ALBANY, NY – New York State is facing a public health crisis, a mental health crisis, a small business crisis, a job crisis and now a financial crisis under the leadership of Governor Andrew Cuomo. This week, Cuomo announced he wants to raised taxes to a top tier of 14.7% to save the state from going over the edge. To do it, he’s also demanding $15 billion in federal funding from his pal, President Joe Biden.
Over the next four years, New York is facing a $39 billion shortfall, with Cuomo only finding $1.5 billion in new taxes, fees and fines. Many of New York’s wealthiest inhabitants have fled the state and city in recent years, including former President Donald J. Trump who now lives in Palm Beach, Florida.
Meanwhile, Democrats Alexandria Ocasio-Cortez and Bill DeBlasio balked at Cuomo’s across the board tax increase, claiming there’s still enough rich people to plunder in the state, before they too leave.