NYC needs its rich residents
NYC needs its rich residents Aspects and Angles/Shutterstock 17 percent of taxpayers earning six-figures or more account for 80 percent of New York Citys income tax revenue. The city’s tax system is heavily dependent on high earners. SHARE: New York City is highly dependent on a small and shrinking tax base. Just 17 percent of taxpayers earning six-figures or more account for 80 percent of the city’s income tax revenue, according to the city’s Independent Budget Office. Wealthy New Yorke...
Source: cityandstateny.com