Assemblywoman Rhoda S. Jacobs:
Millionaires and multi-millionaires don’t need another tax break.
If nothing is done, people making over $1 million a year will receive a tax break,
lowering their taxes an average of $85,450. This is on top of the Bush-era federal
tax cut extended in January for another two years, providing an additional average
annual windfall of $128,832 to millionaires.
While millionaires and multi-millionaires are cashing in, working families throughout
the state are struggling with:
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higher property taxes
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higher prices for food and gas
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less money for our schools
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less affordable health care
Fact: Of the 1 percent affected — the millionaires — half are NOT even New York residents.
I support keeping the current tax rate paid by millionaires and continuing it until
Dec. 31, 2012, while providing 30 percent of the tax revenue to education (
A.7802).
Rhoda S. Jacobs
Member of Assembly
Room 736 Legislative Office Building, Albany, NY 12248 • 518-455-5385
jacobsr@assembly.state.ny.us
We simply can’t sit by as we give a special handout to millionaires and multi-millionaires,
while average families and our children’s educational futures are in jeopardy.
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