Cuomo’s latest tax plan will hurt New Yorkers
If one of the primary objectives in a class war is to publicize costs and privatize profits, then Gov. Andrew Cuomo is certainly doing just that. Recently, our governor and the State Legislature passed an increase to the minimum wage. This wage increase will mean employers pay an additional 40 cents per hour, while the remaining $1.35 is subsidized by the state (meaning its citizens). The lesson is striking. Since businesses won’t pay a living wage, then we have to pay for one ourselves.
Now Cuomo, who seemingly rules by fiat, has issued his latest proclamation. New companies will now be able to locate next to our state universities and then will pay neither sales, property, business or corporate taxes.
The current economic war began two generations ago, when corporations fled to the South from the industrialized North due to “high-priced, unionized labor” and “prohibitive local and state taxes.” Then, within a single generation, those same corporations fled from the South to overseas locations because of “high-priced, non-unionized labor” and “prohibitive federal taxes.”
I very much believe that we should be manufacturing most of what we consume here in the United States. But this process needs to be properly conceived and enforced. It has to include the taxing of business profits in conjunction with meaningful pay and benefits for the employee. It is a system that can be managed only by a federal government. Meanwhile, what we plan to do in New York, unwittingly or not, is to give away the keys to our house and the car.