As noted last week, New York State has a 2.3 billion dollar spending problem. They already spent it. Plan to spend it. Benevolent government is expensive. It consumes lots of dollars. Mostly on the machine of government. Which rarely suffers when the collection plate comes up short. But 2.3 billion is a lot of Cheetos.
Cuomo says he can’t raise taxes on the rich anymore. They’ll leave. So, down to Washington, he goes. To speak the devil himself. Mr. Trump. Whose tax reform is, according to Cuomo, the cause of all that ails him. The SALT deduction in particular. A change that ensures the rich “pay their fair share” at the expense, as it turns out, of big government liberalism. A tab you used to have to pick up. A point I summarized here.
Cuomo and company have been using us to buy off rich liberals in blue states for decades. The wealthy pay a ton in state taxes on all their expensive property. They write it off on their federal taxes. The Blue states get paid, and the rest of the country pays the price. But not anymore.
Cuomo thinks state’s like New York are the Economic engines of the nation. What they are is a money pit sucking energy off the national tax teat. In the absence of that free-ride New York has discovered a harsh reality. If it wants New Yorker’s to pay for “New York” he needs to cut spending or raise taxes.
New York has an abundant source of shale oil and gas. Developing that resource would create jobs, stimulate local economies, and generate, what’s the word, tax revenue. But as Streiff notes at RedState, Cuomo signed a bill banning fracking in the Empire State.
Then in 2016 Mr. Cuomo blocked a 124-mile pipeline to deliver natural gas from Pennsylvania to New York and New England. The pipeline would have allowed millions in the region to convert to natural gas from dirtier and more expensive heating oil, which would save an upstate New Yorker about $1,000 a year.
Pipelines generate revenue as well. Just not in New York. Where they have what we in New Hampshire call a spending problem. Caused by something else we have in New Hampshire. A Democrat problem.