The New York Post reports on NYC:
In 2009, the top 1 percent of taxpayers (the 34,598 households making above $493,439 annually) paid 43.2 percent of city income taxes (they made 33.9 percent of income), according to the city’s Independent Budget Office. Each of these families paid an average $75,477.
There's more:
In Fiscal Year 2008, before Lehman Brothers collapsed, City Hall collected $8.6 billion in income taxes. By 2009, the figure plummeted to $6.5 billion, widening the deficit by $2.1 billion. More than half a decade later, personal-income taxes are still below that 2008 figure; $8.2 billion is expected this year.
An article well worth your time.
