Posted on 02/12/2020 11:09:28 AM PST by yesthatjallen
Trump to New York-drop dead.
I have visions of Trump generously meeting with Romney with Romney all smiles and saying nice things, only to have Romney stab Trump in the back.
It’s hard for me to see a Trump upside here.
Trump will let the moron talk then tell him he is not going to get a bailout. Then he will slid a piece of paper across the table and tell him to do everything outlined and come back and see him in 2 years. He will read the outline and his head will explode.
New York should pay its fair share of federal taxes
The conversation will go like this:
Cuomo: Hey we need a federal bailout.
Trump: No. Bye.
Trump: And until you fix your sanctuary policy, all your rich 1% Manhattan and Wall Street friends get to stand in line and take off their shoes at the airport like everyone else.
Exactly right. Once again, Democrat hypocrisy is on full display.
The solution is somple. Lower NY taxes. Problem solved.
NYS is a giver state. IOW, we pay more to Fedzilla than we get from Fedzilla.
“Wait - doesn’t make sense unless the rich are fleeing New York.”
It is always the rich that flee a state for lower tax rates.
The rich are far more “mobile”, and most likely already have houses in other states - so it’s really just a matter of paperwork for them to change their official residency.
We middle class folk have a much harder challenge when we want to move. Find a new job, sell the house (often means doing renovations, waiting for a seller’s market, waiting for the right buyer), buy a new house (same thing - it takes time - it’s a big deal).
What Cuomo fails to realize is that this exactly what the tax policy was supposed to do - make high tax rate states face competition - pressure them into lowering their tax rates to keep and attract (rich) residents.
I am sure that Trump will discuss the SDNY’s witch hunt against his family and associates.
Yep. The SALT cap is not a bug. It is a feature.
New York state faces $6.1 billion budget hole next year: officials
And it's not SALT. It's Medicaid.
Education spending, public pensions, and Medicaid spending are bankrupting us.
And NONE of that is Trump's fault.
FOAD Cuomo! Why don’t cut spending and lower your fricking taxes, you’ll have more revenue!
The ability to deduct state taxes is simply a way for high tax states to tax the whole country. Deduct your high state taxes and you essentially pay less for the same services and benefits (different argument) than a resident of a low tax state.
While it may be painful for some in red states, it’s mostly going to affect blue states since they are also generally the high tax states.
It should never have been allowed. I would argue that it is even unconstitutional. It is largely a wealth redistribution scheme that takes from more responsible states and gives to greedy spendthrift states, while masking the abusive, confiscatory tax policies of the high tax states.
It’s the Governor’s wimpy brother (the “journalist”) that is Fredo.
Obamacare was a devastating TAX to millions all over the country! GFY Cuomo!
Yes - a really smart, long term strategy, both economically and politically.
The blue state politicians buy votes by promising free stuff - and have to keep raising taxes as a result. The SALT deduction protected them from the consequences. Removing the SALT deduction just makes them face the consequences they should have been facing all along.
Good for the economy because it forces states to control spending, AND, it is good politics because it eliminates the federal subsidization of Democrat free-stuff-for-vote give-aways.
Brilliant.
I fail to understand the rationale the the cap caused a revenue reduction to be state.
Those who left were already gone in mind... they translated it into body
1.7 divided by 9 = 19%.
The average income of the top 20% of New York residents is $148,192.
In other words, the "rich"
Democrats love to tax the rich. Just not their rich.
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