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From: clutterer	4/7/2010 5:57:21 AM
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Call for 50% tax on Wall St. bonu$ By BRENDAN SCOTT Post Correspondent Last Updated: 5:15 AM, April 7, 2010 Posted: 3:50 AM, April 7, 2010 Comments: 0 \| More Print ALBANY -- Cries of "soak the rich!" rang through the halls of the Capitol once again yesterday as the Working Families Party called for a tax of up to 50 percent on Wall Street bonuses. The union-backed Working Families Party argues that the "temporary" levy could generate as much as $6.9 billion a year to fund the party's favored property tax relief program and offset deep spending cuts Gov. Paterson says are needed to avoid years of cascading budget deficits. "We simply can't imagine a reason why a temporary tax on excessive Wall Street bonuses should not be part of the solution to solving the property tax crisis and closing the historic budget gap New York faces today," party director Dan Cantor said in the letter to legislators. "It's a matter of basic fairness." Cantor proposed a 25 percent tax on bankers whose bonus packages exceed $250,000. That would rise to 50 percent for those who bring home $500,000 or more. The pitch came just as the Legislature returned from a nine-day recess to resume debate on the late state budget. nypost.com

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