Taxes on iPods, Sodas and Massages to Save New York
“An iPod tax” – actually, for the music bought online – is one of the 137 goods and services which the governor of New York wishes to be submitted to the national fund, starting next year. Almost every kind of “fun”(most of the luxury goods, tobacco, beer, theater tickets) and also “necessities” (taxi rides, sodas, haircuts) will be more expensive in New York. That, because the city is presently confronting one of the biggest economic deficit of its existence. Should these prices not go up, governor David Paterson fears he might share the fate of the Californian governor, Arnold Schwarzenegger, who is currently leading the most important American state, but at the same time is dealing with enormous debts, continuously growing at a speed of $1.7 million an hour.
According to The Times, the state of New York became more and more money constraint, as the economic crisis brought down a few of its most important tax payers – Wall Street corporations. Consequently, in 2009, the state budget will be reduced by 15.4 billion dollars. In these conditions, Paterson presented the State Congress with a project of an austerity budget, adding the fact that his wish is not to raise all taxes in a non discriminating way.
The first area in range is the one of luxury goods, from which the state will automatically draw a 5% tax for jewellery and fur coats, worth over $20.000, cars worth over $60.000, yachts over 200.000 and private jets worth more than $500.000. This is the only way the authorities are willing to interfere with wealthy people’s assets. Basically, they do not wish to irritate them to a level that would make them change residence to a different state, where taxes are lower.
However, these are taxes that will affect most of the 19 million people living in New York. For example, everyone owning a car will have to change their current license plate with a new, reflective one, which will cost $25 a pair. Where sweet sodas are concerned, they will be taxed 18%, because of the sugar contained, which contributes to obesity. Also, any soda containing less than 70% fruits will be taxed. The only ones which will escape taxing will be diet sodas.
According to The Times, the state of New York became more and more money constraint, as the economic crisis brought down a few of its most important tax payers – Wall Street corporations. Consequently, in 2009, the state budget will be reduced by 15.4 billion dollars. In these conditions, Paterson presented the State Congress with a project of an austerity budget, adding the fact that his wish is not to raise all taxes in a non discriminating way.
The first area in range is the one of luxury goods, from which the state will automatically draw a 5% tax for jewellery and fur coats, worth over $20.000, cars worth over $60.000, yachts over 200.000 and private jets worth more than $500.000. This is the only way the authorities are willing to interfere with wealthy people’s assets. Basically, they do not wish to irritate them to a level that would make them change residence to a different state, where taxes are lower.
However, these are taxes that will affect most of the 19 million people living in New York. For example, everyone owning a car will have to change their current license plate with a new, reflective one, which will cost $25 a pair. Where sweet sodas are concerned, they will be taxed 18%, because of the sugar contained, which contributes to obesity. Also, any soda containing less than 70% fruits will be taxed. The only ones which will escape taxing will be diet sodas.
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