By Brooklyn Reader

April 15, 2014, 7:47 am



A New York City Independent Budget Office analysis shows that the top 1 percent of the city’s taxpayers pay nearly 50 percent of the city’s taxes.

The IBO found that people who are earning $598,000 or more per year—pay $3.3 billion in city taxes, which is 46 percent of the overall total, the Daily News reports.

Data also show that nearly 40 percent of city income tax filers – about 1.4 million people – had incomes below $20,000. And the average income tax filer owed $2,035 in taxes.

Mayor de Blasio said he appreciates those who have done well and contribute to the city’s tax base.

However, “That appreciation does not contradict the fact that we have an inequality crisis gripping this city, and this nation, and it has to be addressed very aggressively,” he said.






Want to write for us? We're looking for interns and experienced writers! Go here for more information.

Leave a Reply

Your email address will not be published.