June 13, 2018. This article discusses how gubernatorial candidate, Cynthia Nixon, plans to raise taxes on high-earners and businesses to pay for her $7.4 billion education plan to expand access to college and boost spending on K-12 education. Multiple organizations, including the Fiscal Policy Institute, commented on her plans to raise taxes to pay for expanding education and mass transit throughout the state.
Jonas Shaende, chief economist at the left-leaning Fiscal Policy Institute, said he supported efforts to find more revenues through taxes on the wealthiest residents. While some critics of boosting taxes say high-earners would flee New York to escape increases, Mr. Shaende said many aren’t as mobile as they might seem. “There has to be a lot more happening on top of the tax situation to make them leave,” Mr. Shaende said.
Here is the link to the Wall Street Journal.