Image credit: LifeNews

This places New York in a major financial crisis and could take years to bounce back from!

New York Governor Andrew Cuomo warned of budget problems which come as the wealthy flee the state in droves.

As you might expect Cuomo blamed the Trump administration and the new tax plan for his woes, not the states high tax base, as Newsday reports:

Gov. Andrew M. Cuomo on Monday announced a dramatic drop in state income tax revenue of $2.8 billion, which he says will prompt him to revise his 2019-20 budget and reconsider spending on schools, health care and repairs to roads and bridges.

Cuomo, a Democrat, blamed the shortfall on a federal tax plan backed by Republican President Donald Trump. Cuomo said the law’s cap on deductions for state and local taxes at $10,000 was to blame and suggested it is, anecdotally, triggering high-earners to leave New York.

“At this point there is no doubt that the budget we put forward is not supported by the revenues,” Cuomo said at a State Capitol news conference. “It’s as serious as a heart attack.”

Cuomo said he’s not certain what areas might need to be cut, but said the biggest spending areas now are education, health care, infrastructure and another phase-in of a previously approved middle-class tax cut.

“I fear it’s going to get worse before it gets better,” state Comptroller Thomas DiNapoli said in a rare news conference with Cuomo. “It’s not all gloom and doom, but it’s a matter of very, very serious concern.” Tax revenues could rebound, he said, but he agreed with Cuomo that early indicators are not good.

Cuomo has until mid-February to submit amendments to his budget, which came in at $175.2 billion when he unveiled it Jan. 15.

The announcement also serves notice to the legislature, which for the first time in most of a half-century is controlled by Democrats.

The Democratic majorities in the Senate and Assembly have several proposals to add to the budget. Cuomo will no longer have Senate Republicans as an ally for fiscally conservative measures. The Republicans lost the majority in the November elections.

Who could have ever predicted that high taxes and penalizing success would drive out those you depend on to pay said taxes?

Maybe the governor will get the message that it’s time to cut taxes and make it easier to invest and do business in New York.

But I’m sure that is pure fantasy.

No Democrat in his right mind would ever agree to lower taxes. In fact Ocasio-Cortez and others in the Democratic party want to raise the top tax rate to 70%.

Cuomo wants to be president someday so he could never do anything as radical as reducing the tax burden of the citizens of New York.

Not since John F. Kennedy was President has there been a Democrat that understood lower taxes on the wealthy helps the poor.

source: thefederalistpapers.org

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41 COMMENTS

  1. Isn’t this what all democrats do Blame someone Else for their error’s. It seems they
    are all made from the same Filthy Cloth.

    • THIS IS SOCIALISM !!! NEW YORK HAS INVITED ILLEGALS TO COME TO NY FOR FREE HOUSING, COLLEGE, HEALTH CARE, FOOD, CLOTHING !!!! OTHER PEOPLE’S MONEY RAN OUT, AND THE RICH MOVED OUT TO AVOID THE HIGH TAXES !!!

  2. IF THE 65 MILLION AMERICANS WHO ELECTED DONALD TRUMP OVER THE COMMUNISTS WATCH THE SOU TONIGHT IT WILL BE A RECORD VIEWING. OBAMA BIN LENIN 2016 33 MILLION TRUMP 2018 45 MILLION SUPERBOWL 2019 95 MILLION.. CUOMO RESIGNS AS GOVERNOR. OPENS UP AN ABORTION CARD SHOP.

  3. Democrats have gotten so rotten and corrupt I cannot believe it they want open borders illegal aliens higher taxes and government run healthcare they are all lunatics and all you Democrats that voted for Democrats are nothing more than traitors to the American people you will get exactly what you deserve what you voted for which is nothing but corruption you lose your rights you will lose your money your income because you love Democrats stupid stupid people I’m ashamed of everyone of you

    • CUOMO HAS DESTROYED THE STATE OF NY AND NYCITY WITH THE IDIOT DEBLASIO. CUOMA, IF HE RAISES TAXES ANYMORE HE WILL ONLY LOSE MORE NYORKERS TO NC, SC, AL, GA. AND FL. I LIVED IN NC FOR 3 YERS AND THE TAXES WERE ONLY AN 1/8TH OF WHAT NYORK TAXES. OUR SCHOOLS ARE FALLING APART, OUR CHILDREN’S EDUCATION IS 47 OUT OF 50 AND THE DREGS OF THE BARREL. WE ARE 48 OUT OF 50 FOR HIGH TAXES. HE IS DOING NOTHING FOR THE WATER PROBLEM ALONG THE L.Ontario Shoreline,business are gone, homes destroyed and nothing from ALBANY>. If he ever thought of running for President. he certainly couldnt stand on his record as the NY Governor!

