Today in the Taxosphere
by Byrne Hobart
Mr. Donald Trump, famous for announcing the line “You’re FIRED” on the popular NBC show The Apprentice, was interviewed today by Neil Cuvato from the Fox News Network. Mr. Trump announced that he doesn’t approve of the proposed New York Assembly Democrats’ Millionaire Tax, which will bring millions of dollars to the hemorrhaging MTA.
Under the plan, people who earn over $1 million in New York state will pay an income tax surcharge of about 3/4 of 1 percent for five years. In all, it would raise over $5 billion for mass transit.
Mayor Bloomberg and Mr. Trump would contribute to the transportation funds as will athletes and high-paying corporate executives. Donald Trump says that most individuals, including himself, will flee the city and Manhattan will fall in shambles. Rush Limbaugh recently announced his Manhattan departure. I say they won’t leave, especially Mr. Trump. Mr. Trump has made a fortune during high tax season and I believe will continue to be a Manhattanite. His hair alone has its own zip code.
In other news there was an article today in the WSJ announcing that San Franciscans top the list of tax-filing procrastinators, in regards to filing within the last two days of tax season 2008. New Yorkers also love filing their taxes late coming in at third, and on the Top 10 list for the last eight years.
Still not done with your taxes? You’re not alone. While almost 78 million U.S. taxpayers filed returns to the IRS through March 20, that still leaves at least another 46 million taxpayers to file in the four weeks from March 20 through April 17 – about 11.5 million taxpayers per week – based on 2007 IRS filing statistics.