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He’s finally figured out that when you tax people too much, they’ll say, “See ya later!”
This is why New York is 2.3 billion dollars short in tax revenue!
But instead of putting the onus on himself to come up with a better budget — and show some fiscal discipline - he’s just complaining-- blaming Trump’s tax policy for his state’s lack of discipline.
I know the mainstream media likes to pretend that Trump handed a tax cut to the rich. I’ve been trying to help them figure the story out (the real issue was the inability to close tax loopholes benefiting the uber-wealthy private equity folks, who pretend their income is investment-- it’s not.) But that’s too complicated for the mainstream media, so instead they say, “Trump just gives tax cuts to the rich.”
Let me be clear: Trump’s tax cuts, overall, where *not* entirely the windfall to high earners that the Left likes to pretend they were... because most of those high earners live in blue states where, all-in, tax rates are sky-high. In the case of New York City, for example, top earning residents pay a 4 percent city tax... and a 9 percent state tax... in addition 37 percent federal rate. Before Trump, city and local taxes could be deducted. So it didn’t matter how much New York wanted to charge you!
Now - it matters.
So people moved.
No surprise there. They moved out of New York to places like Florida and Texas - places that have no income tax.
On a personal level - hey, I’m not wild about the inability to deduct state and local taxes. It’s bad for those on the East and West Coasts... however, I think there’s some irony here that we should not lose sight of...
We now have a Democrat- Andrew Cuomo - complaining that taxes are too high.
Yes, sir. They are! But stop looking to the federal government for handouts and cut the taxes in New York yourself.