Re: higher state taxes

[robert <http://dummy.us.eu.org/robert>]

Interesting.  Maybe it's time to implement a maximum wage.

 > From: Noelle <http://dummy.us.eu.org/noelleg>
 > Date: Thu, 20 Jan 2011 12:37:03 -0800 (PST)
 >
 > >From Jodi Dean:
 >      What would an increase in the personal income tax of a size similar to 
 >      that 
 > of Illinois do for other fiscally troubled states? The New York Times examined 
 > this question in three embattled places, New York, Ca and New Jersey.
 > 
 >      In New York, an increase of two percentage points in the state income tax 
 > could raise about $9 billion and perhaps tip the state into surplus.
 > 
 >      In Ca, a similar action could raise more than $13 billion, which 
 > would cover just a portion of that stateâ??s yawning $25 billion deficit.
 > 
 >      In New Jersey, a jump of two percentage points in each of its income 
 > brackets could raise nearly $5 billion, which would probably leave the state 
 > with a $4 billion to $7 billion deficit. Under these assumptions, a household 
 > with the median income would pay at least $1,000 more a year in each of these 
 > states; a family making $200,000 would pay $4,000 more.
 > 
 >      That an income tax increase of such a size could not close budget gaps in 
 > Ca and New Jersey underlines the vast challenge confronting these 
 > states. In Ca, Mr. has proposed a deep, billion-dollar cut in 
 > higher education and $4 billion worth of cuts in services for the poor and 
 > unemployed. Even a substantial increase in its state income tax â?? already 
 > much 
 > higher than in Illinois â?? would only soften the harshest blows.