By Daily Crux Editor Brian Hunt:

This is stupidity that could only come from politicians...

New York City has long been the world's financial capital. But our nation's leaders are working hard to erase that label. In a desperate attempt to keep the bloated diseased pig of big government alive, the state is actually increasing income taxes.

The WSJ reports: "In New York, Assembly Speaker (and de facto Governor) Sheldon Silver and other Democrats will impose a two percentage point 'millionaire tax' on New Yorkers who earn more than $200,000 a year ($300,000 for couples). This will lift the top state tax rate to 8.97% and the New York City rate to 12.62%. Since capital gains and dividends are taxed as ordinary income, New York will impose the nation's highest taxes on investment income -- at a time when Wall Street is in jeopardy of losing its status as the world's financial capital."

As this piece details, New Yorkers are also set to pay higher government fees for cell phone usage, health care, electricity, and booze. What a great way to wreck a city that is already struggling.

Here's how to save New York: Immediately institute a flat national income tax of 20%. Eliminate the capital gains tax. Eliminate the dividend tax. Slash the corporate tax by 75%. You'd have the greatest economic boom in history.

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Atlas Shrugged begins... New York turns on the rich

Atlas Shrugged begins, Part II... New York taxes bite deeper and deeper