2019.02.04 NY Tax-Increase causes $2.8B deficit
Gov. Cuomo whined that people were fleeing his high taxes and bad policies, and it was making deficits worse.
~ Aristotle Sabouni
Created: 2019-02-04 |
Gov. Cuomo decried that people were fleeing the states high income taxes causing a revenue shortfall of $2.8 billion, and is making him reconsider spending on schools, health care and repairs to roads and bridges. (They could easily take it out of the highest ticket items like Social Programs to cover the shortfall -- but if they did that, few would notice and allow him to raise taxes later).
Of course Comrade Cuomo tries to point fingers at a Trump Tax Cut, that he both vilified as a tax cut on the rich, and now says that the rich can't afford the increase. Which is it Andy? It can't be both!
To the economically literate (polemic democrats need not apply) the truth is, Trump cut taxes more for the middle and bottom. And high end folks didn't get as much of a break. But it wasn't a big increase either. And people have been fleeing from NYC for decades (generations) because of their anti-liberty and high tax attitudes. Trump did not cause this, Democrat policies caused this. But since Democrats can't get elected telling the truth, they lie and point fingers.
Unintended Consequences[edit source]
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Tags: Laffer Curve
