We’re talking about guys like Joey Buttafuoco out on Long Island, not guys on 5th Avenue like Donald Trump. An e-mailer writes that the State of New York reclassified many businesses from C to S corporation status, so they’re all now taxed as though their profits are personal income! These taxes are not supporting essential services; they are supporting the welfare state and bureaucrats. Don’t buy any of this talk of “sunsetting” them either. Once taxes or tolls go up, they stay up. Have they ever reduced the bridge tolls raised “temporarily” to pay for new projects? In addition, the legislature insists that the income tax withholding tables be increased enough to generate a year’s worth of revenue in less than a full tax year. So they’ll “adjust” your withholding to take a years worth of taxes out of your check in just six months. New York has instituted this per diem income tax on people who do not live there, too. Even if you’re not a New Yorker, your local state tax raisers will learn these tricks.
E. J. McMahon, a senior fellow at the Manhattan Institute, details this tax hike: “New Yorkers will be hit with at least $5.4 billion in new taxes over the next three years. That’s $1.8 billion more than the total amount of new taxes imposed during the last five years of Mario Cuomo’s tenure.” NYC’s combined tax rate will now be the highest in the nation at 11.35%. But even at that, New Yorkers aren’t working enough days as government slaves. Mayor Bloomberg and the City Council speaker have hiked the sales tax! These people falsely claimed that Gerald Ford told New York to “drop dead,” but they’re the ones who are going to kill it with this fiscal madness.
Liberals in New York are saying, “None of this would be happening if we hadn’t freed those damn Iraqis!” They forget that they were the first targeted in this war, and we fought to prevent the next 9/11. They may even hope to embarrass Bush when the 2004 convention comes to town. You liberals can blame this on whomever you want, but the point is this: You have your nirvana. You are the ones who are always saying the rich get too many tax breaks. The same goes for all of you who voted to make Jim McGreevey governor across the river in New Jersey. They say they’re going to “tax the rich,” but somehow all of you always end up getting screwed. We’ll see how you like it.
<span id=”Par_0008_col” style=”font-family:arial; font-size:12px; color:003399; font-weight:bold; text-decoration:none;”>Read More of Rush’s Brilliance…</span></td></tr>
<tr> <td><img src=”/0.gif” width=”1″ height=”0″></td></tr><tr width=”484″><td width=”484″ valign=”top”><span id=”Par_0008″ style=”font-family:arial; font-size:12px; color:000000;”><a target=new href=”/home/eibessential.member.html”>(…right here in Rush 24/7’s EIB Essential Stack of Stuff)</a></span></td></tr>