Tuesday, March 31, 2009

A microcosm of the nation... New York

I'm not a Rush listener anymore. I used to be, but two things stop me now. I work with my kids during his broadcast hours, and frankly... I don't need any more negativity in my life. I am a self supplier.

But.... Rush commented on a situation in New York state, and presented it fairly well. Here's a short quote from his show transcript:

"Now, remember Mayor Bloomberg, who opposed this at one point -- I don't know where he stands on it now, but Mayor Bloomberg way back -- said (summarized), "Look, we got eight million people that live here, there are 40 or 50,000 taxpayers -- families, what have you -- that pay so much in tax that they essentially support the city -- and if they start to leave, we've got a big problem." He said, "Even if 5,000 of them leave, we've got a huge problem. We just can't run out there and keep raising taxes on the rich." The governor, Mr. Paterson, didn't hear him. "It's not just people earning over $500,000 a year that are going to get hit. A lower-tier tax increase would increase taxes by 14-1/2 percent for single people between 250 and $500,000 a year, and for married and joint filers earning 300,000 to 500,000. Taxpayers now hit the current top rate of 6.85% when their incomes reach $65,000. The Paterson plan would tax top-tier earners at 8.97%, the second-tier earners at 7.85%."
(Highlighting is mine)

I think New York state is a microcosm of the nations economy and politics. The few supporting the many... and the few are getting fed up and leaving the game.

1 comment:

William the Coroner said...

Hell, ever play the game Sim City? Raise taxes too high, people leave. Don't have enough to support services, people leave. They had no corruption and inefficency, but the game was from the late 80's.