Tag: Taxes and Spending

If Gov. Andrew Cuomo thinks taxes are so burdensome in Upstate New York, why not cut them for every business? That's the Empire Center's reaction to Cuomo's plan unveiled Wednesday that would create tax-free zones around SUNY campuses for employers and employees. "In the final analysis, highly touted 'economic development' programs built on a promise of significant tax relief ultimately beg the same question: If our taxes are such a hindrance to growth, why not reduce them for everyone?" wrote E.J. McMahon, senior fellow for the Empire Center, in a blog post. Read More

Be warned, New York: The next mayor will face an epic challenge in protecting you from paying a whole lot more to get a whole lot less. On Inauguration Day, Jan. 1, Michael Bloomberg’s successor will confront huge unpaid bills whose payment would require dramatically raising taxes, slashing spending, or both. Read More

When a government watchdog as knowledgeable as Steven Greenhut, a Bloomberg View contributor, writes that California deserves to knock New York out of last place in rankings of state business climates, it’s tempting to agree. If only he had a stronger case. Read More

With the City of White Plains facing a potential 23.5 percent tax hike, you might expect bold action to curb health care costs. Instead city politicians took a timid approach likely to produce small savings this year. Currently, city employees con Read More

Westchester County employees have no reason to complain about the high cost of their health insurance--$7,992 for individuals and approximately $22,000 for families, because they pay nothing for it--unless they are property taxpayers. County Execu Read More

As another budget cycle begins, Governor Pataki is once again citing his record of spending restraint. Adjusted for inflation, however, the rate of state spending growth actually has been higher in Governor Pataki's first two terms than it was in Mario Cuomo's last two terms. Read More

Mayor Bloomberg's proposal to raise the city’s cigarette tax to $1.50 from 8 cents per pack is expected to cut taxable consumption in half, as many more smokers quit, cut back, or turn to alternative sources out of state or on the Internet. This would undermine the financing for Governor Pataki’s health care programs, which depend partly on revenue from the state’s cigarette tax. Read More

A majority of City Council members has called on the council leadership to back a city income tax surcharge of up to 55 percent on high-income New Yorkers. This $1.23 billion tax increase would have a devastating impact on the city's economy, leading to the loss of another 48,000 jobs, according to the Manhattan Institute’s tax policy analysis model. It would boost the combined state and city income tax rate to a maximum of 12.5 percent—nearly double the next-highest rate in any neighboring state. Read More