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Artvoice Weekly Edition » Issue v10n10 (03/09/2011) » Section: Letters to Artvoice

Collect the Stock Transfer Tax: $16 Billion This Year Alone

New York State collects a very small tax on each stock transfer, but then instantly rebates the tax, now in excess of $16 billion annually, back to Wall Street. The tax is hardly noticeable for anyone who invests in Wall Street, primarily hitting those who treat the stock market as a casino, making hundreds of trades daily.

Investing in Education

The cap on property tax increases spells doom for educational programs across New York State. When will this state recognize that it is so top-heavy in administrative costs that it makes it virtually impossible for anything to trickle down to the trenches where the majority of the dollars should be invested? There are multiple school districts in towns where consolidation would eliminate administration and all the costs and benefits provided. Prime example: the Town of Cheektowaga. There are four separate school districts serving the town: Cleveland Hill, Maryvale, JFK Sloan, and Cheektowaga Central. Each district has administrative staffs, all providing the same basic services that one unified district could provide. Eliminating three superintendents and all their related staffing would greatly reduce school taxes.

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