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Pasternak: Why Millionaire Taxes Don't Work

By Susan Barnett

http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-878141.mp3

Hudson Valley, NY – As the state and federal governments look for answers to their major money troubles, one answer that is often proposed is a millionaire's tax. It's a fix that fiscal conservatives say will only drive money right out of the country. Hudson Valley bureau chief Susan Barnett spoke with Ken Pasternak. His KABR realty bought a massive New Jersey office building at a distressed price - and just rented it to Samsung for its corporate headquarters for far less than any neighboring buildings. His neighbors say he's killing the real estate market - he argues he kept Samsung in New Jersey.

Ken Pasternak is a principle of KABR Realty in New Jersey and a backer of the proposed Belleayre Resort.