Mayor Bloomberg repeated a familiar refrain during his radio show on WOR yesterday: Why taxing the rich isn't a great idea. He said, "We can tax the rich, except that, if you haven't looked at the stock market lately, they aren't making any money." more ›

Governor Paterson introduced a budget, full of tax hikes and fees for things like regular soda, beer, movie tickets and online music downloads in addition to big cuts to education spending, to combat a $15.4 billion budget deficit this year and next. Many critics have argued that these taxes—aiming to raise $4 billion—are hitting regular people, and now Governor Paterson tells the NY Times the rich may be taxed. more ›