Cuomo Sells Democrats Out

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sato's picture

2 lies of omission in there. first is that if the people leave then their tax dollars will be gone, which is BS. when someone moves out, someone else moves in, so you lose nothing. the second is with 1% paying half of the taxes, as if they were doing it out of generosity and without those rich then there'd be less tax revenue. in reality tax depends on total income of a population, so if someone isn't paid as much because more of the money is going to middle and lower income workers, who then pay more tax, so the tax revenue doesn't change.

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danmanjones's picture

NYC top 1% pays nearly half the taxes because there's a small number of super rich people, mostly in Manhatten, & a huge number of low-income people. Most of the tax the mega-wealthy pay is on capital gains. It's a 'problem' that's very nice to have & it only applies to gains you make from your investments. Where are these Wall St critters gonna go? Alabama?

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