(10/18/11) A group of unions and advocates for the poor have begun a new push to preserve New York's income tax surcharge on millionaires. But Governor Andrew Cuomo says he's still against taxing the rich, unless it's a federal tax change. In Albany, Karen DeWitt has these details:
Calling their movement “99 New York” organizer Ron Deutsch says the groups want the income tax surcharge on the state’s top 1% of income earners to be extended when it expires New Year’s Eve, which he says amounts to a tax windfall for the rich.
“It is unacceptable to allow a $5 billion dollar tax cut to be enacted on December 31st of this year,” said Deutsch.
Governor Andrew Cuomo says he’s for taxing millionaires, but only if it’s done nationwide, as part of President Obama’s jobs package.
“Because then it wouldn’t put any state, and I’m concerned about this state, at a competitive disadvantage,” Cuomo said.
Cuomo says extending the tax only in New York would hurt business and cause the rich to flee the state.
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