From Newsmax:

New York Gov. David Paterson observes that revenue from tax increases is running at least 20 percent below government projections and that the wealthy, as a group, were not paying more taxes there.

Thus far, New York had only collected about half of an expected $1 billion in income tax revenues from the state's wealthiest residents, reports Investor’s Business Daily.

"You heard the mantra, 'Tax the rich, tax the rich,'" Paterson opines. "We've done that. We've probably lost jobs and driven people out of the state."

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More government stupidity:

The "Ron Paul of England" returns!

Follow up to the "free money" Detroit outrage video

TAX HORROR: White House committee to propose national sales tax