Posted by
Richard on Friday, October 03, 2008 2:33:01 PM
Did I just read this correctly? Governor Paterson of NY, stated he will NOT raise taxes even thought the state is going through fiscal woes.
"Paterson, a Democrat, said he feared Wall Street, which accounts for one out of every five tax dollars in the state, could slash bonuses by 60 percent and capital gains tax collections could plunge by about 50 percent. Paterson said Wall Street bonuses generate 30 percent of the state's taxes in the January to March quarter."
My jaw just dropped, finally a Democrat sees the association between higher taxes and decreased revenues.