SOAK-THE-RICH STRATEGIES BACKFIRE IN STATE AFTER STATE

Subject: txt mny -
When David Paterson became governor of New York, he shocked New Yorkers by declaring that taxes were too high and that he had many friends who had left the state because there were better opportunities elsewhere.

Paterson quickly got rolled by the big-government wing of his own party, which passed a budget for this year with $6.1 billion in projected new taxes and fees, led by sharply higher rates starting for those earning more than $200,000 a year.

Asked if the budget made sense in the recession, an outgunned Paterson said: "None of this makes sense."

Revenue from tax increases was running 20 percent below projections and that, in particular, the wealthy were not paying up - they were leaving.

"You heard the mantra, 'Tax the rich, tax the rich,'" ... "We've done that. We've lost jobs and driven people out of the state."

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