Cuomo Blames Trump Tax Plan for Reduced New York Tax Collections

[IsailedawayfromFR]

New York collected $2.3 billion less income-tax revenue than predicted for December and January, a development that Governor Andrew Cuomo blamed on wealthy residents leaving for second homes in Florida and other states that received more favorable treatment in the tax law enacted by President Donald Trump and the Republican Congress.

The shortfall will require a new look at the $175 billion budget Cuomo submitted to the legislature last month, he said. If the trend continues, the governor said it would affect spending on high-expense items such as health, education, infrastructure and a planned middle-class tax cut.

“There is no doubt that the budget we put forward is not supported by the revenue,” the Democratic governor said during a news conference in Albany. “If even a small number of high-income taxpayers leave, it has a great effect on this tax base. You are relying on a very small number of people for the vast amount of your tax dollars.”
https://finance.yahoo.com/news/cuomo-blames-trump-tax-plan-185801569.html

This is an imbecilic statement, to believe that the feds are controlling New York's finances.

New York controls its own spending and has been riding on the back of other Americans to fund their liberal spending schemes.  Suck it up, New York - you are the one driving the taxpayers out of your state.

[skeeter]

The federal government is no longer subsidizing blue state spending to the degree they were before. Maybe now the moron voting majorities in CA & NY will take a harder look at their state's ludicrous spending habits.

[IsailedawayfromFR]

The federal government is no longer subsidizing blue state spending to the degree they were before. Maybe now the moron voting majorities in CA & NY will take a harder look at their state's ludicrous spending habits.

I doubt it.  These are the true believers voters placed in office.

Instead, the voters will have to weigh in and get a new team to lead the state.

[truth_seeker]

There are plenty of tax advisors telling their clients to take the risk of audit.


The richtax payers will claim to have resided in NYS for fewer dayes. And will claim less of their taxable income, was derived from NYS state sources.

IOW it will be worth it to them, to commit fraud.  Mostly upside and little downside for them.

[Fishrrman]

skeeter wrote:
"Maybe now the moron voting majorities in CA & NY will take a harder look at their state's ludicrous spending habits."

Heh. Ya think....?

They'll end up RAISING taxes on the middle class, and everyone else.

[IsailedawayfromFR]

The high earners will be leaving in even greater numbers since the Dems now control both State houses, a position only seen in two years since WW2.

With the ultra-liberal Governor, the handwriting is on the wall to raise taxes and spending in the name of 'Investment'.

It has past its golden years, for certain.

Now if Trump can kick the UN out of NYC, it will finally become the third world country it has been begging for.

[Frank Cannon]

LOL. What a jackass. Mario the Second knows exactly what the problem is. People are leaving his corrupt ugly state in record numbers....

New York ranks No. 1 in losing residents to other states

https://www.bizjournals.com/newyork/news/2018/05/25/new-york-ranks-no-1-in-losing-residents-to-other.html

New York is top in the U.S. in terms of its residents leaving for other states.

In 2015, New York had a population of 19.5 million. By 2016 (the latest year available), it shrank to about 19.3 million, resulting in a net drop of 186,000 people.

This trend has been the case for awhile, as census data shows more New York citizens have been moving out of the state since around 2011. This exodus from New York is due to many factors, the top ones cited by experts being recent tax hikes, high cost of living, a poor jobs climate, and unideal weather.

Now this horse faced moron is going to be killing more and more residents with abortions.

[jmyrlefuller]

LOL. What a jackass. Mario the Second knows exactly what the problem is. People are leaving his corrupt ugly state in record numbers....

New York ranks No. 1 in losing residents to other states

https://www.bizjournals.com/newyork/news/2018/05/25/new-york-ranks-no-1-in-losing-residents-to-other.html

Now this horse faced moron is going to be killing more and more residents with abortions.

But hey, those "extreme conservative Republicans have no place in New York," remember?