  4. Govenor Cuomo and his DemoCommunist are what is killing New York State and New York City, not Donald Trump but the DemoCommunist High Tax on wealthy Americans. So Governor Cuomo stop blaming others for your deeds you and your DemoCommunist are to blame for your poor economy not The G. O. P. so stop lying to everyone and be a man take Responsability for your broken States economy arsehole!

  5. The way I see it the liberals are going to be the cause of the next civil war. It’s getting closer and closer each day. We will need to fight to get our rights back. They lie during campaigning and do as they dam well please. They also are against Americans safety. They commit treason by allowing illegals in and supporting them.

  6. Did anyone doubt how good Cuomo would be for the state of New York? It seems that thru his follies he is doing a great job. Hang in there Cuomo, you are the first person causing long time families to look elsewhere for a place to live and pay reasonable taxes.

  7. Be carefully if the democrates gain more control they might stop you from moving.
    These people are Communist and all Communisium is .
    Is stealing
    There are no good democrates only ———- ones.

  8. If Cuomo thinks that Trump’s changing of the property tax code caused the wealthy to move away, then Andy should be hospitalized! Property tax deductions are not the only issue that is forcing people to move out of state. Cuomo himself is to blame for the increasing deterioration of New York with his social programs and billion dollar + giveaways to illegal aliens! There is nothing Andy won’t piss away money on. The MTA destruction is an example of his total incompetence which is hurting all commuters. Highway tolls are exorbitant, roads are in disrepair, regulations are excessive, he refuses to develop the economy of Western New York because it is heavily Republican, changed the name of the Tappan Zee in the middle of the night…..the list goes on and on! New York is losing it’s wealthy citizen because they are sick and tired of how this state has been run by Andrew Cuomo!!! That is the bottom line…and the future only looks worse because it is run by a total incompetent! Andy Cuomo, you are not fooling anyone here…blaming Trump for your incompetence is a total girlie-man lame excuse for the deteriorating conditions in New York. And by the way, why did Andy close down the Mooreland Commission Criminal Investigation when the investigators found all roads leading back to Andy Cuomo? Corruption is also rampant in New York and people are sick and tired of it. Cuomo should resign…NOW!

  9. cuomo and the mayor of NY with the rest of the democrat garbage they call congressman, are the problem. Now add ms cortez a know nothing factually comes in, NY’ERS are running out of the state. Cuomo the grand wizard of morons told NY if you are not a liberal you should not live here. Well i would love to knock him a on his as—, for that statement. I lived in NY all my life, 61 years and to hear that is just a terrible governor.

  10. Well…..the socialist democrats not only kill business & the economy with higher taxes, now they openly support killing children just before or just after birth. How absolutely abhorrent! Oh! Protect the illegals who come here to birth their children, but kill American children. Our country IS IN TROUBLE!

  11. He is like his Father A no nuthing Communist dicktator Baby Killer and trying to take A way ALL OUR WRIGHTS HE HAS TO GO>.

  12. Governor Andrew Cuomo says it’s okay to kill live babies! Cuomo says he’s a Catholic. Where is the Catholic Bishop with the guts to excommunicate Cuomo? How many dead babies will it take to get the Bishop’s attention? One? Twenty? Fifty? Ten thousand?

  13. What did the Communist Governor expect???? Keep taxing that’s the answer to everything eventually the PEOPLE get tired of paying for their ill spending government. You wanted to be a sanctuary city now it’s time to pay the piper.
    You want people to stay figure out how to be people friendly and tax friendly instead on a communist dictator who listens and follows the left like a whipped puppy. Monkey see Monkey do, good or bad. You can’t pay me enough to even visit NY let alone live there. Lead by example NOT by mimicking other cities especially cities in States that are so Bankrupt financially and morally. California is cracking and it’s only a matter of time before their facade of a State becomes a a state of bleak and dismal emptiness. Next!!!!

  14. Why don’t you just come out and admit you have ruined the state and take responsibility for your action instead of blaming your troubles on Trump. Any one who leaves is because of you and your way of running the government. If you don’t change the way you govern you will lose a lot more.

  15. Why don’t you just come out and admit you have ruined the state and take responsibility for your action instead of blaming your troubles on Trump. Any one who leaves is because of you and your way of running the government. If you don’t change the way you govern you will lose a lot more. Thank goodness you are not the President of The US.

  16. Why don’t these democrats get it? We live in a high-tax state, and it is getting higher as per the new governor.
    He recently said that there are no money for infrastructure maintenance/repair/building.
    Now my comment: For over thirty years we were told that the tax on gasoline was needed for
    infrastructure repair. Tax was going up, up, up but we never had enough money for infrastructure.
    Last Nov. voters apparently okay’d more tax on gasoline (for inftastructure)
    but we were told that that is not enough. More taxes to come, be prepared. This is California for you.
    We are conservatives and are taking our assets and leaving.

