Word: mayors
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Dates: during 1960-1969
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...working paper circulating in the Mayor's office estimates that "City revenues have a natural growth... of only about 5 per cent, while City expenses are now growing at a rate of 15 per cent...
...Mayor Lindsay, in his Policy Statement accompanying the latest Executive Budget, outlined a multiple adjustment (and received, as expected, a multiple response): "To close the ($600 million) gap has required a series of measures. First, the budget was cut ($276 million). Second, State aid to the City has been substantially increased ($220 million). Third, new and additional taxes will be necessary. Fourth, I am recommending that user charges and fees for certain services he adjusted to a full cost basis. Fifth, there are in addition numerous funding shifts...
Another even more important reason why Mayor Lindsay would not locally raise sufficient revenue to finance his programs goes back to the central theme of conflict between economically optimal and socially desirable policies...
Nearly all of the regressively in the local tax bundle is explained by property taxes, the largest single source of income for the City, For a mayor as concerned with questions of equity as Lindsay is, raising local revenue is a "damned if you do-damned if you don't" proposition...
RAISING tax rates is not the only means of increasing locally raised revenue. One could also increase the tax base, holding rates constant (or even lowering them). The most important local tax is that on property, and the Mayor might also increase the property tax base for more revenue...