Why New Yorkers Suck At Math.
AT LAST, RECHARGER GETS WHY REAL ESTATE TAXES ON HIS DOGHOUSE DOUBLED LAST YEAR FROM $15 TO AN EXCRUCIATING $30. Turns out New York officials claim $1 billion-per-year tax losses from shady characters who hawk counterfeit goods–mostly on Broadway south of 34th Street. A little sixth-grade math, however, casts doubt on this figure. A $1 billion loss in tax revenues–$33 million daily—would mean that $11.9 billion of fake merchandise is sold annually in NYC (Only three years ago the city [...]
Posted in The City on December 4th, 2006 | 
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