Maybe it doesn't suck after all to not be able to afford to live in New York.

New York Governor David Peterson has seemingly gone tax crazy in order to generate much-needed revenue for the state. The set of new proposed taxes includes one on soda pops and, wait for it, luxury goods. That's right. If Peterson's recession oriented plan passes in the legislator on April 1st, there will be an additional 5 percent sales tax placed on jewelry and furs costing more than $20,000. But, since most of us are broke anyways, this won't affect the average joe's (har!) much.
That said, Mr. Peterson has some ideas for the mildly broke consumer, too. As WWD reports: "Paterson is seeking to eliminate the sales tax exemption on clothing and footwear priced less than $110, but he would replace it with two one-week exemption periods on clothing and footwear purchases of less than $500."

Uh, yeah. This most definitely sucks. So, what's Peterson expected to gain from this? $462 million in the 2009-10 fiscal year and $660 million the following year. And there you go. Start saving your pennies, New York!

[via WWD]