Letters

Time to trim pensions of city workers?

June 11, 2006. Point/counterpoint on public pension policy in the New York Daily News. No.  Municipal workers deserve a decent retirement. By James A. Parrott, Fiscal Policy Institute While Mayor Bloomberg is taking a prudent step in establishing a retiree health trust fund, he has taken a wrong turn in seeking to reduce pension benefits for newly hired city workers. Many large corporations, from United Airlines to Delphi to IBM, have destroyed or diluted the promises they made to their employees about retirement security. Some [...]

2020-11-13T15:11:24-05:00June 11th, 2006|Letters, Social Policy|

Who’s right on pension costs – the MTA or the TWU?

December 22, 2005. One of the issues raised by the late December 2005 strike by Local 100 of the Transport Workers Union (TWU) was the future of pension or retirement plans for American workers.  A debate has also ensued about the validity of the claims by the Metropolitan Transportation Authority (MTA) that pension costs are a significant cause of its projected budget gaps in 2008 and beyond, and about the pros and cons, from a policy perspective, of the MTA's efforts to cut back on [...]

Little in the Middle

September 4, 2005. An op ed by David Dyssegaard Kallick, New York Times. ON this Labor Day weekend, here's something to think about: New York City's middle class is shrinking. Once a solidly middle-class place, New York has become a city of rich and poor. What's going on, in part, is a worrisome shift in the structure of the New York job market. The economic boom of the 1990's didn't do much to lift middle-income New Yorkers; people in the top 20 percent captured virtually [...]

The Federal Income Tax Deduction for State and Local Taxes Paid

May 23, 2005. This deduction is a key element of American federalism and a protection against double taxation: Allowing taxpayers to deduct the state and local taxes that they pay in calculating their federal income tax liability is an essential part of a governmental system in which the federal and state governments have independent sovereign taxing authority. In the American federal system, when people pay state and local taxes, they have less money left over to pay federal taxes. Thus, when it comes to the [...]

2020-10-27T13:07:10-04:00May 23rd, 2005|Letters, Tax & Budget|

Low-wage New York workers deserve a raise

November 29, 2004. A letter to the editor by FPI's senior economist, Trudi Renwick, Albany Times Union. Your Nov. 12 editorial about the rise of poverty among working families in New York correctly pointed out that one solution to this problem would be an increase in the state's minimum wage. In July, both the Senate and Assembly passed a bill to increase the state's minimum wage. The bill, which would have established a state minimum wage of $6 per hour on Jan. 1, $6.75 per [...]

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