  17. New York State has been trying to lure new businesses by offering a ten year incentives by tax abatement —to bring their business to Como Land. Am I confused that Como recognizes that low taxes is the reason why any one would move and expand their company in the highest tax state in the union other than a competitive tax rate. What will happen after this 10 year time frame is up—-will these companies move out after 10 years and Como will be by then down the road and who ever is running the state must decide how to keep these businesses. The wealthy are fleeing in droves and the tax base is drying up and shrinking revenues are hurting the bloated socialistic nirvana that have been instituted under communist Como’s regime. Why do you think major companies like GE, GM, Carrier, Bethlehem Steel all moved out of this anti business commie land. Not a friendly atmosphere for sure!!

  18. It’s unimaginable that Dems think executing a baby is ok!! God will avenge the least of these innocent babies. I would not want to be aviliated with the evil ways of this party. God bless America and Pres.Trump!

  19. Cuomo will go straight to hell for the execution of innocent babies. Where is their choice?! So immoral! And they think a Wall is immoral?!

  20. NEW YORK STATE HAS PEOPLE LEAVING IN DROVES ESPECIALLY AFTER CUOMO THE A HOLE GOT CAUGHT GIVING COMPANIES THAT GOT JOBS TO DO WORK BIDDED ON AND EVERYTIME CUOMO GAVE THE JOBS TO HIGHER BIDDERS ONLY TO FIND OUT HE,S GETTING KICK BACKS FROM THE COMPANIES HE HIRED AND IT COST US MORE, THEN THIS A HOLE HAS SIGNS MADE FOR ALL ALONG THE THRUWAY HE HAS THEM INSTALLED WITHOUT ASKING THRU WAY TO DO SO , IN TURN THEY MAKE HIM TAKE THEM DOWN, SO ALL THE MONEY WAS WASTED BUILDING INSTALLING THEN PAYING AGAIN TO HAVE THEM TAKEN DOWN AND THROWN AWAY. CUOMO AND DEBLASIOS THESE AS_HOLES HAVE TO GO NYS.

  21. SILENT AMERICANS WILL RE-ELECT DONALD TRUMP AND WILL GIVE HIM BOTH HOUSES. WE THE PEOPLE ARE TIRED OF THE CROOKS, DOPE HEADS AND SELF INTRESTED PEOPLE IN WASHINGTON. GET OUT AN VOTE THEM OUT NEXT ELECTION. START NOW.

    MR. PRESIDENT, PLEASE CLOSE THE BORDER ANY WAY YOU HAVE TO, TROOPS WALLS, ETC. AND PLEASE SIGN AN EXECUTATIVE ORDER FOR MANAITORY DRUG TESTING FOR ALL POLITICIANS AND THEIR EMPLOYEES, WE HAVE THIS ALREADY IN THE WORK PLACE AND WASHING CONTROLS MORE LIVES THAN ANY WORK PLACE AND SHOULD BE DRUG FREE.

  22. If we can abort the children right before or afterward, they are born, can we abort them when they become pains at 2 or 15 or older?
    How about aborting the murderers, pedophiles and prisoners who are in prison for more that their statistical lifetimes? Can Marvin Gay’s daddy come out now after killing his son? After all, Marvin’s music was causing him pain and discomfort. Or is that only for mothers who may be experiencing early postpartum depression?
    Maybe Cuomo can physically stop anybody that is rich from moving out of NY like the other socialists and communists managed to do in the past? Or kill them as a warning to others contemplating the same?
    Welcome to the slippery slopes folks!

  23. U governor are to blame for the mass exodus of companies and the 1 percent of those taxed out of offering jobs and prosperity to your citizens u could start by cutting out about half the government workers they are non essential workers stop your attack on our constitutional rights and reverse that horrendous abortion bill

  24. Ironic that his father eliminated capital punishment on muderers, cop killers all who were found guilty
    This pos wants to celebrate killing innocent babies
    How sad

  25. CUOMO HAS DUG HIS OWN PROBLEMS. HE IS NO LONGER A LEADER OF A GREAT STATE~. He has with his DEM buddies. A great deal of unnecessary projects that cost millions, His gifts to the lobbyists. He has for his terms of office ridden on his dad’s coat-tails. People are leaving in huge numbers, taxes are sky high taxes dfriving SENIOR CITIZENS>. Many useful handouts, the greatest city in America once is now filled with people with mantal health problems, druggies and illegals.Feces on the streets with urine and massive amounts of garbage.DeBLASIO has turned thios wonderful city into another dump. He couldn’t even go to a 9/11 program as he was at his gym! SAYS ALOT ABOUT HIS CHARACTER. HE IS THE LAXIEST MAN alive!

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