Thursday, October 16, 2014
Tax Plan (Stephanie Thomas)
Hawkins has a different tax plan the his competitors, focusing his energy on a tax break for the ninety-five percent of New Yorkers and keeping the one percent with the regular tax payment, "By restoring the more progressive tax structure New YorkState had in the 1970s, we could increase revenues by about $30 billion a year. 95% of New Yorkers would get a tax cut by having the top 5% and particularly the top 1% pay the taxes they used to pay. $30 billion would add more than 20% to New YorkState's $140 billion budget. " I agree that a progressive tax will be beneficial for everyone except the top one percent, because it gives the lower classes more money to invest in businesses, buying property, and overall spending in general. Hawkins tax plan is exciting for everyone except the top one percent because they lose in this plan, the have to give more money to the government then the rest of the population. The richer half like getting tax breaks, so they probably will not support Hawkins or his plan. The rest of the New York population would benefit from Hawkins tax plan.
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