Posted on 09/21/2006 5:08:43 AM PDT by Brilliant
The Mets and Yankees may be safely in first place, but New Yorkers haven't had much else to cheer about lately. The state ranks first in the nation in net outmigration since 2000, according to a Manhattan Institute analysis of Census data, and the economic damage is especially notable in such struggling upstate areas as Utica and Buffalo. With even nearby Rhode Island planning a reduction in income tax rates, New York will slip further behind on the cost of doing business.
Enter GOP candidate for Governor John Faso, who is expected to release a tax reduction plan today that could at least put New York back in the game for jobs and investment. At the urging of such advisers as economist Larry Kudlow, Mr. Faso will propose to repeal the state's tax on dividends and capital gains over four years...
It's always been a strange paradox that New York, which fancies itself the financial capital of the globe, tries to repel capital with high taxes. Mr. Faso will also propose cutting the corporate income tax, as well as indexing the personal income tax brackets for inflation while chopping the top marginal rate to 6.25% from 6.85% (plus 3.65% if you live in New York City). The Big Apple's top rate would fall below 10% for the first time in decades...
The current front-runner in the Governor's race, Democratic Attorney General Eliot Spitzer, isn't likely to follow suit. His own tax plan focuses on property levies, which are the fourth highest in the country. That sounds good, but he can't resist adding a class warfare wrinkle to his proposal for tax "relief," imposing an income test so that only lower- and middle-income homeowners get his rebate...
(Excerpt) Read more at online.wsj.com ...
Not that much of a paradox to me. It's like a lot of states that have very bad business climates and yet have a very strong business base, such as California and Massachusetts. The reason they have such a strong business base has more to do with natural business advantages, like ports, natural resources, proximity to other important markets, etc. The reason they have such a bad business climate is that the populist politicians have figured out that, due to those natural advantages, they can milk that business base without actually forcing the businesses to move out of state.
Of course, there are limits to that, though, and NY and CA are pushing the limits, I think.
Or, have Americans either lost, or weren't taught about it for the past 40 years or so?
Maybe his education is too lacking to have ever heard the word emigration?
His education? Possibly. Or maybe he's writing to the dumbed down? That is, people that don't know the
difference between immigration and emigration, thanks to cultural Marxism?
Dragging up the ole' standby, Nonflammable/flammable/inflammable. "In" was dropped because people weren't taught the differences,
and would otherwise assume that inflammable was the opposite of flammable.
Or, you're right, and the writer (or taxpayers) overpaid for his schooling.
Thought, I'd expect more from the WSJ. I guess the Slimes/Glob/LAT disease is spreading.
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