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He runs around saying his administration has been fiscally responsible and not to blame for current and predicted fiscal crisis; but facts speak for themselves.
What AC did do as part of "Three Men In A Room" budget process that runs this state is what NYS government does best; plays musical chairs with a bit of fiscal slight of hand as a twist.
Use of one off revenue, delaying this, moving that, and so forth allows things to appear one way on paper; that is if anyone can truly understand what has happened at all.
He mastered this game when Secretary of HUD. And no doubt learned from daddy.
$2.8 billion income tax shortfall (New York, Albany: sales, insurance, credit)
Quote:
Originally Posted by markjames68
Gov. Andrew M. Cuomo on Monday announced a dramatic drop in state income tax revenue of $2.8 billion, which he says will prompt him to revise his 2019-20 budget and reconsider spending on schools, health care and repairs to roads and bridges.
Cuomo, a Democrat, blamed the shortfall on a federal tax plan backed by Republican President Donald Trump. Cuomo said the law's cap on deductions for state and local taxes at $10,000 was to blame and suggested it is, anecdotally, triggering high-earners to leave New York.
Didn’t he have a plan to make them “charitable deductions” not subject to the cap? What happened?
And why was this such a convenient surprise after the election?
It is only going to get worse Andy. You politicians are beginning to run out of other people's money.
For years, your party took over this state by making promises and buying votes even though in the long run it would eventually be unsustainable. For a while they got away with it by using the revenues of one of the wealthiest states in the Union. After that they began to heavily raise taxes and eventually nickel and dime everything.
Over the years some people left New York, mostly for retirement. But now it is different, people of all ages are beginning to wake up, young, middle-aged and seniors. Many realize they will never be able to afford a home, pay the taxes or retire in this state. Others are beginning to question whether New York is worth the cost even if they can afford it.
The decision drew swift condemnation from the Greater New York Hospital Association and the state's largest health worker union, 1199SEIU, two of Cuomo's closest political allies.
Of course, Public Employee Unions.
NY has become a haven for freeloaders, and Cuomo&Co. know those folks can literally be driven to the polls on election day, to vote for yet more 'free stuff'.
Thanks for sharing this, it just might be the straw that breaks NY's back. Hospitals across the state would suffer a lot without that boost from Medicaid, and as we all know that program is a pet of Cuomo's. NY has a gold-plated Medicaid plan that does not require any co-pays from recipients, in fact NY's Medicaid costs are more than CA and TX, combined.
The writing is on the wall. My brother-in-law is fairly high up in the food chain at Strong Health. After the ACA passed, and people were finally allowed to read it, it turns out one provision within it allows health systems to buy others, across state lines. I'd imagine that with a huge Medicaid shortfall, a lot of NY hospital systems could be vulnerable and might end up for sale. My BiL's take on it is an organization like Cleveland Clinic or what have could, conceivably, jump into the health marketplace in New York, and start buying up hospital systems.
The changes to SALT, and some other factors, have unmasked NY's high tax and regulatory regimen for all to see. On a personal level, I travel a lot for work, which takes me to a few Midwestern states. When I tell people what my taxes were in NY they often times don't know how to react. Pick a metro the size of any Upstate, NY, metro, and compare the tax burdens within.yhem to similar metro in other states, as well as income left over after taxes and bills, and the numbers are staggering. A Midwestern state with a lot of the same fiscal woes andloses in population is Illinois, the similarities to Upstate, NY, are eerie. IL has obscene property taxes in the Chicagoland area.
As others here have noted, older NYers continue to flee, but NY is not alone in that regard. I've met people in Indiana who moved there from AZ, CA, IL, etc. Boomers with decent or good retirements who want their $$$ to go further, and are sick of being fleeced where they lived their adult lives. Other transplants I've met in lower Cpl states in recent times are in their, 30's.
I for one am hoping that Andrew runs for the presidency - he rules over all aspects of his local pond here in NY, but I'd like to see how he fares against a national pool that isn't intimidated by a bully. A failed run should knock that pile of money that he has for elections that we are always hearing about down a peg or two.
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$2.8 billion income tax shortfall (New York, Albany: sales, insurance, credit)
