NYC

New York City Mayor Michael Bloomberg has painted his decision to fire more than 4,000 teachers as the only budgetary course open to him, but it turns out that an increase of less than one-half of one percent on the income tax rate paid by wealthier New Yorkers would raise more revenue than the Mayor's budget saves by firing the teachers.

One big roadblock: politicians who can't imagine constituents changing the way they commute.

In offering a set of “common sense proposals,” New York City Mayor Michael Bloomberg has sent a clear message to national policy makers: when it comes to business, tread lightly.