Investing in your retirement has never been more important than it is now. With the current state of the economy, there’s not much of a reason to have faith that you’re social security payments will provide much stability to you in your golden years. With the rising costs of living and pretty much everything else, social security contributions can’t and won’t keep up with inflation, and what may barely pay your bills now certainly won’t pay them when you’re 65.

If you’re thinking “WTF?!?” right now, then you sum up our thoughts pretty well. Mayor Bloomberg’s tax increase follows the nearly 20% tax increase after 9/11, and is mirroring other tax increases in other cities across the U.S. in an effort to close budget gaps due to the lull in the current economy.