Rallies Across The State Tomorrow

What to look for (4.00 / 1)

Alternate solutions to balance New York's budget.

It's easy to complain.  The problem is, almost nobody is proposing serious alternatives.  Chances are we won't hear much in the way of solutions at the rallies either.

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by: Dan Jacoby @ Wed Mar 04, 2009 at 23:24:44 PM UTC

Surely you jest (4.00 / 2)

"The problem is, almost nobody is proposing serious alternatives.  Chances are we won't hear much in the way of solutions at the rallies either."

From the linked Fair Share Tax Reform site:

A fair solution to the budget crisis will have to include cuts to popular programs -- but the wealthiest New Yorkers must also pitch in and shoulder a reasonable share of the burden. Working families should not bear the brunt of the budget crisis alone.

Fair Share Tax Reform would roll back tax cuts for the wealthiest New Yorkers. Over the last 30 years,New York has reduced income tax rates for the wealthiest New Yorkers by 50% and eliminated high income tax brackets, resulting in $8 billion of lost revenue each year.

As a result, working class families and the very rich pay now the same marginal tax rate - 6.85%.

[Table didn't copy]

Modest increases in tax rates for only those New Yorkers making over $250,000 would raise an additional $6 billion of revenue for the state. The slight increases would affect only the wealthiest 3.2% of New York State tax filers.

These new rates would keep New York competitive with both neighboring states and states with comparable economies. New Jersey's top rate is 8.97% for income above $500,000; California's top rate is 10.3% for income over $1 million.

Much more analysis can be found at the Fiscal Policy Institute site
http://fiscalpolicy.org/

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by: Albanius @ Fri Mar 06, 2009 at 02:44:24 AM UTC

[ Parent ]

Huh?! (0.00 / 0)

Have you been living under a rock the past couple of months?  Some of us have been working on the alternative Albanius describes below for the past couple of months...

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by: Kluggy @ Fri Mar 06, 2009 at 15:50:53 PM UTC

[ Parent ]

Revenues are down, way down (4.00 / 1)

New Yorkers have to face reality - there are no easy solutions to our budget woes.  At least Gov. Paterson is trying with little or no help from state Republicans to stop the bleeding.  We need viable economic advisors helping with the budget.  We cannot leave it up to the State Senate or Assembly.  Comptroller DiNapoli has been giving out facts for months and it leaves one wondering - is anyone listening?  Special interest groups, unions, and political parties best inform their members we are on the edge of an economic precipice and if we don't join hands and pull ourselves back we will be taking a mighty fall.

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by: otsegoblue @ Thu Mar 05, 2009 at 12:59:07 PM UTC