skip to main content
skip to newscasts

Tuesday, July 16, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

After the Trump assassination attempt, defining democracy gets even harder; Trump picks Sen. JD Vance of Ohio, a once-fierce critic turned loyal ally, as his GOP running mate; DC residents push back on natural gas infrastructure buildup; and a new law allows youth on Medi-Cal to consent to mental health treatment.

view newscast page
play newscast audioPlay

Donald Trump is formally put up for GOP nomination and picks Ohio Senator J.D. Vance as his running mate. Former presidential hopeful Vivek Ramaswamy and swing state delegates consider ticket.

view newscast page
play newscast audioPlay

Enticing remote workers to move is a new business strategy in rural America, Eastern Kentucky preservationists want to save the 20th century home of a trailblazing coal miner, and a rule change could help small meat and poultry growers and consumers.

Experts: Taxing NY’s Wealthiest Won’t Chase Them Away

play audio
Play

Tuesday, March 24, 2009   

Albany, NY - A new study says New York’s richest residents aren’t likely to migrate from the state if their personal income taxes are raised, contrary to claims by Governor Paterson, New York Mayor Michael Bloomberg, and others. Raising taxes on the wealthy is one of the methods under consideration as Albany tries to close a budget gap estimated at $8 billion. The study, performed by the Fiscal Policy Institute (FPI), a nonpartisan research and education group, debunks the often-heard claim that the state’s richest residents will move away if their taxes are raised.

James Parrott, the FPI’s chief economist and deputy director, says the study concludes that progressive tax reform should be part of the solution.

"We just don’t see any empirical evidence that raising taxes on high-income individuals at a state level in this country – in the modest range that we’re talking about – induces wealthy people to change their location preferences; to consider or to actually move out of the state."

Researchers considered a variety of precedents, says Parrott, including a Princeton University study of what happened when neighboring New Jersey raised its top personal income tax rate to almost 9 percent in 2002.

"That study found there was no real adverse impact on the willingness of high-income people to continue living in New Jersey."

Moreover, says Parrott, New York’s current fiscal pressures largely stem from excessive tax cuts made over the last three decades.

Geri Palast, executive director of the Campaign for Fiscal Equality, which seeks to reform the state’s educational funding, says, in order to avoid harmful cuts in education spending, the legislature and the governor may finally be ready to approve a progressive tax.

"The Assembly has historically voted for this and I think they’re ready to go. I think the Senate – although they do have a slim Democratic majority – at the end of the day, will find the votes."

Governor Paterson and legislative Democrats are reported to have quietly agreed on an $8-billion, two-year tax hike on individuals making more than a $500,000 per year.

The full FPI report is available at www.fiscalpolicy.org.





get more stories like this via email

more stories
Wyoming's Bighorn Basin is located between mountain ranges that block the flow of moisture-laden air from both the east and west, making it one of the driest places in the state, according to the Water Resources Data System and State Climate Office. (BLM Wyoming)

Environment

play sound

Wyoming's irrigation infrastructure is aging and the state gets regular requests to update it but in some cases, project benefits may not outweigh …


Social Issues

play sound

The Republican National Convention is underway in Milwaukee and the assassination attempt on former President Donald Trump is a focal point. Voters …

Environment

play sound

University of New Hampshire scientists said a common aquatic plant called duckweed could help filter polluting runoff from dairy farms and so-called m…


Water parks are a good way to keep cool in the summer but the public health experts reminded parents to always supervise children playing in or near the water. (Adobe Stock)

Health and Wellness

play sound

Summer is usually a fun time to enjoy the outdoors with family and friends, but experts said Missourians should be taking precautions to keep a day …

Environment

play sound

Colorado is calling on solar energy entrepreneurs to put $156 million in Inflation Reduction Act funding to work accelerating rooftop and community-ba…

Sen. J. D. Vance, R-Ohio, is Donald Trump's vice presidential pick. Before his recent entrance into politics, he was perhaps best known as the author of a memoir about growing up in poverty in Appalachia. (Adobe Stock)

Social Issues

play sound

As the party announced Monday Sen. J.D. Vance, R-Ohio, is the vice presidential candidate on the GOP ticket, progressive groups said they are …

Social Issues

play sound

Plenty of political and social leaders are calling for unity and condemning political violence after this weekend's assassination attempt on former Pr…

Health and Wellness

play sound

Until the pandemic, telehealth and telemedicine were still outliers in health care but they have gone mainstream, especially benefiting underserved …

 

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