Last Friday, I heard on the radio that the proposed ½% increase in New York City’s sales tax has been approved, making the total sales tax in the city 8.875%. The announcer on the radio said that the increase will bring the city an additional $60 million a month.
That means that people spend, on average, $1.2 billion a month on sales-tax–eligible purchases in New York City. That’s staggering, at some level. Though, I suppose when you consider the population of the city — more than 8 million in the five boroughs — and others in the area who buy things in the city, plus visitors... it doesn’t really come out to that much per person.
When I think of it that way, I wonder that it’s not more.