Posted on 01/20/2021 4:31:14 PM PST by lowbridge
New York Gov. Andrew Cuomo proposed raising taxes on the wealthy to a combined level of 14.7%, which would be the highest state-and-local tax rate in the nation.
The tax increase would raise $1.5 billion for the state, Cuomo said Tuesday in an address unveiling his 2022 budget proposal.
The move would be part of a three-pronged approach — raising revenue, cutting expenses and borrowing — to cover the state's historic budget shortfall due to Covid-19, Cuomo said.
"New York cannot manage a $15 billion deficit," according to Cuomo, who said the state's largest prior deficit was $10 billion. "It's beyond what we can do."
(Excerpt) Read more at cnbc.com ...
That’s GUARANTEED to get all those people back.
And the billionaires run for the exits in 3....2....1.
The insanity of Leftists is amazing.
“New York cannot manage a $15 billion deficit. It’s beyond what we can do.”
What a shame he didn’t think of that before shutting down the NYS economy for the better part of a year.
How much is the state and local sales tax in NYC?
What’s going to happen when all the taxes added together top 100%?
This will be paired with the Democrats restoring the state tax credits again - so it’ll be a SAVINGS for the state while the red states have to cover the blue states butts again.
They voted for it, embrace the suck!
This is to drive property values down so China can pick it all up for pennies on the dollar.
Who does Mario’s thug son consider wealthy?
Raise it more. I wish full communism on New York.
Don’t wake from your slumber America
Land of the white supremacy
There’s castles and clothing and food for you
But it really belongs to us
Every man a revenue source
Every man a revenue source
Oh you don’t have to be a millionaire
Is there something belonging to you
There’s not enough if you don’t share
When the shutdowns last January to December
Rolling winter into spring
You’ll damn well do as we say
And everyone’s a revenue source
Full communism will not be confined to NY.
This will not end well.
And Dufus can’t figure out why people are leaving that paradise.
Aakash, very clever, Charlie Chan.
;-)
How do New Yorkers pay for this? It’s strangulation. Why do they put up with it?
Go for it.
People should pay for the god-given right to be exposed to shit on the streets, homeless, and crime.
OBVIOUSLY, that low number is just to get it started.
Cuomo needs double to triple that number.
Poor New Yorkers, good thing they can call 911
to get a social worker.
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