Why should a police officer, a teacher, or a firefighter have to pay nearly the same income tax rate as a billionaire like Mayor Bloomberg? A tax that is basically flat makes no sense in New York City.
Earlier this month, Mayor Michael Bloomberg presented New York City's Financial Plan for the next four years. It demonstrates a stark new reality: there is no large surplus of revenues, as there has been in past years.
As I travel through the neighborhoods of this city, I hear a similar message from New Yorkers:
It's harder than ever to live here and raise a family because the cost of everything is going up. I hear these concerns -- and they can't be ignored.