Posted on 07/22/2023 11:57:04 AM PDT by ChicagoConservative27
On Friday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” New York State Comptroller Thomas DiNapoli (D) discussed the state’s projected $36 billion budget shortfall over three years and stated that taxpayers leaving the state is part of the issue along with the fact that the economy is slowing down.
DiNapoli stated, “I think there are a couple of factors happening: There’s no doubt the economy certainly is slowing and we are feeling the effects in the current year collections of the slowdown, as far as financial services, Wall Street’s a very important part of the economy in New York State, so it’s kind of catching up. And, in terms of our budget planning process, in New York, we have a somewhat strange calendar of the fiscal year. It starts on April 1, and, of course, you don’t have your hard tax collection date until April 15. So, the budget that was put in place, frankly, was based on more optimistic numbers. But, in the current financial plan — the Division of Budget — was taken down each year for the next few years, $5 billion in revenue and we’re now slightly ahead of current updated projections, which have been lowered, but the weakness, Neil, has been in the personal income tax collections.”
(Excerpt) Read more at breitbart.com ...
I bet the spending also contributes to the shortfall.
I remember some NY pol who, when he found out Rush left NY because of high taxes (among other reasons), the idiot pol stated ‘if I had known that was the way to get Rush to leave, I should have raised taxes long ago.’. Later, another liberal NY pol stated that ‘the well-off pay most of the taxes, so we better not chase all of them out.’. Too Late.
The idiots who remain will get to pay the taxes and energy bills that will soar.
It is time for all the TV Networks to pull up stakes and begin their move to Florida. Along with them, the Major Financial Houses to include Banks and Stock exchanges should follow them. Once those two Major Institutional Groups move, New York may realize that it is insignificant.
Never yet seen a Democrat government that will reduce taxes cut budgets, or repeal old bad laws.
One thing that has always irritated me is no one ever questions old decisions that were just wrong.
Like how Democrats going ape Schiff crazy about Roe V Wade being corrected and those decisions returned to where they belong in the State legislatures. Not in a court.
Gun control act of 1968 is wrong, Allowing government unions is wrong. Education dept is wrong. EPA has done it’s job and should be done away with, 17th Amendment has proven to be a disaster, et al
Clean house once in a while.
Anybody that makes a serious decision and does not reflect and adjust as required is an idiot.
I’m not afraid to make mistakes and errors, I’m afraid to not learn from those mistakes and errors.
The US Congress will bail them out... with money they don’t have either.
“..the state’s projected $36 billion budget shortfall over three years and stated that taxpayers leaving the state is part of the issue along with the fact that the economy is slowing down.”
But, but Bidenomics!
Does the NY State Comptroller DiNapoli think anyone
believes his explanation for the "budget shortfall"?
Questions:
(1) If you know the NY State budget is going to be short
why does NY keep increasing spending? Why doesn't
NY cut back spending everywhere?
(2) That's the spirit, blame the taxpayers that are leaving.
I'm sure they are responsible for NY's deficit. Why doesn't
NY ask the those people why they are leaving? Why don't they
ask billionaire Donald Trump why he left NY?
(3)The economy is "slowing down"?
Not according to Democrat Supreme Leader aka
Joe "The Big Guy" Biden. He thinks the national economy
is just fine. All of those congressional Democrat
critters in Washington think the economy is just great too.
I guess they are all happy with their slice of the pie.
That never crosses a politicians mind.
Actions have consequences.
The good news? There will be fewer gas stoves in New York!
It is so hard to understand just how incredibly stupid these people are. And I ain’t buyin’ the slowing economy shtick. There is a mass exodus of people with the financial means to escape and are slowly being replaced by illegal immigrants with a base of the economic underclass.
Yeah, good luck with that. And NO federal bailouts.
But they are not paying taxes yet. //sarc off//
Except shoplifting, assault, arson, etc.
I think New York needs to do what California is wanting to do.
Tax people for at least ten years after they flee, as if they were still full residents.
Let’s see how that impacts moves.
Politicians in liberal states can’t put 1 and 1 together.
None of them know economics or economic history.
They all think they are smarter than the last generation of morons and so off they go on their merry way raising taxes as a solution to the problems they themselves created.
No problem. After those “migrants” are provided with paid job training, housing, high speed internet, food stamps, healthcare, etc. they will easily make up the shortfall in a decade or two.
And yet the Gov and others invited Conservatives to leave the State — and they did. Democrats really are stupid and/or mentally ill — or both.
Keep voting democrat.
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