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Strong Majority Of New Yorkers Support Raising Taxes On Wealthy (According To Poll)

If you believe in Polls, we thought this article posted by Spectrum News was an interesting one! We would like to hear from real people in New York what they think about raising taxes in the comments below. This poll was conducted by Siena College which is supported by the government.

“A strong majority of New Yorkers support raising taxes on wealthy earners and profitable corporations to fund public programs, according to a new poll commissioned by Invest in Our New York Campaign and conducted by Siena College that was released Friday.

The poll found 74% of state residents believe taxes should go up for the highest 5% of earners. About the same percentage of respondents, and 72% of upstate residents, believe raising taxes on the rich should be the solution to address any state budget shortfall rather than cutting services, according to the poll.

In addition, 64% of people, including 79% of Democrats, said they would favor a political candidate who supported raising taxes while 27% said they would favor a candidate who supported cutting spending to control state spending.

“Working-class New Yorkers, the people who wake up each day to strive for a better future for themselves and their families, continue to be the victims of budget cuts and diminished state resources. In the meantime, the ultra-rich continue to accumulate wealth. If our leaders do not intervene, the affordability crisis in New York will only get worse,” said Carolyn Martinez-Class, campaign manager at Invest In Our New York. “This poll affirms that most New Yorkers agree: it is high time that the wealthiest among us pay their fair share of taxes to ensure a thriving, equitable environment for everyone. Governor Hochul and our legislative leaders must answer the call of their constituents and include common-sense policies in the 2024 budget that raise taxes on the ultra-rich and invest in our communities.”

Written by TaxConnections Admin | Posted in New York • Tax Hikes Proposed • TaxConnections

U.S. Senate Committee On Finance On Tax Hikes

JCT: Democrats’ Proposals Increase Taxes on Millions of Americans

Millions of Americans making less than $400,000 per year would see tax hike.

Washington, D.C.–The nonpartisan Joint Committee on Taxation (JCT) estimates the Democrats’ latest reckless tax-and-spend proposal will increase taxes on millions of Americans across every income bracket, with more than half of the tax increases on Americans making less than $400,000 per year.

“While Republicans’ pro-growth tax reform in 2017 reduced tax rates for all Americans in a way that increased the progressivity of the tax code and produced historic gains in job and wage growth, the Democrats’ approach to tax reform means increasing taxes on low and middle-income Americans to fund their partisan Green New Deal,” said U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho), who requested the analysis. “Americans are already experiencing the consequences of Democrats’ reckless economic policies. The mislabeled ‘Inflation Reduction Act’ will do nothing to bring the economy out of stagnation and recession, but it will raise billions of dollars in taxes on Americans making less than $400,000.”

According to JCT: