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...