Mighty Fine Tax Cuts In Our Future?

Mayor Michael Bloomberg will be [proposing about $1 billion in tax cuts on property, retail sales and small business income] in his annual State of the City address today, say sources with knowledge of the speech. Amongst other things, we can thank the booming real estate market and Wall Street earnings for reductions that could amount to $200 a year for the average homeowner. But let’s move on to the really great news: the proposal also includes [eliminating the city’s 4 percent sales tax on clothing and footwear](http://www.nydailynews.com/front/story/489475p-412168c.html)! That means no more traveling to Jersey to shop. Thank you Bloomy.(http://flickr.com/photos/sarahbaker/)