Author Topic: Revealed: super-rich donate to Cuomo as he rejects tax hikes for billionaires  (Read 92 times)

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Offline rangerrebew

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Revealed: super-rich donate to Cuomo as he rejects tax hikes for billionaires

Investigation shows governor’s political machine has received money from more than a third of New York’s billionaire families
 
Walker Bragman and David Sirota
 
Published on Fri 31 Jul 2020 06.00 EDT
 

Governor Andrew Cuomo of New York has stood firm against intensifying pressure to avert massive budget cuts by raising taxes on the many billionaires who live in his state.
 
As that campaign to tax billionaires received a recent boost from Congresswoman Alexandria Ocasio-Cortez and New York’s Democratic state legislative leaders, Cuomo has insisted that he fears that the tax initiative will prompt the super-rich to leave the state. On Wednesday, he doubled down, warning that if the state tried to balance its budget through billionaire tax hikes “you’d have no billionaires left”.

https://www.theguardian.com/us-news/2020/jul/31/cuomo-new-york-governor-billionaires-super-rich
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Since special taxes on The Rich usually result in The Rich taking their assets elsewhere or structuring their economic activities to reduce their taxes, opposing soak-the-rich taxes is prudent.

More generally, I think having higher tax rates for The Rich is theft-by-government.
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