Wall Street Bonuses Generate Tax Revenue for New York

Here is another angle on Wall Street bonuses, and how they affect Medicaid and teacher pay in New York State.

Wall Street bonues generate a significant slice of the entire tax revenue of the State of New York. Usually Wall Street bonuses, which are of course taxed at a very high rate, generate about 20% of the state budget of New York.

This is now down to only 13%. It is causing huge deficits in the state.

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