Saturday, July 23, 2011

What The New York Times Doesn’t Understand About Taxes

Posted on Apr 5, 2011
romana klee (CC-BY-SA)

By Moshe Adler

The Moshe Pit is Moshe Adler’s blog on economics, media and whatever else piques his interest. Get more here.

The idea was good: Get a reporter to find out what New York’s rich will do with the extra money they are going to have now that the new Democratic governor, Andrew Cuomo, has won his struggle against extending the “millionaires’ tax,” a surcharge that was instituted in 2009 on high-income families. The problem is, the story hinges on the numbers, and the numbers as reported by The New York Times are (this is turning into a disturbing pattern) all wrong.

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