Higher Taxes Wouldn’t End Some Deficits

[alp227]

Source: The New York Times

As state governments struggle with the fiscal damage caused by the recession, an income tax increase has become a rarely used remedy.

Governor after governor has publicly forsworn the prospect of raising income taxes, preferring to talk layoffs and cuts in programs and public union benefits. To cite prominent examples, Democrat Andrew M. Cuomo of New York and Republican Chris Christie of New Jersey have ruled out income tax increases.

Still, cracks have appeared in the no-tax-increase facade. In Illinois, Gov. Pat Quinn signed a law that temporarily raises the income tax rate to 5 percent, from 3 percent. New governors Mark Dayton of Minnesota and Jerry Brown of California have talked of enacting or extending tax increases.

Set aside for a moment the ever-charged argument about whether income tax increases spook the wealthy and consider this question: 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, California and New Jersey.

Read more: http://www.nytimes.com/2011/01/20/business/economy/20tax.html?partner=rss&emc=rss&pagewanted=all

[Sherman A1]

1. By the very statement that they would not end some,

it becomes obvious that they would end others. So I think we need to increase taxes both Federal and State. If we want the services, we need to pay for them.

[No Elephants]

2. I thought Jerry Brown "talked of" letting the people of California decide.

And, sure, let's not do anything unless tbat one thing solves 100% of a deficit problem.

Until then, keep all spending and taxing just as they are.

How the mighty have fallen. The NYT used to set the standard for journalism. It has become a rag.

[quaker bill]

3. Keep taxing and spending as they are

until you run out of money before the end of the year, then shut government down?

[Lasher]

4. Spending cuts wouldn't end some deficits.

So there. :P

[bemildred]

5. That's because you didn't raise them high enough, Dummy. nt