NYC - Tax Capital of the World

Wall Street Journal - Link

I love the part about how democratic leaders are saying that the plan is of a "shared sacrifice." Then why are the public employee unions getting a 3% pay increase??? New York State is getting $10 billion in federal stimulus, but Albany plans to increase spending by 9% and they tell us that raising taxes are the only way to close the budget deficit.

Is there a problem here that the public does not know? It has always been true that the New York legislature is the worst state government. Its elected officials cannot change anything. The backroom leaders are the ones who draw the plan and get the rest of the legislature to rubber-stamp it.

No wonder folks are leaving New York for better opportunities elsewhere. According to Census data, 1.97 million New Yorkers have left. Any reason why???

Mayor Bloomberg proposes to increase the NYC sales tax to 8.75 per cent from 8.375. It is 7 percent in New Jersey except for special Enterprise zones where it is 3.5 percent.

I wonder if they going to start having fashion police man the tunnels and bridges entering NY from NJ to grab New Yorkers trying to save money.

I do feel sorry for folks living in Chicago, Cook County. Their sales tax rate is 10.25 percent, the highest in the country.