| (x-posted at Act Now)
I have mixed feelings about Governor Cuomo. One one hand, after the Spitzer/Paterson disaster, he has gone a long way towards restoring the credibility of the Governor as an institution. He also forced Gay Marriage through the legislature, which was no small feat. And his approval ratings remain sky-high, which bodes well for Democrats trying to recapture the Senate chamber in next year's elections.
On the other hand, his fiscal and economic policies sometimes leave me wondering what exactly he is trying to accomplish. Don't get me wrong, there is a lot of government spending in New York that is wasteful and unjustified. A recent audit found astonishing levels of wasted funds. Please, cut that waste.
And in the same vein, I can't understand what Cuomo is thinking regarding his opposition to renewing the millionaires' tax. Keeping the tax is incredibly popular, so much so that even a Republican Senator supports it. Furthermore, keeping the tax would add $2.8 billion to the state's treasury next year. To put that in perspective, the budget deficit next year is predicted to be $2.4 billion. That means just by keeping the tax and doing nothing else, the state would run a $400 million surplus next year. There are a lot of needs for that money, like putting a vital rail extension on the Tappan Zee Bridge, plans for which have recently been cancelled in an extreme case of shortsightedness.
Cuomo's rationale for scrapping the tax is:
"Because then it wouldn't put any state, and I'm concerned about this state, at a competitive disadvantage," Cuomo said.
Cuomo says extending the tax only in New York would hurt business and cause the rich to flee the state.
Why is Cuomo speaking in the future tense about the wealthy fleeing New York? The tax already exists. The wealthy have not fled New York. Cuomo, who has always tried to paint himself as a nonpartisan pragmatist is doing exactly what true pragmatists don't do: they don't make up facts to serve political ends. It seems that Cuomo wants to be able to say in a 2016 presidential race that he never raised taxes as Governor. Well, I have a better suggestion for him: having a budget surplus would help more.
Bill Clinton raised taxes but will always have the legacy of a fiscal hawk because he created surpluses. So I'm not even asking Governor Cuomo to be a liberal. Just be Bill Clinton. |
