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New York City may be the city where dreams are made of, but not if those dreams are paying low taxes.
That top rate may go even higher to 13.23 percent, says frontrunner and Democratic mayoral nominee Bill deBlasio, the city's ombudsman. DeBlasio's main opponent is Republican nominee Joe Lhota, former chairman of New York's MTA subway and bus system. Since I'm writing about New York City, I need to include this chart which shatters a common misconception about those who live there. The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. New FDA Regs Shake Up E-Cigarette, Cigar Markets Two weeks ago the Food and Drug Administration announced formalization of regulations designed to bring vapor products, cigars, and pipe tobacco under FDA control and review.


News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. New York City would even be a greater money drain than fighting in Nevada, which has no state income tax. Pacquaio has said that he has two or three fighting years left before he retires from boxing. Tax rates start at 8 percent and quickly climb, with a single person making over $25,000 already in the 10 percent tax bracket (see table).
Lhota says he supports the universal pre-K proposal but not tax increases; he says he would focus on rooting out inefficiencies in city government. People sometimes say, off the cuff, that a $250,000 or more income is "middle class" or "just getting by" in New York City.


The fight is seen as a must-win for Pacquaio to prove he still has what it takes to compete at a high level after his knockout loss to Juan Manuel Marquez last December and his controversial decision-loss to Timothy Bradley in June 2012.
The tax increase would affect 54,000 taxpayers (about 1.4 percent of the total), and would not involve income recapture.
Having visited occasionally, I can attest that the city has a high cost of living, and the Manhattan housing prices I see on Million Dollar Listing are certainly eye-popping. But the average New York City single filer earned $47,238 in 2009; the average married couple earned $92,671.



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