What we lost today and why
Today Council voted 11 to 4 to delay the Cohen Working Families Wage Tax Rebate for three years. It was supposed to start in 2010 and is no delayed until 2013. Since the program ramps up gradually, final implementation will be in 2018. Keynes said that, in the long run we are all dead. Certainly by the time we get to 2018, many of the working poor and middle class people alive today who could benefit from a reduction in their wage taxes will be dead. Whether the Tax Rebate program will ever go into effect is now an open question. Unless we build the political will and find the politicians to support the wage tax rebate, it is not unlikely that every there is a budget shortfall our politicians may well decide to turn to put off the wage tax rebate again. After the vote, some Council members suggested… Continue reading