(NY/NJ/CT) Gets Less Federal $$ for Taxes Pd ("cowboy capitalists" gain?)

[DeepModem Mom]

Region Gets Less Federal Money for Taxes Paid, a Study Finds
By RONALD SMOTHERS

Published: October 29, 2004


NEW BRUNSWICK, N.J. Oct. 28 - If the tristate region seceded and established itself as a separate country, it would replace the United States as the second-wealthiest nation in the world behind Luxembourg in terms of per capita income, according to a new study by Rutgers University.

Given their wealth and the nation's progressive tax system, taxpayers in Connecticut, New York and New Jersey pay a disproportionately high share of the nation's federal income and employment taxes, the study found. Those states rank 49th, 40th and 50th, respectively, in the amount of federal aid they receive per tax dollar, according to the study....

***

James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy and principal author of the study, said the figures underscore the responsibility that comes with affluence in a system of progressive taxation.

"To the degree that the money is going for valid public policy purposes, it is fine," he said. "But if it goes for subsidies and unfair tax breaks for cowboy capitalists in other states, then it is not fair."...


http://www.nytimes.com/2004/10/29/nyregion/29economy.html

[SoCalDem]

1. I heard a few weeks ago that WY gets 3 times what NY gets

for Homeland security money.. Gotta keep those cows safe..