While He is running around cutting taxes on millionaires, and billionaires, he is begging Washington not to cut the 40 billion in state aid that NY receives annually.
ALBANY — Gov. Cuomo warned Friday that spending cuts contemplated by the so-called super committee in Congress could “significantly widen” the state’s gaping budget gap.
Cuomo, in a letter to members of the state’s Congressional Delegation, said the cost-cutting committee could deprive the state of billions of dollars in federal aid, including desperately needed Medicaid and transportation funds.
“We cannot allow the actions of Washington to undo the progress we have made here in New York,” Cuomo argued, urging lawmakers to “minimize” the damage the state could suffer.
The state’s 2012-13 budget gap is already projected to be about $3.5 billion.
story here.
The millionaire’s tax that he so desperately wants to let expire this year, if left in place, would bring in an estimated 4 to 5 billion next year.
So, let me get this straight, here he is, pleading with Washington not to cut aid to NY, but the man himself, is doing the one thing that guarantees he will need more federal aid in order to balance the budget!
Is this not the height of hypocrisy! This man should be ashamed of himself.
People need to understand this, so, even though I've said this before - ill say it again.
As the federal government cuts aid to the states, the states will either have to raise taxes, or they will have to find more inventive ways to make up for that lost revenue.
In NY for example, as federal funds for mass transit, and roads have dissipated, the state, and the city has had to raise tolls, and mass transit fares by a whopping fifty percent!
Worse yet, because of continued shortfalls, they are going to raise them again by a massive 100% over the next 3 years!
People need to commute every single day, and these enormous increases amount to hidden tax that can’t be avoided.
Even worse, these fare increases are incredibly regressive. If it costs 50% more to commute to and from work, one would expect a raise wouldn't they?
I humbly ask, When’s the last time the medium wage worker (that earns under 27k) in America got a meaningful raise?
No one should ever say that the poor don’t pay taxes, because when crap like this happens, we all pay for it in one way or another.
Don’t think this is just a NY problem, states accorss the US are happily rasing tolls and fares.
When that isn’t enough, they go in and increase the sales tax by a percentage point or two, and again, here is another regressive tax that they hope most won’t notice.
Couple the hikes in transit, with the yearly increases in medical and food costs, and you can see why Cuomo is so eager to cut the taxes for some of the richest people on earth, that they also just happen to live in NY must be a coincidence. Namely, Michael Bloomberg, and one of our best friends on Daily Kos, David Koch loves living in Manhattan, or so i hear.
Do you think Koch and Bloomberg are going to sell their 50million townhouses and move into the suburbs because Cuomo refused to give them a minuscule tax break?
If so, good riddance.
Check out my blogs, feel free to read them, or don't.
The visits would be nice though.
http://taxtherichrightnow.blogspot.com/
http://csainvestor.blogspot.com/