The City Business Income and Receipts Tax brings in about $400 million a year mostly from big businesses like Walmart and Comcast. Vote No on bill 130530 that would repeal that tax!
Why is this important?
Just at a time when President Obama is highlighting the problem of income inequality in our country, and the New York Times has editorialized about the role that corporate tax cuts have played in fostering it, City Council is poised to pass a bill that would repeal the City's main business tax, throwing millions of dollars at major corporations that need no help. In a City that leads the nation in poverty, those dollars need instead to be put into schools, social services of all kinds, and new forms of business enterprise like co-ops that foster local initiative and community involvement. We must say no to a vision of society that says only when the rich get richer will some few pennies trickle down to the "deserving" poor.
