New York so-called “millionaire’s tax” was first adopted back in 2009 and renewed two years later in 2011. It is set to expire at the end of this year, so the effort has already begun – not just to extend the expiration date (another three year extension of the 8-year old tax), but also to expand those covered by the extra tax burden – after all, what is the appeal of a millionaire’s tax if it only punished “millionaires” for being successful? Anyway, the latest push by advocates is for Albany to renew the extra tax burden and raise it. Currently, single earners of over $1 million pay 8.82 percent, while those below that amount would pay a graduated tax of between 4% and 6.85%. Progressive legislators have floated the notion of keeping the 8.82% tax rate for those earning between $1M and $5M, raising it to 9.32% for earners of $5M to $10M, and collecting 9.82% of incomes over $10M. Furthermore, they are also advocating that additional brackets be added to the New York graduated schedule, the effect of which would be to apply the “millionaire’s tax” to those with incomes as low as $660,000! Recall that Maine voters last year approved a “millionaire’s tax” that applies to incomes over $200,000 per year! Just another tool to divide Americans!