Posted on 11/14/2025 3:37:01 PM PST by Libloather
Gov. Hochul is reportedly open to raising taxes on corporations in the Empire State to help fund socialist Mayor-elect Zohran Mamdani’s freebie-filled agenda for New York City.
Hochul, who is up for re-election in 2026, is sticking to her vow to not hit high-earners with higher taxes — but has had preliminary conversations about raising revenue by upping the corporate tax rate, according to Politico, which first reported the story.
The hike would help fill the more than $4 billion budget gap facing the state next year and cover some of the costs associated with Mamdani’s socialist dream in the Big Apple once he becomes mayor, Bloomberg reported.
The revelation comes after a Thursday meeting between Mamdani and Hochul in which the pair discussed their shared goal of delivering universal childcare.
Raising the corporate tax would mark a notable shift for Hochul, who has repeatedly said that she would not raise taxes when pressed by the far-left faction of the party that helped propel Mamdani into office.
While Hochul hasn’t been explicit about whether she was referring to taxes on wealthy individuals or businesses, but her budget director, Blake Washington, insisted earlier this week that higher taxes were “the last thing on my mind” and stressed that New York was in a “good spot financially.”
Aside from the budget gap in 2027, New York State also faces numerous cuts in funding from the federal government, which could cost the state billions.
(Excerpt) Read more at nypost.com ...
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Corporations still have to operate across state lines. By relocating outside the jurisdiction of New York, both city and state, they no longer have to collect taxes to pass through to the city and state.
Thus both city and state shall have to go hat in hand to the Feds, and there are a lot more voters OUTSIDE New York, than subject to their jurisdiction.
Object lesson to be learned: Don’t urinate in the soup.
Good. They vote for it, give it to them good and hard.
She’s running scared of the loon wing of the Democrat party. These are the people who know that communism/socialism HAVE NEVER DELIVERED WHAT THEY PROMISED, but insist to the stupid voters that this time it will be different, and of course the stupid voters believe them because they want it to be true. The pleasant fantasy of not having to work and getting whatever you want appeals to the lazy and the entitled. There are few things dumber than a Democrat voter.
(There are few things dumber than a Democrat voter)
Wish I could disagree 😔
We were living in Ithaca, NY in 1961. I was in 5th grade. That was when I got my very first political lesson. Dad and his buddies one Saturday afternoon were at the house barbecuing burgers, drinking beer, and complaining about how all their NYS income tax payments flowed to NY City and the rest of the state got nothing.
A shame all the work is wasted on taxes to go to the shiftless.
Good time to remember the novel synopsis for Ayn Rand’s Atlas Shrugged.
“Atlas Shrugged is a dystopian novel by Ayn Rand that argues that the mind is the source of all value and progress, and that society collapses when it stifles its most productive individuals through excessive regulation, taxation, and a culture that condemns self-interest. The novel’s central metaphor is that of the mythical giant Atlas, who is forced to hold up the sky, and the story’s “shrug” is when the nation’s “prime movers”—the creators and industrialists—go on strike, abandoning their businesses and disappearing.”
Some of these “New York Corporations” are likely soon to be “Different State) Corporations” and the tax revenue will collapse.
“Some of these “New York Corporations” are likely soon to be “Different State) Corporations”
Delaware use to be that destination. Now there is a “Dexit” happening. According to an AI search....
“Many corporations are leaving Delaware, citing legal uncertainty and an increase in shareholder litigation, a trend nicknamed “Dexit”. The movement was partly triggered by Elon Musk’s decision to move Tesla and SpaceX to Texas after a Delaware court invalidated his compensation package. High-profile companies such as Coinbase, Dropbox, Roblox, and Meta are also leaving or considering leaving, often reincorporating in states like Texas or Nevada, which offer more business-friendly corporate laws”
JP Morgan / Chase is one of the mega Corporations that is incorporated in Delaware. Though it’s main headquarters is a shiny new “all electric, sustainable” 60 story building in NYC. My Nephew moved from San Diego to West Chester PA to take a job at Chase at the Wilmington Delaware office after going from the Marines active duty > reserves. Hoping for him Morgan / Chase doesn’t pack up and leave DE. He likes West Chester, relatively patriotic, conservative area of PA.
Corporations looking for relocation areas asap NYC to be the
biggest ghost town in the east.
If she does this, you can bet Albany will turn around and subsidize the same companies geting their tax oxen gored.
Check out the subsidies corporations staying in NYS get from Albany.
They stay for good reason.
I’m a Dem. And you’ll meet plenty at Trump rallies.
Why do people persist in thinking that there’s a difference between the two parties.
You’re either MAGA...or not.
And there are MAGA from both parties.
Because the republic comes first.
Should they withdraw, they will be able to negotiate separately for those services, instead of being in the minority of a Dallas dominated entity. I see it as similar to the dynamics in Washington state and King County.
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