Posted on 03/21/2013 6:16:44 PM PDT by Hojczyk
But that’s not Cuomo’s only pull back.
“This state has no future if it is going to be the tax capital of the nation,” Cuomo during his inauguration.
Cuomo then passed a supposedly temporary tax on high-earning New Yorkers that was due to end next year, but now, CBS 2’s Marcia Kramer reported Thursday, that’s not going to happen.
“There will be an extension of the surcharge set to expire next year,” Cuomo said Thursday.
And when asked at if that wasn’t hypocritical, given his prior no-new-taxes positions, Cuomo tried to paint the tax hike as a tax cut, since the budget also provides the middle class with a $350 child tax rebate.
“Some taxes go up, yes, and others go down and the net is they go down. That’s why it’s a tax cut,” Cuomo said.
Business proponents are crying foul. Kathryn Wylde, president of the Partnership for New York City, said it’s a huge mistake that will hurt the economy and drive high earners out.
“New York City, which is the economic engine of the state of New York, is in fact where the burden of this tax falls,” Wylde said. “Anything that hurts the economy of the city…that hurts the ability of business to recruit high-earning, top people from around the globe and bring them to New York is a problem.”
Wylde said that with federal tax changes that went into effect in January, these high-income New Yorkers will now be paying 54 percent of their earnings to the government, which is why they may succumb to the lure of no-income tax states like Texas and Florida, and Puerto Rico.
(Excerpt) Read more at newyork.cbslocal.com ...
NYC will soon try to tax peole who have never lived there I bet.
1997
Don’t see why anyone would still live in Calif or NY due to taxes and very stupid politicians
It’s hard to feel sorry for the tax-burdened people of the blue states. They keep electing politicians on the national scale who are destroying this country. The sooner the blue states crumble under the weight of their policies, the better. Maybe then we can start getting fiscally responsible Presidents, Senators and Congressmen.
The offering sold like hot cakes and one of the principles was Mario the Great, who was then the LT Gov. and was a decent guy to do business with {no graft involved}.
Back then, the combined city, county, state and local tax was 12% today it must be insane. Why anybody stays there is beyond me.
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