A tax law evidently creates an entitlement so that noncollections constitute a "loss".
. . .to close a deficit estimated as high as $12 billion.
I hear several states enacting tax measures to close a huge deficit. No one seems to ask why such a deficit exists in the first place.
However, they say the drop has not been nearly as much as it would have, had such easy ways to avoid taxes not been available to consumers.
I'm blinded by the brilliance of that statement. Will they tell us water is wet and dirt is dirty now?
Come on, New York, tell us why you owe $12 billion and who you owe it to, and what security did you give for the debt that can be siezed on nonpayment.
I give up. Tell us.