Wednesday, November 23, 2011

Millionaires, district by district

The Center for Working Families, a labor-backed think tank affiliated with the Working Families Party, issued a report showing the number of New Yorkers affected by a true millionaires tax would be largely concentrated downstate.

Using data from the Department of Taxation and Finance, the CWF argued that millionaires are clustered there and, as such, lawmakers upstate should have little reason to oppose modifying a tax on New Yorkers reporting more than $200,000 in income, which expires this year. Senate Republicans want to let the tax expire, as does Gov. Andrew Cuomo, a Democrat. They argue raising the marginal tax rate on the wealthy will result in their migration out of state, along with business. Assembly Democrats support continuing the tax,

See map and link here.

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