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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:15 AM
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19. Will Popular Reformer Cuomo’s Plan Tax the 1 Percent? /

Held aloft by the highest approval ratings of any governor in America, Andrew Cuomo scarcely seemed to worry about angering his state’s progressives, who were disappointed by his refusal to extend a state surtax on New York’s millionaires. But in what may come to be regarded as a watershed moment in his tenure, Cuomo now plans a sweeping tax reform that is expected to demand more, not less, from the state’s wealthiest, while reducing the burden on the middle class—in the name of “fundamental fairness.”

Over the weekend, rumors of a shift in Cuomo’s anti-tax position began to circulate, confirmed on Monday morning when his office dispatched a short essay by the governor to newspaper editors around the state arguing that New York’s current tax code is “unfair” to the middle class and inhibits economic growth.

Rather than the expiring surcharges, which Cuomo castigates for raising the taxes of families making $200,000 a year—“hardly millionaires,” as he put it—his proposed new system would add higher brackets at the top end and lower brackets in the middle. Although he didn’t offer details yet, his aims are clear enough:

“First, we need to reform the code in a way that creates jobs and grows our economy. To do that, we need to put more money in New Yorkers’ pockets and inject it back in to the economy. There are also tax credits that can incentivize private-sector job growth.
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  -STOCK MARKET WATCH, Friday, December 9, 2011 Pale Blue Dot  Dec-09-11 06:10 AM   #0 
  - Today's Reports  Pale Blue Dot   Dec-09-11 06:11 AM   #1 
  - U.S. Oct. trade gap narrows 1.6% to $43.5 bln (lowest for 2011)  Roland99   Dec-09-11 07:39 AM   #20 
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     - It's not in my neighborhood. eom.  Hotler   Dec-09-11 12:20 PM   #48 
        - We must live near each other! n/t  hamerfan   Dec-09-11 02:05 PM   #58 
           - Let me buy you a beer. eom.  Hotler   Dec-09-11 02:21 PM   #59 
  - Oil lingers below $98 after disappointing ECB plan  Pale Blue Dot   Dec-09-11 06:11 AM   #2 
  - U.S. Stock-Index Futures Gain After EU Summit  Pale Blue Dot   Dec-09-11 06:13 AM   #3 
  - NPR: 23 European Countries Sign On To Fiscal Pact  DemReadingDU   Dec-09-11 07:09 AM   #17 
  - morning...  xchrom   Dec-09-11 06:14 AM   #4 
  - indeed. . . . .  Tansy_Gold   Dec-09-11 06:31 AM   #10 
  - Friday lunchtime looming here...  Ghost Dog   Dec-09-11 06:41 AM   #14 
     - Seems like 2008 again  DemReadingDU   Dec-09-11 06:56 AM   #16 
     - Morning Marketeers....  AnneD   Dec-09-11 09:00 AM   #35 
        - We are getting the technocrat behavior over here, too.  dixiegrrrrl   Dec-09-11 12:45 PM   #52 
           - My point being...  AnneD   Dec-09-11 01:06 PM   #53 
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  - +1  xchrom   Dec-09-11 07:12 AM   #18 
  - Torygraph's Evans-pritchard is beside himself. EU "reduced to a shell" without UK!  Ghost Dog   Dec-09-11 10:42 AM   #43 
  - Mortgage lending wilted in autumn {uk}  xchrom   Dec-09-11 06:23 AM   #9 
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  - Will Popular Reformer Cuomo’s Plan Tax the 1 Percent?  xchrom   Dec-09-11 07:15 AM   #19 
  - States where the most unemployed could lose benefits  xchrom   Dec-09-11 07:44 AM   #21 
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     - I haven't seen it or heard about it  Demeter   Dec-09-11 08:32 AM   #32 
        - The first one was decent. Haven't seen the sequel.  Fuddnik   Dec-09-11 08:40 AM   #33 
        - Hangover is a hoot. eom.  Hotler   Dec-09-11 12:38 PM   #49 
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  - Is that why the DOW is up?  Demeter   Dec-09-11 10:34 AM   #40 
  - Congress adjurned without extending unemployment and tax holiday  kickysnana   Dec-09-11 12:11 PM   #47 
     - It must be a Death Wish  Demeter   Dec-09-11 01:43 PM   #55 
  - Equity markets not spooked by outcome of EU summit  Ghost Dog   Dec-09-11 11:00 AM   #46 
     - The Pirates Have Called for a Parley  Demeter   Dec-09-11 01:45 PM   #56 
  - k&r n/t  Hotler   Dec-09-11 12:45 PM   #51 
  - Have I Got a Topic For the Weekend!  Demeter   Dec-09-11 01:59 PM   #57 
  - I gots to WAIT??!!????  dixiegrrrrl   Dec-09-11 02:50 PM   #60 
  - I could not more strongly recommend watching this video interview while you wait,  Ghost Dog   Dec-09-11 06:32 PM   #61 
  - Oh darn, is it Friday already? I didn't reply to your question from last weekend yet.  kickysnana   Dec-09-11 06:36 PM   #62 
  - Anyone know which DU3 forum SMW will call home?  nc4bo   Dec-09-11 07:14 PM   #63 
     - SMW Doesn't Even Have a Leader Yet  Demeter   Dec-09-11 09:59 PM   #64 

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