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Poll Reveals New Yorkers in Favor of State Wealth Tax, Several Queens Officials Back Concept

(Jessica Ramos Twitter)

Feb. 10, 2020 By Kristen Torres

Several Queens lawmakers joined officials from a prominent teachers union Monday to unveil results of a new poll that showed broad support for a proposed state-wide wealth tax.

An overwhelming majority of survey respondents—92 percent—supported new taxes on New York’s millionaires and billionaires as a way to cover the state’s budget deficit, which currently stands at $6.1 billion.

The survey, which was conducted by Hart Research Associates and based on the response of 1,000 registered New York voters, revealed widespread support for a wealth tax on New Yorkers with more than $1 billion, and for a new tax on residents with incomes of more than $5 million. The survey was released by the United Federation of Teachers.

Survey respondents also supported a pied-à-terre tax.

“We won’t be able to survive in New York if we don’t get the wealthy to pay their fair share in taxes,” said State Senator Jessica Ramos in a tweet Monday.

Support for the new taxes spanned party lines, with 95 percent of Democrats, 87 percent of Republicans and 89 percent of unaffiliated voters backing the tax proposals, according to survey results.

City Council Speaker Corey Johnson came out in support of higher taxes for the city’s ultra-rich, and said he’s fighting for a state budget that asks the wealthiest residents to pay their fair share.

“I’m in Albany…fighting for a fair budget that asks the wealthiest New Yorkers to kick in a little bit more,” Johnson tweeted Monday.

State Senator Michael Gianaris—who represents Astoria, Long Island City and Sunnyside/Woodside— also voiced his support for the proposed taxes on Monday.

“In a state and a city that has incredible wealth as well as incredible poverty, it seems fair to ask those who can afford it to help chip in more so that we can properly address some of these priorities,” Gianaris said.

The New York State United Teachers Union said the poll shows New Yorkers believe taxing the ultra-rich is the right way to make “significant investments in critical state services,” such as education, health care, public housing and transportation.

The NYSUT also said imposing a wealth tax on the more than 46,000 multimillionaires living in the state would generate more than $12 billion in revenue for the state.

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10 Comments

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Claude

Democratic Party has abandoned so many off us Democrats, Then they want to know how Trump got elected, It is because of them and there Anti-American Policies.

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Wait sorry how is taxing billionaires anti-American?

Taxes provide services and infrastructure for America, did you know that?

I know, our billionaire president with his own airline brags about not paying any taxes at all. He’s afraid to release his tax returns, first president in history.

That doesn’t mean that ALL rich people don’t want to contribute.

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Casey

Tax these people right out of the state. Then who will they tax to raise money. Yup, you and me.

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ABoondy

brilliant idea to drive the rich out of the state. i’m not being sarcastic. if the rich leave, hopefully they take their companies with them and build a newer version of nyc somewhere better more open with modern infrastructure, not some condensed island with brutal summers. there is no saving this ancient hole of a city that digs itself deeper into a sad state of despair.

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Yeah very few rich people live here

Can you imagine the rich 1% ultra-wealthy elites like Trump would ever live anywhere near NYC?

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Mima

And so it begins…. socialism with capital S…. how about if young people who don’t get married, make kids and don’t even think to get a job because the state provides for them go back to school, try to get a job, don’t expect to live at the millionaires expense.

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im only saying

The only reason the democrats need to raise Taxes is because the keep creating social programs to entice their constituents to vote for them so they can stay in office. No wonder the republicans will clean house in November. Their platform is about small government, fiscal responsibility, balanced tax rate and job creation. Every democrat talks about raising taxes and spending. Really they haven’t a clue. And BTW the top 1% pays about 39% of all the income tax in the US. so they more than pay their fare share. But of course we wont talk about that. Now i will be accused of being a Trumper and getting my info from Fox.

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Mac

The state is picking up more and more of what the Federal Gov’t formerly picked up. A FTT (Financial Transaction Tax) is an efficient equitable and fairly painless solution to cover this shortfall. The Joint Tax Committee projected that a modest tax of 0.03 percent on all trades of stocks, bonds and derivative instruments would raise more than $400 billion over the course of a decade. ($40 Billion a year) This is roughly equal to 0.2 percent of gross domestic product (GDP. This would be enough money to cover 60 percent of the cost of the food stamp program.). This solution would need to come at the federal level who are causing much of the money crunch at the state levels. The wealthiest have been the disproportionate benefactors of federal tax reform however may feel resentment for being singled out or targeted with this particular proposal. To quote this article “We won’t be able to survive in New York if we don’t get the wealthy to pay their fair share in taxes,” said State Senator Jessica Ramos in a tweet Monday. Ramos seems to have a one track mind when it comes to coming up with funding and cost cutting measures. Her social and public policies on school discipline crime and incarceration are just ridiculous. We need thinkers in positions of power not self proclaimed victims looking for revenge.

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Gardens Watcher

Ramos and Gianaris need to go. As of last night, there’s finally a viable primary challenger for AOC. And where was AOC? Stumping for Bernie Sanders in N.H.

On Feb. 10, Former CNBC anchor Michelle Caruso-Cabrera filed paperwork to challenge freshman Rep. Alexandria Ocasio-Cortez in the Democratic primary for her Bronx-Queens congressional seat.

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