Saturday, March 25, 2023

Play

Georgia prepares for the end of COVID-19 emergency; comment period open for experimental nuclear tech in eastern ID; Mexican gray wolf population rebounds in Arizona.

Play

Lawmakers grill the CEO of Tik Tok over national security concerns, the House Pro-Choice Caucus aims to repeal the Helms Act and allow U.S. foreign aid to support abortion care, and attempts to ban or restrict books hit a record high as groups take aim at LBGTQ+ titles.

Play

Finding childcare is a struggle everywhere, prompting North Carolina's Transylvania County to try a new approach. Maine is slowly building-out broadband access, but disagreements remain over whether local versus national companies should get the contracts, and specialty apps like "Farmers Dating" help those in small communities connect online.

Millionaires to NYS: Tax Us, Please

Play

Monday, March 8, 2021   

NEW YORK -- More than four dozen New York millionaires have signed a letter to state lawmakers with a proposal to help the state recover from the economic impact of the pandemic: tax the rich.

The COVID pandemic has cost millions of New Yorkers their jobs and will leave an estimated $63 billion gap in the state budget over the next four years.

In their letter, the millionaires say the state should enact the taxes that are part of the proposed Invest in Our New York Act.

Mike Lapham, director of the Responsible Wealth project at United for a Fair Economy, said raising taxes on high incomes, billionaires, large inheritances, corporations, stock sales and capital gains could close that gap.

"The whole package could be as much as $50 billion a year," Lapham asserted. "It's not likely that they'll all get passed, but there's a lot of money there that could help the state and that wealthy people can afford to pay."

Some lawmakers claim if taxes are raised on the rich, they would move to a state with lower taxes, but Responsible Wealth said studies have shown that's not true.

Lapham pointed out since New York increased taxes on the rich in 2009, the number of millionaires who call the state home has actually risen by more than 60%.

"The reality is if you have a business, if you have a whole community, if you have been living in this state for years, you're not going to just up and move to some other state because your taxes go up by a few thousand dollars a year," Lapham contended.

In their letter to lawmakers, the millionaires said in fact they are the least likely to move because their taxes go up.

Lapham noted a one-time infusion of federal cash can't fix the state's long-term economic problems, but the wealthiest state residents have a vested interest in raising the standard of living for all New Yorkers.

"They are profoundly interested in having a healthy state to live in and having the state invest in things like public education, transportation and infrastructure," Lapham observed.

He added taxing those who can afford to pay will not only fill the budget gap, but reverse decades of growing economic inequality and make New York a state that works for everyone.


get more stories like this via email

Nevada is the only state with what is known as a summary eviction process. (Adobe Stock)

Social Issues

The Nevada Housing Justice Alliance, tenants, lawmakers and community leaders gathered at a news conference outside the Capitol in Carson City this …


Social Issues

Family caregivers provide valuable work to Washington state - even if they don't get paid. A new report puts a value to the unpaid work they do…

Social Issues

Advocates for Michigan's LGBTQ community are calling lawmakers' move to expand the state's civil rights law to include them a victory that's "been a l…


Illinois advocacy groups say they are educating policymakers on the benefits of hospital screening as a solution to prevent medical debt, both for low-income patients and the hospital. (volgariver/Adobe Stock)

Health and Wellness

A new report finds thousands of low-income or uninsured people in Illinois face medical debt that is depleting their savings and, in some cases…

Health and Wellness

The Iowa Senate has approved a measure allowing some medical facilities to be licensed as "emergency hospitals." This would be especially important in…

The Idaho National Laboratory is located near Idaho Falls. (MichaelVi/Adobe Stock)

Environment

The U.S. Department of Energy has opened a short public-comment window on an experimental nuclear technology in Idaho. The agency has released a …

Social Issues

School nutrition providers told Ohio lawmakers this week they're tired of hounding parents for school lunch money when their child's account accrues d…

Health and Wellness

A Georgia health advocacy group is concerned about people's health outcomes as the COVID-19 public health emergency is set to expire on May 11…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021