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A Pox on Your Tax

New York's high-end earners are our greatest export: our tax policy is driving them out.

The facts are in. New York is the only state in the union to have more of its residents unemployed this year than last.  It even beat California. This is an honor I can do without.  This is also expected.  According to the Tax Foundation, we have lost since the beginning of the new century 3.4 million high wage earners (minimum $200,000.00 annual income), taking $119 billion in taxable income with them.  Those are the people who create jobs and invest in business.

 You may say, "we are in a recession caused by President Bush, so what can we do about it?” You would be wrong. Yes, we are in a recession, but New York's confiscatory taxes are the cause. These people did not stop earning their incomes; they are earning them in less taxing states such as Florida, Texas and the Carolinas.  If taxes were a product of national policies, the high wage earners could not make their money in any state. 

In a related poll, New Yorkers are giving Governor Cuomo the highest approval ratings since past Governor Pataki's right after 9/11. Both ratings have in common public approval that is based on hype, not on fact. Pataki got his hand slapped by asking for $54 billion in federal aid instead of the more reasonable $22 billion we got. Past New York City Mayor Giuliani did the heavy lifting, while Pataki tried pigging out at the federal trough.

[To read on click here]

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Watchdog June 28, 2012 at 01:51 PM
The myths about these cops, perpetrated for years are being exposed like a peeled onion. Dangerous job? Not in the top ten. Lack of time with families? They have more time off than 99% of the taxpayers who pay their salaries. Concerned for citizens? Nit when seniors on fixed incomes have crumbling homes while $150,000 additions are being put on cops homes. Sure we need cops and everyone needs to be respected but these cops and insatiable demands are selfish acts and citizens are suffering because of the selfish acts of these cops. Shameful but true.
Clarkstown life July 01, 2012 at 02:16 AM
Mooooo-lick says what?
Mike August 09, 2012 at 12:09 PM
Spot on!
Mark Carolla August 09, 2012 at 01:54 PM
Unions are the reason we had a robust Middle Class after WWII until the Gordon Gecko's took over in the 80's & if one wants to get rich or become part of the "upper 1%" public employment still isn't a real option. But NY State's problem is local governments appear to have lost perspective on public employee unions and benefits. I'm a retired federal employee and my late parents were teachers in Rockland County & Upstate each for 30+ years, & current NY State benies are mind-boggling compared to what my parents earned and I've experienced. When I hear state and local employees have medical plans into which they pay nothing or 5-10% I'm astounded & amazed at defined benefit pensions in which they pay next to nothing. (As a federal civil servant I paid much more into retirement than I would have under Social Security & even with years of Social Security contributions I'll get next to nothing to preclude double dipping. Doing overtime to boost one's pension is forbidden under federal retirement. Feds generally don't get overtime. Only after 9/11 did DoD personnel get any - and straight time, not time & a half - for 50-60 or more hour weeks.) Those local benefits were because public salaries were so low & we forgot those benefits were in return for paltry salaries & as salaries rose, benefits were never adjusted. This was fine as long as all the taxpayers were doing well & getting equal benies; now that we all have been shafted NY State has a problem. Unions fault?
Mark Carolla August 09, 2012 at 02:25 PM
Chris - No easy answers - I live "down South" and the grass is always greener on the other side of the fence. I pay much higher state income tax on my pension in Virginia than I would in NY....and I pay more than $4,000 a year in property taxes on a 1.5 acre home and lot....admitedly not as much as I'd be paying in Rockland County. NY State has ALWAYS been as the bumper stickers used to say in the 60's "The Land of Taxes." As for unions and overtime boosting pensions, I know that doesn't happen with federal pensions (besides, what's a union?) and in most surviving private sector jobs.. In the private sector with unions crippled we've gone back to the days of working "off the clock" for free or being dismissed. Just before 9/11 United Airlines reservationists went union because among other reasons they would be fired if they took more than 3 of the 15 alleged sick days they were entitled to in a year. They repeatedly had their pay cut - take it or leave it. They could be placed on probation for going to the rest room more than twice on a shift. But...back to comparing NY costs with those in the South - the reason so many New Yorkers retire down South is because they can't afford to stay up there because of the property and other taxes...or so they think...until they have to pay $1,000 to register their car; deal with 5-7 day power outages) ; and for those of us of Italian Heritage finding there is no decent pizza south of the Delaware Memorial Bridge!!

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