Cuomo is going to lower taxers in New York and fairy tales begin with once upon a time

Quote:New York Gov. Andrew Cuomo said Wednesday that the state government would explore a “major” overhaul of its tax system to circumvent the cap on state and local tax deductions imposed by Republicans at the federal level.

“We must protect New York taxpayers from this assault,” said Cuomo at his state of the state address. Cuomo has proven to be the most vocal critic of the new $10,000 limit on the deductibility of state and local taxes.

In a document outlining his plans, Cuomo said the state “will explore the feasibility of a major shift in tax policy,” and said officials are developing a plan to “restructure the current income and payroll tax system.”

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Its called "reducing outrageously high taxes at the state level". Good luck with that.

Its also called "paying your fair share" like people in the other states have been doing all along.

He isn't cutting any taxes, he might raise fees and tolls as well as sales taxes, gas/excise taxes, etc and New Yorkers will simply pay in other ways. One way or another he will feed the elephant.

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In other words NY Way over taxes it's residents. Come on California, New Jersey, Conn. Fess up , You do too !

not a 'soul man' saw this c(u)om(o)ing...

creative accounting is their specialty....

Looks like NY is gonna have to come up with some more commercials to try and get people to move to the state.

(01-04-2018 09:30 AM)VA49er Wrote:  Looks like NY is gonna have to come up with some more commercials to try and get people to move to the state.

CA and MI tried that a few years ago.....oops....

it's too funny how ND didn't have to spend a dime....

(01-04-2018 09:30 AM)VA49er Wrote:  Looks like NY is gonna have to come up with some more commercials to try and get people to move to the state.

Bigly high taxes, poor smog, $20 tolls, failing newspaper, 9/11 rooftop celebrations, all-muzzy taxi/Uber drivers, U-hauls mowing down touriststs... they might consider promoting upstate this time.

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(01-04-2018 09:34 AM)stinkfist Wrote:  

(01-04-2018 09:30 AM)VA49er Wrote:  Looks like NY is gonna have to come up with some more commercials to try and get people to move to the state.

CA and MI tried that a few years ago.....oops....

it's too funny how ND didn't have to spend a dime....

It's almost as if they haven't got a clue.....

(01-04-2018 09:36 AM)VA49er Wrote:  

(01-04-2018 09:34 AM)stinkfist Wrote:  

(01-04-2018 09:30 AM)VA49er Wrote:  Looks like NY is gonna have to come up with some more commercials to try and get people to move to the state.

CA and MI tried that a few years ago.....oops....

it's too funny how ND didn't have to spend a dime....

It's almost as if they haven't got a clue.....

this is when us po' folk get to laugh on a daily basis....

(01-04-2018 09:19 AM)UofMstateU Wrote:  Its called "reducing outrageously high taxes at the state level". Good luck with that.

Its also called "paying your fair share" like people in the other states have been doing all along.

Yes, this is what bothers me the most about some of the complaining officials from NY and other high tax states. Essentially they've been pillaging low tax states for many years due to the SALT deduction. Also, they've gotten away with raising state taxes because their residents can just offset them via SALT deductions. SALT deductions encourage state tax increases.

Its like telling the old Viking raiders to stop pillaging our coastline. Then the Vikings complain we're hurting them by stopping their pillaging of us.

The media are in those high tax states so they only present one side of it with an occasional mention of a lower tax state perspective.

This is an interesting article on how renters, who are mostly lower income and middle income earners, won big with the new tax law.

New Tax Law Is Huge Win For Renters

Lmao... the sheeple in NY are finally going to KNOW and FEEL how badly their state screws them every year with state taxes. Enjoy it.

(01-04-2018 09:50 AM)usmbacker Wrote:  This is an interesting article on how renters, who are mostly lower income and middle income earners, won big with the new tax law.

New Tax Law Is Huge Win For Renters

Not sure I agree with this premise from the article.....

Quote:Homeowners have been able to deduct interest on their mortgages, home-equity loans and property taxes. Meanwhile, everyone — including renters — footed the bill for these deductions by paying higher rates.

BUT MUH BLUE STATES PROP UP THE RED STATES

(01-04-2018 09:45 AM)Siborg Wrote:  

(01-04-2018 09:19 AM)UofMstateU Wrote:  Its called "reducing outrageously high taxes at the state level". Good luck with that.

Its also called "paying your fair share" like people in the other states have been doing all along.

Yes, this is what bothers me the most about some of the complaining officials from NY and other high tax states. Essentially they've been pillaging low tax states for many years due to the SALT deduction. Also, they've gotten away with raising state taxes because their residents can just offset them via SALT deductions. SALT deductions encourage state tax increases.

Its like telling the old Viking raiders to stop pillaging our coastline. Then the Vikings complain we're hurting them by stopping their pillaging of us.

The media are in those high tax states so they only present one side of it with an occasional mention of a lower tax state perspective.

yepper.....

#kaboom

#finally

#exposed

and all it took was a crook(s) to challenge the rook(ie).....the king and queen are still sitting tight with plenty of knights and bishops that protect the pawns....

what a beautiful game this still is.....

(01-04-2018 10:03 AM)MemTigers1998 Wrote:  BUT MUH BLUE STATES PROP UP THE RED STATES

Three blue stats, California, Illinois and New York have been leading all states in loss of residents before the new tax law. Imagine how that number is about to increase.

(01-04-2018 09:58 AM)VA49er Wrote:  

(01-04-2018 09:50 AM)usmbacker Wrote:  This is an interesting article on how renters, who are mostly lower income and middle income earners, won big with the new tax law.

New Tax Law Is Huge Win For Renters

Not sure I agree with this premise from the article.....

Quote:Homeowners have been able to deduct interest on their mortgages, home-equity loans and property taxes. Meanwhile, everyone — including renters — footed the bill for these deductions by paying higher rates.

I think the same argument could be made for any subsidy or tax deduction. Each are targeted to a sliver of the tax base so all other tax payers must make up that slack. MID is just a very large example.

(01-04-2018 09:58 AM)VA49er Wrote:  

(01-04-2018 09:50 AM)usmbacker Wrote:  This is an interesting article on how renters, who are mostly lower income and middle income earners, won big with the new tax law.

New Tax Law Is Huge Win For Renters

Not sure I agree with this premise from the article.....

Quote:Homeowners have been able to deduct interest on their mortgages, home-equity loans and property taxes. Meanwhile, everyone — including renters — footed the bill for these deductions by paying higher rates.

I'm curious.....please elaborate....

I'll give you my take first...

if their cash flow begins to dry up AND the jobs begin to move south, the demand for tenants will also move elsewhere....over inflated wages and housing values will begin to decline and move to the center

I think you're getting ready to see a mass exodus and investment in the states where investment yields more bang for the buck in the next decade like none since the industrial revolution/gold rush

after recovering from the housing fiasco, we're cash heavy.....

there isn't a company (coo) in their right mind that would invest in an over taxed state.....

@timesareachanging

#henceDJT

ol' boy is pulling it off by the 'minuteman'

the midwest is getting ready to explode....

This is going to be a shift from taxes to fees, but in a state as highly taxed as NY, which also has high fees, how do you fix this? Also the State can't fix the local property taxes.

I suppose they could raise the sales tax. They are pretty low at a 4% state rate. They could also look to implement a capitol gains tax while lowing the income tax.

I think the big take away here is that the GOP tax cut is not an assault, because the states can clearly change how they raise income. Unlike the ACA which was an attack, that forced people to buy a product they did not want.