For business people like Don Peebles, it feels like the Statue of Liberty is falling. “The biggest thing about New York is: If you can do it here, you can do it anywhere. That has now got a new meaning because it is made more difficult for people to make it here.”
The New York real estate entrepreneur is raging on Fox News. This budget is the brake on the Big Apple. And he chases his makers away. A turn off for business people and those who pay the most taxes. For them this household is a shock.
“New York no longer welcomes business people and high earners.” Don Peebles, real estate entrepreneur
Tax rates of up to 62 percent
Because in the future they will pay more taxes than anywhere else in the USA. Even with President Biden’s planned increases, top earners in New York will have tax rates of up to 62 percent. Now the state also wants to ask its millionaires to pay more. And support the poor in return.
The New York spring is proclaimed by Governor Andrew Cuomo. With this $ 212 billion budget, Chapter 2 of New York Tough begins.
Cuomo: We’re reinventing New York
The strong New York, which is facing the pandemic, should grow as it builds up. Cuomo calls the action plan the biggest and best.
“We’re not just rebuilding New York. We’re reinventing it.” Andrew Cuomo, Governor
By redistributing it to the shoulders of the rich. With an annual income of one million dollars or more, they should pay more taxes. Further stages are planned. To this end, billions in aid should flow into schools and the health system. The budget provides for financial aid for tenants and for immigrants without documents that would otherwise fall through the rust of bureaucracy.
Internal party dispute between the Democrats
The Democratic majority leader in the New York Senate, Andrea Stewart-Cousins, describes him as the bravest of all budget plans.
“We ask those who have a little more to do a little more. So that we don’t look at the same inequalities year after year, day after day.” Andrea Stewart cousins
The Democrats have long argued with their governor about this point. There was even talk of a transaction tax for the financial market. The head of the New York Stock Exchange, Stacey Cunningham, had even threatened to withdraw the traditional trading market.
“Entry of Social Democracy into New York”
The Republicans are sneering: New York’s Democrats only got away with their left-wing budget because Governor Cuomo is currently so politically troubled, says Senate minority leader Robert Ortt.
“A governor involved in scandals and a government that takes advantage of it to raise the tax on New Yorkers.” Robert Ortt
Critics speak of the arrival of social democracy in the Big Apple. After all, the budget also relies on other tax sources. In New York, for example, sports betting via mobile phone apps should be allowed in the future. The state expects this to generate revenues of $ 500 million.
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