Saturday, May 14, 2011

Andrew Cuomo's 'Almost Solution' ...

Change the 'ap' to a 'ut', And We Have a Deal .....


      On the whole, we are OK with the way Governor Andrew Cuomo has run New York. Like his dad, he is not a favorite of the Unions, and that's fine with us... Since he was lucky enough to run against angry bat swinger- nut job Carl Paladino, his war chest is full, even after the election.  So, he's been using it to forward his agenda..



      Some of it has been for good in our eyes. Medicare reform was his first thing on the list. Now, Cuomo has turned his focus onto property tax reform.  Let us give you the skinny.  Property taxes in New York - and especially Long Island - are outrageous.  Nassau County is now the highest  taxed county IN AMERICA .... Suffolk County is not far behind at Number 12 nationally.  The low end is above $6-8000 annually. Most pay $10k, and Joe and Carol pay $17,000 a year for a middle class house.  When residents pay more for taxes than most others pay for their mortgage, then something is wrong. Taxes are up 80% in the past decade...



     Cuomo wants to stem the tide, by implementing a 2% tax cap.  While it sounds nice, we find it typical of many Democrats who just can't seem to find the tax paring knife.... Maybe it's a case of pushing that which you can pass, rather than what you should do, but to us, Cuomo is throwing a single bucket of water on a blazing fire...



    We're going to use the Doc Brown Space Time Continuum - Alternate Reality chart to make our point... Except we don't have it, so we're going to use a two line chart of Afghnanistan's population instead.



Simply put, the top line is where taxes are without a cut, and the bottom line is if you cut, then cap taxes.






That lighter green area is the money taxpyares would save, and it affirms what we all know - New Yorkers are paying too much taxes in the future, they are paying too much taxes now.....  To us, a one time small cut - any cut - then capping it at 2% makes sense.  It address both problems.  Secondly, Cuomo is wrong in stating that making smaller tax increases in the future will create jobs.  Running the same bad path, only at a slower rate only delays the inevitable.


Cut , then cap. 


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1 comment:

west_rhino said...

Oh wise economist, can you 'splain the Laffer Curve to imbiciles that vote these yo-yos in?