Democrats have no principles. A bold statement, to be sure, but I can back it up. Just watch Governor Cuomo twisting himself into a logical pretzel over SALT (state and local taxes.) The Tax Cuts and Jobs Act, better known as the Trump tax cuts, passed in December of 2017, limiting the amount of state and local taxes deductible on federal income tax returns to $10,000. This effects only wealthy taxpayers. Who else has deductions of state and local taxes of $10,000 or more?
Cuomo and his Democrat buddies run New York. They have held every statewide office since 2007 and enjoy a 2:1 advantage in voter registration. Democrats are always trying to increase taxes on the “rich.” They have demonized the rich
since FDR – he called them “princes of privilege” and “economic royalists.” Now Democrats call them greedy, selfish and so on. This is as dumb as it is cynical. So when the Republicans limited the SALT deduction, effectively raising taxes on the wealthy, you would think Democrats would be rubbing their hands in glee. But no, they were angry. They blamed Trump and his Republican colleagues for raising taxes on the wealthy – which wouldn’t be possible if Cuomo and company hadn’t raised them to begin with.
The following may be too sensible for most Democrats to grasp, but state and local taxes are the responsibility of the states and localities. What Cuomo is angry about is that his high taxes are no longer subsidized by other states with lower taxes. Cuomo and his cronies are now exposed, they have to own the effects of their “tax the rich” policies, and he is not happy.
New York is now facing a shortfall in projected revenue of $3.2 billion, the direct result of wealthy New Yorkers leaving the state. Cuomo calls this “serious as a heart attack.” The top 1% of New York’s highest earners pay 46% of all taxes. Maybe Democrats should now love the rich; 46% of all taxes sounds like the rich are “paying their fair share.” A reporter asked if the state should yet again raise taxes on the rich.” Cuomo said, “Tax the rich, tax the rich, tax the rich. We did! Now, God forbid the rich leave.” When average New Yorkers leave the state, as they have been, Cuomo is unfazed. We’ve lost 1.9 million people between 2005 to 2016, well before the SALT limitations took effect. First Cuomo blamed the weather for the New York exodus, now he blames Republicans.
Democrats (progressives) love taxes and regulations and hate incentives, which is what is needed. In the competition between the states for jobs, taxpayers wealthy and not, New York is the loser. Cuomo never mentioned the things that would bring people back to the state, a meaty tax cut and a corresponding reduction in New York state’s bloated government.
Michael A. Morrongiello, Ph. D.