Message from Executive Director
Michael Stoller
Times are tough. And the economic outlook remains bleak for the near future. Yet there are a few bright spots: Occupy Wall Street and the public groundswell of support for the 99% of us who aren't wealthy and ... actually, that's the only bright spot that comes to mind right now, but we've been enthralled to watch the movement spread.
At HSC, we're working hard to turn things around. We're raising awareness about the cuts' devastating effects on social services. We had a successful Austerity Breakfast at Tiffany's, which drew public attention to the tradeoff between extending the personal income tax (PIT) surcharge on high-income New Yorkers or cutting programs that serve the needy. Please see our blog and our HSC in the News page for more information and press coverage received due to this event - but note that the numbers are staggering. Consider that a $20,000 necklace could be exchanged for 3,800 senior lunches, a $7,000 watch for 3,500 emergency meals to the homeless, and a $25,000 bracelet for 2,000 family food packages at food pantries.
Thus, we're making the extension of the PIT surcharge a major focus of our work this fall. If the PIT surcharge (aka the "millionaire's tax") is allowed to expire this year, New York will give a $5 billion tax break to our wealthiest residents on December 31. Quite a New Year's present! That is why HSC is working with City and Statewide coalitions to extend the PIT surcharge, and we can thank 99 New York, our members and particularly, our Lead Advocates, for adding their voices to the 99%. We can also thank several of the 1% for speaking up and asking to be taxed so that the services we all depend upon can be saved. We'd like to thank Bill Samuels and Sarah Stranahan, wealthy New Yorkers who joined us at our Austerity Breakfast at Tiffany's to express their support of the PIT surcharge.
Many thanks,
Michael Stoller
October, 2011
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