Via the New York Daily News (HT Empire Report):
While Assembly Democrats push to not only extend but expand a tax on the rich, Gov. Cuomo warns even the wealthy have limits.
Cuomo has proposed extending a tax surcharge on millionaires set to expire at the end of 2017, but was skeptical during a meeting with the Daily News Editorial Board last week about going much further.
The Assembly Democrats support an extension but wants to add three brackets for those earning at least $5 million, with the top rate hitting 10.32% for those making over $100 million a year.
“People will take a certain amount of abuse and then there is a point,” he said. “The question is, what is that point? Nobody knows for sure, but you don’t want to reach that point.”