According to IRS data for 2008 nine of the ten most heavily taxed neighborhoods in the U.S. were in and around NYC. Neighborhoods ranging from Manhattan to Fairfield County, Connecticut accounted for 0.2% of all federal income tax filers. These folks paid Uncle Sam $16.5 billion representing 1.6% of all individual income taxes collected by the federal government. Looking at this in another way the “1%” paid eight times their representative share of the filing population. Eight times!
Where’s the outrage? Where’s the call for greater tax equality? How long before Stephen Schwarzman, David Koch, John Thain (all residents of the 10021 zip code), Jeff Immelt (10022), Lloyd Blankfein (10023), Vikram Pandit (10024) and Jeff Blau (10028) move into a tent city on the outskirts of Zuccotti Park? Clearly the only logical solution to rectify such egregious income tax inequality is to occupy the “Occupy Movement.”
Leave A Comment