NY Afraid Not Enough Millionaires Have Moved Out-of-State

Why else would they do this?

New York Assembly Speaker Sheldon Silver is reportedly pitching a plan for an increased "millionaire's tax" aimed at 75-85 thousand New Yorkers making $1 million or more a year.

Political columnist Fred Dicker , who appeared on Wednesday's Good Day New York, says Silver secretly proposed a $1 billion tax hike on the highest income earners to Gov. Paterson.

The plan would jack up a current millionaires tax another 11-percent. The current "millionaire's tax" actually starts affecting people who have incomes over $200,000. High income tax earners would pay more than 13-percent of their salary in local taxes.

The highest one percent of income earners account for about 36 percent of all state taxes.

Do you know what's going to happen if this passes? The millionaire tax will yield even less money than it does now. Democrats make two significant mistakes with taxes like this:

• They assume millionaires are a never ending source of funds.
• They assume millionaires will not vote with their feet and leave the state.

Why do you think Rush Limbaugh lives and works in Florida now?  And he's not the only one that's already left the state.  There will be plenty more.