New York Millionaires are asked to raise taxes for the rich
More than 40 millionaires in New York, including members of the Rockefeller family and Disney, are asking to raise taxes on wealthy residents. They believe that in this way they will help solve the problems of poverty and restore the infrastructure of the city.
Millionaires wrote a letter to New York Governor Andrew Cuomo.
“Like the residents of New York who contributed to the development of the state and benefited from its dynamic economy, we have the opportunity and the duty to pay a fair share. We can pay taxes in a larger amount, ”the letter says.
The letter was signed by: Abigail Disney (director and distant relative of Walt Disney), Stephen Rockefeller and Leo Hinderi (partner of InterMedia, which invests in the media business).
The state of New York uses a progressive tax scale. So, with annual income in 100 thousand dollars the rate is 6,65 percent (in addition, there is a federal tax in 25 percent). If a resident earns a million dollars a year, the state will receive 6,85 percent, the federal government 39,60 percent.
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