THE SOLUTIONS:
SHARE OUR WEALTH
TOGETHER, WE CAN FIX IT
THE SOLUTIONS:
SHARE OUR WEALTH
TOGETHER, WE CAN FIX IT
There are commonsense things we can do RIGHT NOW to make New York strong for everyone:
Common Sense Thing #1
INCOME TAX INCREASE ON THE ULTRA-WEALTHY
SMALL CHANGES
(Affecting only 0.3% of NY taxpayers)
Increasing tax rates by only 0.5% on New Yorkers making more than $5 million and more than $25 million can have huge results.
For those making between $5M-$25M:
Current tax rate: 10.3%
Proposed Tax Rate: 10.8%
For those making over $25M:
Current tax rate: 10.9%
Proposed Tax Rate: 11.4%
BIG RESULTS
A 0.5% tax increase on the 0.3% of our state's wealthiest taxpayers would generate over $1 billion in much-needed new revenues.
Common Sense Thing #2
CORPORATE TAX REFORM
SMALL CHANGE
Increase the corporate tax rate by less than 2% for the wealthiest corporations; put NY on par with neighboring states.
Current corporate tax rate:
0
Proposed corporate tax rate:
0
BIG RESULTS
Could generate nearly $2 billion in much-needed new revenue while keeping NY taxes in line with our neighboring states.
LET'S ADD IT UP
These commonsense tax reforms would generate nearly $3 billion in revenue to invest in public services that benefit working-class New Yorkers.
That's $3 billion to invest in schools, families and critical public services. For some context, here’s what we could invest in with just $1 billion:
20,277 new teachers
Universal school meals for 4.5 years
for all public school students
Free tuition for 141,443 SUNY students
40% of all students
Clear $132M school meal debt
7.5 years worth
10,600 new nurses
at $94,480 salary
13,100 new police officers
Big Changes Are Possible
By having the wealthiest New Yorkers pay their fair share, we can make huge gains in healthcare, education, public safety, economic security and the future prosperity of our state, while helping to reverse runaway inequality.
Big Changes Are Popular
AN OVERWHELMING MAJORITY OF NEW YORKERS FAVOR TAX INCREASES ON THE ULTRA-WEALTHY
75%
Of New Yorkers in both parties who support higher taxes on incomes over $5 million.
80%
Of Americans who believe wealthy individuals and corporations don’t pay their fair share.