Word: yorks
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Dates: during 1960-1969
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Again according to the 1960 Census, average personal income in the New York metropolitan region (SMSA) was $2,422. However, this hides the fact that New York City's average personal income was $2,306 while the outlying suburbs...
Also important is the implied assumption that the wealth of the cities can be sufficiently expropriated for urban services. Again, this is not the case for New York or most other major cities. New York City can onlyuse those taxes delegated to it by the State, and then, in many cases, only up to certain rates. This applies to debt limitations as well...
...City is limited to taxes which are on the whole regressive: the poor pay proportionately more. According to unpublished research done at the National Bureau of Economic Research for fiscal year 1968-69, a family in New York City with a before-tax income under $2,000 paid 11.5 per cent in total City taxes. As family income rose, this steadily decreased to 5.7 per cent for a family with income between $10,000 and $15,000 Families making over $15,000 paid an average of 74 per cent, a slight increase but still less than for families with below...
What policy would the Mayor of New York follow if he were only concerned with maximizing the value of taxable property? One staff member in the Mayor's office explained: "The Mayor would probably find that he would have to abolish rent control to encourage new private investment in the housing market. This investment would be primarily in luxury apartments in Manhattan for affluent singles, eventually displacing many poor and moderate income families, mainly from Harlem. We are now effectively paying $50,000 an apartment in development subsidies and foregone taxes to provide public housing in parts of Manhattan...
EVERY December prior to the enactment of the New York State budget, John Lindsay has trekked to Albany to bang his head on the legislative wall. This past year he pleaded for help with his expected "gap in the budget" of over $500 million. Governor Rockefeller, "although expressing sympathy for New York City's fiscal problems," said he could not help Mr. Lindsay, for he too had a gap in his budget-$700 million...