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NY to raise state taxes

task0778

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82% for single filers earning more than $1 million, according to the person, who wasn’t authorized to speak publicly because a final budget hasn’t been reached.
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Taxes have been one of the largest points of contention between the governor and the legislature. In his January budget proposal, Cuomo called for a $1.5 billion income tax increase. But that was before the state knew how much money it would receive from a federal aid package. New York will receive only $12.6 billion of the $15 billion in federal aid it sought, leaving a hole of nearly $2.5 billion, budget director Robert Mujica said last week.

Leaders of the Senate and Assembly each discussed raising nearly $7 billion of revenue, which included proposals to increase income, estate and corporate taxes. The proposals include a 1% surcharge on capital gains income, a pied-a-terre levy and lifting the estate tax.

Business leaders have lobbied the Cuomo administration and state lawmakers to resist raising taxes, arguing tax increases now would drive high earners out of the state -- and especially New York City -- while the economy struggles to recover from the pandemic.




Okay, let's see if I got this right: these guys have been complaining about the SALT deduction that rises taxes on the wealthy, thus driving the rich folk out of NY, right? So, what do they do? Yup, raise taxes on the rich. Can't cut spending, oh no. Obviously they already know they're losing people with the most money to Florida, Texas, and elsewhere. I'm guessing that repealing the SALT deduction is going to be a very high priority for the Dems in every bill that is up for consideration.
 

AFrench2

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
 

andaronjim

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82% for single filers earning more than $1 million, according to the person, who wasn’t authorized to speak publicly because a final budget hasn’t been reached.
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Taxes have been one of the largest points of contention between the governor and the legislature. In his January budget proposal, Cuomo called for a $1.5 billion income tax increase. But that was before the state knew how much money it would receive from a federal aid package. New York will receive only $12.6 billion of the $15 billion in federal aid it sought, leaving a hole of nearly $2.5 billion, budget director Robert Mujica said last week.

Leaders of the Senate and Assembly each discussed raising nearly $7 billion of revenue, which included proposals to increase income, estate and corporate taxes. The proposals include a 1% surcharge on capital gains income, a pied-a-terre levy and lifting the estate tax.

Business leaders have lobbied the Cuomo administration and state lawmakers to resist raising taxes, arguing tax increases now would drive high earners out of the state -- and especially New York City -- while the economy struggles to recover from the pandemic.




Okay, let's see if I got this right: these guys have been complaining about the SALT deduction that rises taxes on the wealthy, thus driving the rich folk out of NY, right? So, what do they do? Yup, raise taxes on the rich. Can't cut spending, oh no. Obviously they already know they're losing people with the most money to Florida, Texas, and elsewhere. I'm guessing that repealing the SALT deduction is going to be a very high priority for the Dems in every bill that is up for consideration.
Yeah, raise taxes to raise revenue, watch the rich and middle class leave for greener pastures. Prog elites are such stupid people....
 

TNHarley

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
 

Mad_Jack_Flint

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Give the government a penny they demand a dollar instead!

Maybe for once the citizens of each State and the entire Nation should first ask the Government to cut fraud and waste before asking for more money...

I know I am delusional!
 

BluesLegend

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82% for single filers earning more than $1 million, according to the person, who wasn’t authorized to speak publicly because a final budget hasn’t been reached.
.
.
Taxes have been one of the largest points of contention between the governor and the legislature. In his January budget proposal, Cuomo called for a $1.5 billion income tax increase. But that was before the state knew how much money it would receive from a federal aid package. New York will receive only $12.6 billion of the $15 billion in federal aid it sought, leaving a hole of nearly $2.5 billion, budget director Robert Mujica said last week.

Leaders of the Senate and Assembly each discussed raising nearly $7 billion of revenue, which included proposals to increase income, estate and corporate taxes. The proposals include a 1% surcharge on capital gains income, a pied-a-terre levy and lifting the estate tax.

Business leaders have lobbied the Cuomo administration and state lawmakers to resist raising taxes, arguing tax increases now would drive high earners out of the state -- and especially New York City -- while the economy struggles to recover from the pandemic.




Okay, let's see if I got this right: these guys have been complaining about the SALT deduction that rises taxes on the wealthy, thus driving the rich folk out of NY, right? So, what do they do? Yup, raise taxes on the rich. Can't cut spending, oh no. Obviously they already know they're losing people with the most money to Florida, Texas, and elsewhere. I'm guessing that repealing the SALT deduction is going to be a very high priority for the Dems in every bill that is up for consideration.

It's part of the Dem scam to avoid paying their fair share of Federal taxes. By deducting the sky high state and local taxes on their federal return they can recoup the money. When Trump hit wealthy Dems with the SALT cap they squealed like stuck pigs, finally being forced to pay their fair share of Federal taxes. :auiqs.jpg:
 

AFrench2

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.
 

Jimmy_Chitwood

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.


So we will tax our way to prosperity?
 

TNHarley

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.
You basically just said the govt is more important than the private sector. :lol:
 

AFrench2

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.


So we will tax our way to prosperity?
If Biden wants to be the next FDR as the media is crowning him......yes.

It's his legacy to take. We shall see if he has the backbone to go after the rich.
 

andaronjim

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.
Never cut the government, which is full of bull shit programs and pork...Never that, just raise more taxes.. Congratulations you are a fucking moron...
 

BluesLegend

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Yeah, raise taxes to raise revenue, watch the rich and middle class leave for greener pastures. Prog elites are such stupid people....

It's already happened in other parts of NY state. Businesses and wealth fled then the Dem vampires sunk their fangs into the poor and middle class who can't afford to flee.
 

Nostra

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.
Your Socialist Community College education is showing, Kid.
 

AFrench2

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.
You basically just said the govt is more important than the private sector. :lol:
And you basically just explained Liberalism in a nutshell
 

AFrench2

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
And raising taxes is an even worse idea.
Raising taxes is what this country sorely needs in order to get the monkey off our back and reclaim #1 in the world in all factors and lead the globe into the new age of technology and science.
Never cut the government, which is full of bull shit programs and pork...Never that, just raise more taxes.. Congratulations you are a fucking moron...
We just had 4 years of Trump cutting the government. The EPA, education department, Oceanic and Meteorology departments, climate departments, Consumer Financial Protection Bureau...Post Office...social programs and welfare......

You had your way for 4 years, dawg :)
 

22lcidw

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New York Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion state budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.

The richest New York City residents would pay the highest combined state and city tax rates in the U.S., surpassing California, and income-tax rates would temporarily increase to 9.65% from 8.82%


Excellent.


Did NY consider cutting spending instead? (blueslegend said with extreme sarcasm)
We're in the middle of a pandemic recession and any economist on either side will tell you cutting spending is not a good idea.
Are taxes cheaper where you live? Volunteer to pay what people do in blue areas to your local and state governments if you pay less. They take donations.
 

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