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Opinion: Instead of Arguing About Reopenings, Let’s Unite for Systemic Change in Our Schools

3 Comments

  • Peter Goodman
    Posted December 5, 2020 at 4:02 pm

    You cannot tax someone because they are wealthy, you can only tax income, the NYS Constitution specifically prohibits

    “Intangible personal property shall not be taxed ad valorem nor shall any excise tax be levied solely because of the ownership or possession thereof, except that the income therefrom may be taken into consideration in computing any excise tax measured by income generally. Undistributed profits shall not be taxed.”

    “Tax the billionaires” is a wonderful slogan, there is no “pot of gold” at the end of the rainbow ….

    • Jake Jacobs
      Posted December 7, 2020 at 2:49 pm

      The current millionaires tax proposals are on income, not wealth, and our neighbors in NJ just passed an income tax hike on the ultra-wealthy and other nations not steeped in pay-for-play corruption have done this for decades — but there are many other revenue raisers that could be passed as well.

      TAX-THE-RICH REVENUE PROPOSALS FOR 2020: These measures would raise over $35 billion per year.

      Ultramillionaires Income Tax: Sen. Jackson bill S. 7378 yields $4B to fund the CFE settlement/Foundation Aid funding

      Pied-á-Terre Tax: A yearly assessment on luxury non-primary residences worth over $5 million. See Senate Bill S.44 and Assembly Bill A.4540

      Stock Buyback “Corporate Greed” Tax: A targeted tax on destructive stock buybacks at the rate of 0.5 percent of the value of open market share repurchases. See Senate Bill S.7629

      Carried Interest Fairness Fee: A state-level surtax on “carried interest” fees charged by hedge fund and private equity managers. See Senate Bill S.303 (Hoylman) Assembly Bill A.3976

      Corporate tax reform to tax huge multinational corporations more: Progressive tax rate reforms and LLC filing fee increases targeted at multinational corporations.

      CEO Pay Gap Tax on Big Business: A targeted tax on publicly-traded corporations that pay their CEO 100 times more than average workers. See Senate Bill S.1659 and Assembly Bill A.7454

      Stop Subsidies for Real Estate Billionaires: Eliminate 421-a: Stop public subsidies for luxury development and redirect funding to affordable, homeless and public housing. See S.7238/A. 8848

      Corporate landlord tax: A new fee on mezzanine debt used by private equity and hedge funds for large-scale purchases of rent-regulated housing. See S.7231/A.9041

      21st Century Bank Tax: Reinstate a higher corporate tax on the biggest banks, private equity funds, hedge funds and venture capital firms. See S.3456/A. 8552

      Restore the Yachts and Jets Tax: Reinstate a state sales tax on luxury yachts and private jets. Senate Bill S. 7135/Assembly Bill A. 9053

      Data tax on digital advertising: Targeted tax on digital advertising by the biggest ad platforms

      Stock Transfer Tax: Stop rebating the small sales tax on Wall Street stock trading. See Senate Bill S. 6203/Assembly Bill A. 7791, or Senate Bill S. 3315

      • nyc101
        Posted December 7, 2020 at 5:29 pm

        Does Florida have any of these taxes?

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