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December 30, 2002

Bush Aid to NY: Help the Rich

As this indepth NY Times article details, when Bush said he was delivering $20 billion in aid to New York, he really meant a few billion for ordinary New Yorkers and real money for his corporate friends in the City.

In total, only a little under $5 billion has actually gotten to New York. Over $1 billion of the money is going to insurance for companies doing cleanup and $5.5 billion is going for tax breaks rather than direct monetary aid.

And it's worth emphasizing that this aid, delivered over multiple years, is far less than the almost $20 billion more in taxes New Yorkers pay each year than they receive in benefits, all so military bases and suburban GOP districts can divert funds from those who suffered on 911. See my original America Owes New York article and my followup blog post this summer.

Posted by Nathan at December 30, 2002 09:18 AM

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Comments

New York pays more in than it gets back? I should hope so. Where are the corporate headquarters? Where do the super-rich live? If you believe in a tax system with any kind of justice, New York has to pay in more than it receives. What you should be squawking about, is why New York pays in so little. That is, if your allegiance is to principles rather than to geography.

Posted by: Andrew Boucher at December 31, 2002 12:16 PM

Think simple. Learn different. Macinstruct.net

Posted by: Emma at July 6, 2004 08:52 AM

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