NYC Mayor Bill de Blasio proposes tax hike on wealthy to pay for crumbling mass transit system

The New York City public transportation system is falling apart and Mayor Bill de Blasio believes he’s found the cure: higher taxes on the rich.

De Blasio unveiled Monday a plan that would saturate NYC’s public transportation with $700 million to $800 million to fix existing problems and maintain the mass transit system, which includes an extensive subway system and a fleet of buses.

The New York Post reported that de Blasio has proposed a 14 percent income tax hike on the city’s...

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