“God forbid if the rich leave”
The Governor of New York State is Andrew Cuomo.
The top 1% of all earners in New York State pays 46% of all taxes.
The new federal tax code limits state income tax deductions to $10000.
The New York State tax revenues are 2.3 Billion less than expectations one month ago.
So where is the money going to come from?
Will New York State raise taxes on the rich?
Will New York State raise taxes on everyone else?
Will New York State cut spending?
Will New York State have to borrow money?
Can New York State pay it back?
If higher taxes are placed on high earners, will those high earners leave to states with low taxes?
In a New York minute.
Or should they remain to be fiscally milked and vilified as evil rich people not paying their fair share?
How much snow is falling in the Northeast? How much in Florida?
"God Forbid if the rich people leave"!!!!
Translation, Governor Cuomo may have to be accountable (EGAD!) during an election cycle. Imagine the horror if your boogey-man took his ball and left and you could do nothing to stop him.
Amazon's new hub learned an important lesson and saved billions of dollars.
New York State Politicians have decisions to make, difficult decisions, decisions that can turn a politician into a former politician.
I hear the golf courses in Florida have tee-times even in February.
This is going to be fun to watch.