While Mayor Bloomberg has been telling anyone who would listen that we can't raise taxes on the rich (the ones who caused the whole financial mess in the first place), because they would leave New York City for Montana or some other place with lower taxes, he's been proven wrong (again).
Facts are facts: When
Those who did leave took with them about $38 million in revenue—at max. But the higher taxes, paid by those who stayed, generate $895 million annually. The same has been proven true in
What’s more, both
And this is
So... What is the State Senate waiting for? We need to pass a fair share tax bill now.