It seems many pay between 10-30%+ but just for federal income taxes. Most on the lower end.
That does not include any number of items out of your income like social security, state taxes, city taxes, ...
So it really galls me whenever folks see overspending and look for the answer to confiscate more from their wealthier neighbors.
It also strikes me when candidates worry about revenue shortages, though having over a million dollars in their treasury,
and will take from public taxypayer funds for their campaigns.
If I am not mistaken, our local official Vallone does
not take taxpayer funding for his campaigns. To be commended for this.
Recent reports:
http://gothamist.com/2009/01/23/each_nyc_residents_share_of_city_de.phpEach NYC Resident's Share of City Debt: $7,153
City Comptroller William Thompson found that capital projects costs, which are
"funded primarily with debt, has escalated by 187 percent since Fiscal Year 1990"
—which translates into a debt per capita of $7,153.
the city will will struggle to pay interest on its $59 billion "mortgage,"
"Capital projects that seemed affordable before may have been based on a revenue bubble that has since burst.
New York City leads other large American cities in average debt per capita by a margin of two-to-one.
Particularly in light of the City’s and the nation’s financial difficulties, it is imperative that now we redefine capital priorities
in order to achieve fiscal responsibility.”
http://online.wsj.com/article/SB123940286075109617.htmlopinion;
Like the old competition to have the world's tallest building, New York can't resist having the nation's highest taxes.
So after California raised its top income tax rate to 10.55% last month, Albany's politicians leapt into action to reclaim high-tax honors.
They can invite politicians from the at least 10 other states that are also considering major tax hikes, including Oregon, Illinois, Wisconsin, Washington, Arizona and New Jersey. One explicit argument for the $787 billion "stimulus" bill was to help states avoid these tax increases that even Keynesians understand are contractionary. Instead, the state politicians are pocketing the federal cash to maintain spending, and raising taxes anyway. Just another spend-and-tax bait and switch.
Mr. Silver says of the coming tax hikes: "We've done it before. There hasn't been a catastrophe."
Oh, really? According to Census Bureau data, over the past decade 1.97 million New Yorkers left the state for greener pastures -- the biggest exodus of any state. New York City has lost more than 75,000 jobs since last August, and many industrial areas upstate are as rundown as Detroit.
The American Legislative Exchange Council recently said New York had the worst economic outlook of all 50 states, including Michigan. And that analysis was done before these $4 billion in new taxes.
The new budget raises another $2 billion or so on top of the $4 billion in income taxes with some 100 new taxes, fees, fines, surcharges and penalties to be paid by all New York residents. There are new charges for cell phone usage, fishing permits, health insurance (the "sick tax"), electric bills, and on bottled water, cigars, beer and wine.
Topic: Conservative Tea Parties (Read 13727 times)
