OOOH!...OOH!.....I KNOW!......PICK ME!..........
Posted on 10/06/2010 12:01:10 PM PDT by Oldeconomybuyer
No wonder New Yorkers are feeling the pinch.
Personal incomes fell in the Empire State last year for the first time in 70 years, a new report revealed Wednesday.
They tumbled "almost twice" as much in New York as in the rest of country - a 3.1% dent to local wallets totalling a staggering $908 billion in lost income, according to state Controller Thomas DiNapoli.
"The New York State economy remains seriously damaged from the worst national recession in decades, precipitated by high risk lending practices," DiNapoli reported.
Paychecks and earnings slipped 5.4% in 2009 and earnings from dividends, interest and rent tumbled 8.4%, according to the controller.
(Excerpt) Read more at nydailynews.com ...
I’m sure New York’s position as one of the top tax rate states had nothing to do with it < /sarcasm>
Two words: Rush Limbaugh. Good running the state, RATS.
Exactly. Rush, Coulter and plenty of other big money makers are now residents of income tax-free FL. even LaBron James wanted Miami FL over NY...income tax considered.
must be all those rich people getting the tax cuts!
These idiots will turn around and VOTE for Democrats anyway.
This proves the failure of the educational system in this country, and the ability of modern controlled substances to ruin minds.
OOOH!...OOH!.....I KNOW!......PICK ME!..........
Rush vs the NY democrats:
Mr. Limbaugh also had harsh words for Mr. Paterson, calling his tax increases “stupid,” and, according to The Huffington Post, saying they amounted to “punishing the achievers for the mistakes and the lack of discipline on the part of a bunch of corrupt politicians.”
“If I knew that would be the result,”
Patterson said, “I would’ve thought about the taxes earlier.”
Well, Mr. DiNapoli, your fellow Democrats in Washington, especially your current gubernatorial candidate Andrew Cuomo, had been not only promoting "high risk lending practices," but were coercing banks into them. They were known to the politically correct as "subprime mortgages."
Well, Mr. DiNapoli, your fellow Democrats in Washington, especially your current gubernatorial candidate Andrew Cuomo, had been not only promoting "high risk lending practices," but were coercing banks into them. They were known to the politically correct as "subprime mortgages."
Thanks justiceseeker93. But just think how much they’ll save when the Demwits raise the tax rates in 2011.
And what else have they done here in New York? Raised taxes 15 billion in just the last 2 years, New York, the only state in the nation to increase welfare rates and spending through the roof. When the hell are the people ever going to wake up? When? Hopefully this year and they vote Paladino!
Did I say it was? Higher taxes don't only cause a few high income people to flee. They supress incoming economic development (what corporation with sane leadership is going to locate in a state that will suck them dry?), cripple current business expansion, and even cause existing businesses to fail. It isn't government that drives economic growth, it's business. Bloated governments with their legions of overpaid bureaucrats paid to do things that no one wants done, their mobs of pensioners collecting pensions and still working for the state, and their hoards of welfare sucking deadbeats that are supported by wealth transfer are a cancer on society. All of these are paid for by extracting wealth from the rest of us, but almost none of them provide anything of use.
Going to hire a few new workers? Not in NY where the overhead cost of hiring those workers is considerably more than in Florida or Tennessee or Texas or even Georgia.
Personally I think corporations should locate to where they get the lowest possible tax burden including our of the USA. The role of corporations is not to fund government, but to make a profit for their stockholders. Government has the opposite viewpoint namely that we all exist primarily to fund government.
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