Now that New York has governed itself into massive debt they've decided the best way back out is, you guessed it, higher taxes and more spending! I do really wish someone could tell me how massive deficit spending actually reduces debt; they seem to be going along those lines up in New York and I know the Obama administration has made that claim. Nonetheless New York governor David Paterson has just unveiled his $131 billion (yes, billion, with a "b," in a state budget) budget plan. What fun things are inside?
Well of course the first thing is to, you guessed it, raise taxes on "the rich." "The rich," says governor Paterson, "are going to do their fair share in trying to close this budget deficit and now all those that were yelling for them to do it need to do the same." The way Paterson talks you would think it was the rich that spent New York into massive debt while Paterson and the state legislature were just innocent bystanders. Unfortunately, in NYC, the rich are paying their fair share plus about 170 other people's shares.
Earlier this year NYC mayor Michael Bloomberg basically admitted the rich were already paying their fair share. He said that about one percent of NYC residents were paying 50% of the taxes and a little over half of the other residents pay no tax at all. So in a city of eight million people there are about 40,000 that support the entire welfare state within it not to mention essential services. "The question is," Bloomberg asked, "'What's fair?' If one percent are paying 50% of the taxes, you want to make it even more?"
I also love Paterson's line about those that were yelling for the rich to pay more taxes now have to do the same. I bet they never thought that was part of the deal! I'm sure they just assumed that the rich would be stuck with the bill and they could sit back and feel good about themselves. I wonder how these people feel now knowing they also get to pay "their fair share" as defined by governor Paterson? Critics are expecting that these average people will be paying about $5,000 more a year in taxes and fees.
So how much will taxes go up? For those earning over $500,000 it will be a raise of 31%. For single people earning between $250- and $500,000 a year and married and joint filers earning $300- to $500,000 taxes will go up 14 and 1/2%. Even for those that earn up to just $65,000 a year (not much in New York) taxes will be at a rate of 6.85%. You have to realize that, by New York standards, $300,000 isn't rich! And all of this is supposed to generate an additional $4 billion? I doubt it. How many of these people will leave (radio host Rush Limbaugh has already vowed to leave)? How many will just work less. Rush himself summed it up pretty well: "It's axiomatic: when you raise taxes on an activity, you reduce that activity. People start doing that activity less. In this case: working."
In addition to raises in income taxes, the state is also planning to hike fees on everything imaginable. Motor vehicle registration will go up, public college tuition will go up (I thought the Democrats were always complaining about the high tuition costs, yet it's the Democrats raising the tuition fees!), even bottled water! They're now proposing a nickel deposit on bottled water! And of course there's the obligatory tobacco tax, now raising taxes on cigarillos to bring them in line with cigarettes.
And how does Paterson and the Dems behind this budget expect to get it passed? By using the oldest scare tactic in the book; claiming that if the budget isn't passed essential services, such as police and fireman, will have to be cut. That is a complete lie. There are thousands of other unnecessary, redundant government services that could always be cut instead of essential services, but doing so might make people less dependent on the government and votes may be lost so of course that can't be done.
Sadly, this may be a view into what is planned for our country as a whole; higher taxes, more fees, less freedom. The Democrats are already in a full out class war in an effort to get "the rich" as hated as possible. Once we all hate the rich it will be easier to raise taxes on them. But what people don't realize, and what Paterson said is, "now all those that were yelling for [the rich to pay their fair share] need to do the same."
Luckily at least some are standing up to the budget. State Senate Minority Leader Dean Skelos, a Republican from Long Island, said, "These numbers are absolutely staggering, and the height of irresponsibility on the part of the Democrat leadership in this state. The public should be outraged." I'm sure some people are, but most people, I'm sure, have no idea what's really coming their way.
unbelievable!!
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