Paterson Wants to Boost Clothing Taxes; Alvin Valley Relaunches Collection

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• Governor David Paterson has proposed an additional 5 percent tax on luxury goods like jewelry and furs costing more than $20,000. He also wants to take away the tax exemption on shoes and clothes costing less than $110. Um, no thanks. [WWD]

• Alvin Valley is relaunching his Collection line with a show at New York Fashion Week. "I felt like people weren’t spending extraordinary amounts of money on expensive dresses and furs, so I laid off of it for a while," he says. Things have changed? [WWD]

• Images of Marilyn Monroe shot by Bert Stern in 1962 for Vogue sold at auction for almost $150,000 yesterday. They're believed to be the last professional pictures taken of her before her death. [British Vogue]

• Model Jessica Stam missed her co-hosting duties at the Charity Water benefit on Monday because of the flu. [NYP]

• Emma Thompson: "If I buy anything, I lie about it, hide it or stain/chip it slightly and claim it was 75p in the Scope shop." [British Vogue]