Here Come the Tax Hikes

Yesterday Mayor Bloomberg announced the immediate cancellation of the city’s annual $400 property tax rebate checks. I always thought the rebate checks were a sham — they should have simply reduced property tax rate — but the canceling the program amounts to a de facto property tax hike. Mike is also proposing a 15% increase in the city’s income tax and a 3% hike in the city’s portion of the sales tax. And he says he’ll likely be asking for more tax increases in January.

Wow, good thing the city extended term limits so we could benefit from this guy’s financial wizardry. I’m sure Weiner, Thompson or any of the other mayoral wannabes could never have thought of raising taxes themselves.

1 comment for “Here Come the Tax Hikes

  1. November 6, 2008 at 2:22 pm

    I hear a huge sucking sound as businesses start disappearing from New York City. Some will fail due to the government engineered financial disaster. Some that have healthy businesses will move the whole business – or parts that aren’t dependant on the NYC location – somewhere else. More time and money will now be spent on tax accountants to figure out ways around the taxes.

    Didn’t Bloomberg know this was coming? Did he ever hear of the business cycle? Or did he think NYC’s economy was just going to do fine forever? He’s proven himself a very smart businessman. He must have seen the possibility of a downturn. I wonder why he didn’t do anything about it earlier when there was still time to be prepared. A smart businessman would plan for the future. Only a slimey politician would knowingly not act until the crisis was upon us so he’d have an excuse to increase his own power.

    If the shoe fits….

Comments are closed.