New York State is facing a $2.3 billion budget deficit, and Gov. Andrew Cuomo believes it’s largely due to the Trump administration’s tax reforms which, on the “flip side,” have taxed the rich and may be encouraging wealthy residents to leave.
President Trump’s Tax Cuts and Jobs Act, which takes effect for the 2018 tax year, places a cap on the amount you can deduct from state and local taxes. In high-tax regions like New York and California, it’s a blow — for the government, that is.
It’s always nice to see politicians suffer. They inflict suffering on their victims — productive, hard-working people — while never being held accountable, and actually being awarded with more platitudes and power.
So let’s savor the moment while we can.
New York state’s current fiscal crisis has been created by the fact that rich people are deserting high-tax states. It’s the same thing rich people do in Venezuela, Cuba and other socialist paradises. When taxed and morally condemned beyond any reason, the hated rich will simply leave. And go somewhere they’re not hated and taxed, at least not as much.
If the rich are so evil and bad — as we’re told relentlessly and hourly by leftists in media, academia, government, sports, rock music, Hollywood and government-run public schools — then why is it such a crisis when they leave? Well, leftists? Tell me why. I would think New York Governor Cuomo would be delighted to have them flee. More poverty in New York means more people dependent on his handouts and programs. That’s all socialists want.
This is what happens when you depend on the people you denounce. It’s the lethal contradiction of socialism. And it’s why the socialists WILL lose in the end, no matter how many short-term battles they win, in the meantime.
If the rich went on strike and stopped spending, investing and producing tomorrow — that would be the end of socialism, in 5 minutes.
Why do high tax states like New York and California depend on federal tax deductions in the first place? Normally leftist politicians hate tax cuts and deductions — unless for their own campaign-supporting cronies, of course. So why is Andrew Cuomo now suddenly mad at President Trump for not permitting enough of a tax deduction for people to afford living in states like New York and California?
As usual, leftists and socialists are blaming the victims. The victims are the people who are punished for exhibiting productivity. As Marx said, “From each according to his ability — to each according to his need.” Socialism means the able and willing work — as slaves — for the sake of the unable, or the unwilling.
If Andrew Cuomo feels sorry for the citizens of New York state, then he should work night and day to lower taxes — along with government regulations, which are an indirect form of tax on everyone, because they make life more difficult and expensive for everyone (especially the poor and middle class who feel the impact). Instead, he does precisely the opposite: Tax, regulate, spend, borrow…tax, regulate, spend, borrow.
It’s kind of like a gambling addict standing in front of the casino screaming, “They took all my money.”
New Yorkers and Californians — as well as the residents of other incurably blue, high tax and big government states — do not have to be in this situation. If they don’t like fewer federal deductions for their high tax rates, they are free to elect officials in their states who will drastically reduce taxes.
Why won’t they?
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