cuomo should be confident in so brazenly bucking public sentiment: the poll also shows his approval rating at 71%, and notes that his "Honeymoon with Voters Shows No Sign of Faltering." And 70% of voters also believe he should suspend the layoff of 3,500 PEF employees and negotitate instead, which it appears he has just done.
Tagged
andrew cuomo
class warfare
connecticut
governor cuomo
millionaires tax
new jersey
rich people
taxes
Christopher Robbins
Christopher Robbins is a New York City reporter covering transportation, affordable housing, local politics, and criminal justice. His work has also appeared in New York Magazine, The Village Voice and The New York Times. Chris is a graduate of Patrick Henry High School in Roanoke, Virginia, and enjoys biking to Fort Tilden in the summertime.
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Gothamist is funded by sponsors and member donations
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