Andrew Cuomo has a 2.3 Billion dollar problem called a deficit. But the Democrat governor says he won’t raise taxes on the rich. “That would be the worst thing to do. You would just expand the shortfall,” he said. “God forbid if the rich leave.” Strange words from a Democrat, so who does he tax?
Who to tax is a progressive reality with which our readers are familiar. The answer, inevitably, is everything and everyone.
The government can do nothing without first taking property from someone else. How much government should do cannot be separated from the problem of how much government must take. Who gets to decide what and “how much” is at the very heart of the divide between the left and the right.
Progressives always want the government to do more. There is, in fact, no end to what it should do, in their mind. Ask them where it ends. How much is enough? They have no answer. But government can do nothing without first taking property from someone else, and the rich make for a big target. A target that moves.
According to National Review, New York State’s one-percent already pay 46 percent of the cost of running the Empire State (into the ground?). In nearby Connecticut, Governor Dannel Malloy took the progressive tax and spend dance to the edge of its logical conclusion and paid the price. The wealthy started to leave taking their salaries, their companies, and investment capital with them.
Cuomo sounds like he knows they have to avoid that. But what to do about coming up short 2.3 Billion dollars?
It’s not a problem they didn’t see coming.
Back in July Cuomo, Malloy and company wanted to sue the Feds for altering the Federal SALT tax deduction. A feature of federal tax law that facilitated gross tax abuse by Democrats at the state level.
They tax the crap out of the locals who then write that abuse off against the Federal treasury. Meaning you.
But if residents in these blue states can no longer use you to recover a significant portion of the beating they take at the state level from Democrats they put in office, it may no longer be equitable to stay there. People will move and take their money or their business, and those jobs with them.
Capping the SALT deduction forces the wealthiest American to ‘pay their fair share’ at the State level. If they can’t recover those losses from Federal taxpayers, there is a strong incentive to move to states like Florida or even New Hampshire. Locales where the total tax burden is significantly less.
Democrat opposition to this arrangement reveals their dishonesty about making the rich pay.
Cuomo’s admission that New York needs ‘The Rich’ to stay, exposes another lie. They are paying more than their fair share. And should they choose not to, the government they built on those backs collapses along with all the promises that Government can and should do everything.
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 only until 2025 when the tax expires. A change Republicans could have made permanent before the end of 2018. But much like the Wall funding, too many of them are more like Democrats than not. Or feel beholden to the system and power they wield inside the beltway.
And people have the nerve to ask us why we can’t all just get along.