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ALBANY - Property taxes would be cut by $1.5 billion in 2007-08 under a proposal announced Tuesday by Gov. Eliot L. Spitzer.
The average homeowner's property tax bill in Erie County would be cut by about $400 in the coming fiscal year, beyond what is already planned under the state's STAR tax-reduction program. The cut, which targets middle-class taxpayers, would especially benefit families making less than $60,000 annually.
I believe it is a small start in the right direction. A couple hundred dollars does not mean much when we already pay a couple more thousand than we should. I think its a start and I think it could be passed.
I'm expecting the cut to become negated by his other proposal of longer school days and years, up to another full month. The teacher's unions aren't going to sit still without a raise, and that in my estimation is going to bring taxes right back where they were in the first place.
I waiting for the rest of the information to be delivered regarding this tax cut. A tax cut for the middle class with no reduction in spending means only one thing... more taxes shifted to the "rich" & businesses. If it does impact businesses, then it's all for nothing as more companies will leave the state. He also campaigned on fixing the business climate and workers comp issues. We'll see. Seems like a shell game to me...so far. Do I trust them.... no, not really. It's NY politics after all. Where all the legislative decisions are made by three men (Gov, Assy Leader, Sen. Leader) and the game is to go along to get along. I am hopeful.... but wary.
The state needs to cut waste, bureaucracy, etc. Medicaid and welfare needs an overhaul. Then you can really cut some taxes. $1.5b in a $100 plus billion budget is not too impressive.
Actually, he's adding taxes to some businesses, closing some loopholes he said. There are instances of abuse in that regard for companies who were suppose to add employees and haven't.
The university/business research consortiums were Pataki. I don't see any thoughts in that regard so far with Spitzer nor for the money Pataki put in to upgrade state university physical campuses.
One hard dynamic to overcome is that nearly half of the state budget is spent on medicaid and social programs. I'd like to see a study to see what percentage is elders in nursing homes and what percentage is people working at poverty wages. I'm betting that's what the majority of it is which means the lack of decent paying jobs is having a negative and continuing pull downward on the state.
They've also proposed increasing cigarette taxes yet again. I think this will backfire too. The indians are building capacity to manufacture on their reservations. Last time there was a confrontation they closed down all the major roads running through their property. Legislators seem to think this is 'their' lost money when it never belonged to them in the first place.
In my mind Pataki had the right idea - invest in growing new businesses with the what and who we have. After all, we have more colleges here than most other states and graduates can't find jobs.
We'll see how Spitzer does. He promises to review all departments for efficiency.
Actually, he's adding taxes to some businesses, closing some loopholes he said. There are instances of abuse in that regard for companies who were suppose to add employees and haven't.
Yes... this is a proposal to cut some "loopholes".. while we should also recognize that most businesses operate within the rules to the best of their abilities. And even those that may have not met all the requirements to add employees... I wonder how much buracracy they had to deal with to get the "loophole". So far, there have been no proposals to cut spending. That's what this is should be all about, not the game of cutting a small amount of middle income taxes over a few years.
Note: NYS has some of the overall highest tax rates in the nation. And we have better schools, better roads, better social services, better healthcare, better sports stadiums, better mass transit, better local governments than anyone else..... ever! OK... that may have been a little over the top, but I hope I've made my point. This state has an unbelievably huge bureaucracy and there is no real belief that will change.
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Spitzer cuts
