Obama’s real assault on Wall Street may be hidden in the health care plan.
A study by the Manhattan Institute found that a new investment tax, which is a key part of Obamacare, will cost New Yorkers $4.8 billion in taxes.
New York and New Jersey together may pay 25% of all funds raised by the tax.
“It’s like imagine a giant sucking machine taking dividend and interest income and sending it from New York to Washington, which is not a great thing at any time, but particularly if we continue to struggle economically in the state,” said the Manhattan Institute’s Steven Malanga.
Business Insider Emails & Alerts
Site highlights each day to your inbox.