President Barack Obama’s new health care plan really socks it to New York taxpayers and its bad news for residents of New Jersey and Connecticut, too.
The numbers are eye-popping. President Obama’s plan to tax investment income to pay for his health care package would force New Yorkers to fork over an additional $4.8 billion in taxes on money they get from interest, dividends and other investments.
But here’s the rub: a study by the Manhattan Institute finds that New Yorkers will pay 12 to 15 percent of all the funds raised by the new investment tax. New Jersey residents will pay 7 to 9 percent. That’s nearly 25 percent of the entire tax.
The hit to area taxpayers is so staggering that experts wonder how our congressmen and senators can support it.
Who needs to worry about terrorist attacking New York, Obama is doing a much better job…!
The people in New York area already pay some of the highest taxes in the nation.