Paterson Rejects “Rumors” Of Another Tax On Wealthy

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Gov. David Paterson this morning shot down what he said were “rumors” that some state lawmakers are talking about another tax on the wealthy to help the state’s finances.

“I heard a rumor yesterday that some of my colleagues are talking about another millionaire’s tax and that would demonstrate, I would say, a completely addictive personality,” Paterson said this morning on 710-AM (WOR) in Manhattan.

Lawmakers and Paterson in April agreed to raise income taxes on individuals making more than $200,000 a year. But because of the poor economy and some of the wealthy packing up and changing their residencies (see Rochester billionaire Tom Golisano), Paterson said it has produced about 10 percent less than the $4 billion the state anticipated in new revenue.

“The rumor isn’t traceable to anybody, but somebody just mentioned that to me yesterday and I thought, I can’t believe at this point that we never get it,” he said.

Lawmakers and Paterson — who initially rejected higher income taxes on the wealthy — agreed to raise more than $7 billion in new taxes and fees in the current year’s budget to close a roughly $18 billion budget gap. The state faces about a $9 billion gap in the 2010-11 fiscal year, which starts April 1.

Senate Democratic Leader John Sampson, D-Brooklyn, told reporters this week that he would not support any new taxes or fees in the next fiscal year.

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  1. None of them really want a tax on the wealthy because they, themselves, by some “miracle,” have become just that. Count on a middle class increase.

  2. Oh, and count on a lot of it effectuated by chicanery and subterfuge. They’ll find ways to shift even MORE to local governments as they’ve already done (and continue to do) with the schools and health care. This way they can send out press releases that they’ve done a wonderful job keeping the State tax increases “low.” All of this at the same time that the Social Security Administration has informed our elders that the cost of living has not risen, and their benefits are frozen at last year’s rates.