{"id":5181,"date":"2011-12-08T17:10:44","date_gmt":"2011-12-08T22:10:44","guid":{"rendered":"http:\/\/blogs.northcountrypublicradio.org\/inbox\/?p=5181"},"modified":"2011-12-09T14:44:40","modified_gmt":"2011-12-09T19:44:40","slug":"afternoon-read-another-look-at-the-nys-tax-changes","status":"publish","type":"post","link":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/2011\/12\/08\/afternoon-read-another-look-at-the-nys-tax-changes\/","title":{"rendered":"Afternoon Read: Another look at the NYS tax changes"},"content":{"rendered":"<p>Many of you were confused (or perhaps annoyed) by the table I posted a couple of days ago in my <a title=\"Blog entry\" href=\"https:\/\/blogs.northcountrypublicradio.org\/inbox\/2011\/12\/06\/breaking-governor-cuomo-and-legislative-leaders-have-struck-a-deal-on-taxes\/\">blog entry<\/a> on the new tax rules, finding it somewhat internally contradictory.<\/p>\n<p>The investigative news organization (and <a title=\"Death investigation\" href=\"http:\/\/www.npr.org\/series\/133208980\/post-mortem-death-investigation-in-america\">sometimes<\/a> <a title=\"NPR\/Propublica brain injury story\" href=\"http:\/\/www.propublica.org\/series\/brain-wars\">NPR partner<\/a>) Propublica has an <a href=\"http:\/\/www.propublica.org\/article\/nys-tax-overhaul-said-to-raise-taxes-on-the-rich-actually-doesnt\">article today<\/a> that makes it clear why some are saying taxes are going down for the superrich, and others are saying they&#8217;re going up.<\/p>\n<p>Here&#8217;s a teaser:<\/p>\n<p><em>&#8220;Under the overhaul, which was <a href=\"http:\/\/www.businessweek.com\/news\/2011-12-08\/cuomo-tax-increase-on-wealthy-new-yorkers-approved-by-lawmakers.html\">passed on Thursday<\/a>,  one bracket of wealthy New Yorkers will be getting a bigger tax cut  than the taxpayers in any other bracket. Specifically, individuals  making between $500,000 and $2 million will pay 2.12 percent less in  state income taxes for 2012. In contrast, individuals making between  $40,000 and $150,000 are only getting a reduction of 0.4 percent, <a href=\"http:\/\/www.nytimes.com\/interactive\/2011\/12\/07\/nyregion\/proposed-changes-to-rates.html?ref=nyregion\">as this New York Times chart<\/a> shows.&#8221;<\/em><\/p>\n<p>What, you say? Everyone said they&#8217;re getting a tax hike! Well, they are, relative to the base tax rate in NYS:<\/p>\n<p><em>&#8220;New York Gov. Andrew Cuomo &#8212; and apparently, much of the media &#8212;  has been using New York\u2019s base rate of 6.85 percent to calculate the  \u201craised\u201d taxes for the rich. But for the past three years, wealthy New  Yorkers making more than $200,000 (or $300,000 for households) have paid  the base rate along with an income-tax surcharge on top of it. It\u2019s  also known as the \u201cmillionaires\u2019 tax,\u201d and it expires at the end of this  year.&#8221;<\/em><\/p>\n<p>Enjoy!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many of you were confused (or perhaps annoyed) by the table I posted a couple [&hellip;]<\/p>\n","protected":false},"author":75,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[10,20,6593],"_links":{"self":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/posts\/5181"}],"collection":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/users\/75"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/comments?post=5181"}],"version-history":[{"count":0,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/posts\/5181\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/media?parent=5181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/categories?post=5181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/tags?post=5181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}