Commentary

Cuomo’s magical tax thinking by E.J. McMahon |  | New York Post

The governor said he’d explore the feasiblity of “a major shift” of New York’s state tax burden from individuals (who will be losing federal deductions) to businesses (which will be keeping them), via a new statewide payroll tax on employers.

The idea might sound plausible on the surface. But on closer inspection, replacing even part of New York’s personal income tax (PIT) with a payroll tax would be fraught with mind-bending complications — and not very feasible at all. [Read_more]

What the tax bill really means for New York by E.J. McMahon |  | New York Post

You don’t have to be a fan of the federal tax deal to realize its impact on states like New York has been misrepresented by most of its leading political critics. [Read_more]

The NY tax hike in Trump’s tax cut by E.J. McMahon |  | New York Post

Plenty of unintended consequences, positive and negative, will be lurking in the fine print of the tax-reform bill unveiled Thursday by House Republicans.

But it’s already clear the plan would clobber Albany’s favorite cash cow: the seven-figure earners who generate more than 40 percent of the state income tax. [Read_more]

The conservative case for keeping SALT in US taxes by E.J. McMahon |  | New York Post

Hypocrisy aside, Cuomo’s strident opposition to repeal of the SALT deduction is understandable. Even with a larger standard deduction, the outlined plan might not deliver a big tax cut for middle-class New Yorkers. [Read_more]

Why N.J. commuters are N.Y.’s economic development cash cows by E.J. McMahon |  | Star-Ledger

New York pols need to recognize that it's in their own interest to pay more attention to these commuters, if only to keep their tax payments flowing smoothly. At the very least, that means giving a higher priority to infrastructure improvements that benefit taxpayers on both sides of the Hudson. [Read_more]

Wisconsin Lesson for NY by E.J. McMahon |  | New York Post

President Trump last week suggested that economically struggling upstate New York residents should be willing to move to areas with better job prospects. This wasn’t exactly an original or outrageous idea — yet it still managed to ruffle feathers among defensive New York officials. [Read_more]

A few billion Cuomo can send to the MTA now by E.J. McMahon |  | New York Post

Over the past three years, Gov. Andrew Cuomo has reaped an unprecedented windfall of more than $10 billion in fines and penalties paid by major financial institutions for violating various state and federal banking laws.

Coming virtually out of the blue, the windfall represented a unique opportunity to get ahead of the state’s most pressing problems — including but not limited to those of the transit system.

It’s an opportunity Cuomo has mostly squandered. [Read_more]

A crazy push for single-payer healthcare in NY by Bill Hammond |  | New York Post

Albany Democrats never got the memo that there’s no such thing as a free lunch. They’re peddling a universal health-care plan they claim would not only cost nothing more, but leave the state $45 billion richer.

The plan might as well be signed by a Nigerian prince. [Read_more]

Defuse this city pension bomb | New York Daily News

Wednesday, Mayor de Blasio presented a fiscal 2018 Executive Budget that called for pension contributions totaling $9.6 billion — another all-time high. Yet city pension plans remain significantly underfunded even by lenient government accounting standards, posing a big risk to New York’s fiscal future. [Read_more]
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