Results tagged “grim”

Mayor Bloomberg unveiled the 2010 fiscal year budget yesterday and acknowledged that that his proposed sales tax hike, which would raise the tax rate to 8.875%, is no fun. During the press conference, he said, "It is true that sales tax, if you have the same rate, is a regressive tax, but the bottom line is, the people that have more money buy a lot more things, and they spend a lot more of it. Is it a good tax? No. None of these taxes are good taxes... I'm not happy about raising any tax."