The Empire State

The Off-Topic forum for anything non-LDS related, such as sports or politics. Rated PG through PG-13.
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_subgenius
_Emeritus
Posts: 13326
Joined: Thu Sep 01, 2011 12:50 pm

The Empire State

Post by _subgenius »

New York governor Andrew Cuomo announced Monday that the state is facing a $2.3 billion tax-revenue shortfall, and argued that the deficit can be attributed to the “diabolical” recently passed federal tax-reform package.
...
Those New Yorkers affected by the loss of the SALT deduction are now filing their income taxes in other states or using other means to circumvent their tax liabilities, Cuomo seemed to suggest.
...
Cuomo warned that the loss of revenue could not be made up by continuing to tax the wealthiest New Yorkers — the top 1 percent of whom already contribute 46 percent of all government revenue — at increasingly higher rates.

“I don’t believe [in] raising taxes on the rich. That would be the worst thing to do. You would just expand the shortfall,” he said. “God forbid if the rich leave.”

Anyone think Bernie noticed this?
Seek freedom and become captive of your desires...seek discipline and find your liberty
I can tell if a person is judgmental just by looking at them
what is chaos to the fly is normal to the spider - morticia addams
If you're not upsetting idiots, you might be an idiot. - Ted Nugent
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_EAllusion
_Emeritus
Posts: 18519
Joined: Tue Dec 04, 2007 12:39 pm

Re: The Empire State

Post by _EAllusion »

If it were that simple, why didn't the wealthy flee the United States when marginal tax rates were much higher? Why don't the wealthy flee all the other Western democracies where marginal taxes are much higher? Why is New York so wealthy right now despite its relatively high tax burden compared to states like Louisiana and Mississippi?
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_Doctor CamNC4Me
_Emeritus
Posts: 21663
Joined: Mon Jun 15, 2009 11:02 am

Re: The Empire State

Post by _Doctor CamNC4Me »

And I thought this was about the SDNY moving on Trump:

https://www.wsj.com/articles/lawyers-fo ... 1549325383

There's a paywall, but the TL;DR is Trump's campaign did illegal things to get money.

eta: looks like there's no paywall. the article is worth a read for you Trump supporters.

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

Every record...falsified, every book rewritten...every statue...has been renamed or torn down, every date...altered...the process is continuing...minute by minute. History has stopped. Nothing exists except an endless present in which the Ideology is always right.
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_moksha
_Emeritus
Posts: 22508
Joined: Fri Oct 27, 2006 8:42 pm

Re: The Empire State

Post by _moksha »

EAllusion wrote:If it were that simple, why didn't the wealthy flee the United States when marginal tax rates were much higher?

Don't want the wealthy fleeing to New Jersey, Connecticut, or Galt Island.
Cry Heaven and let loose the Penguins of Peace
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_canpakes
_Emeritus
Posts: 8541
Joined: Wed Dec 07, 2011 6:54 am

Re: The Empire State

Post by _canpakes »

Doctor CamNC4Me wrote:... the article is worth a read for you Trump supporters.

Well, your optimism is inspiring, at least. : )
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_Maksutov
_Emeritus
Posts: 12480
Joined: Thu Mar 07, 2013 8:19 pm

Re: The Empire State

Post by _Maksutov »

canpakes wrote:
Doctor CamNC4Me wrote:... the article is worth a read for you Trump supporters.

Well, your optimism is inspiring, at least. : )


Doc's trippin'. If it can't be loaded into a Russkie meme it will never land.
"God" is the original deus ex machina. --Maksutov
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