The facts are in. New York is the only state in the union to have more of its residents unemployed this year than last. It even beat California. This is an honor I can do without. This is also expected. According to the Tax Foundation, we have lost since the beginning of the new century 3.4 million high wage earners (minimum $200,000.00 annual income), taking $119 billion in taxable income with them. Those are the people who create jobs and invest in business.
You may say, "we are in a recession caused by President Bush, so what can we do about it?” You would be wrong. Yes, we are in a recession, but New York's confiscatory taxes are the cause. These people did not stop earning their incomes; they are earning them in less taxing states such as Florida, Texas and the Carolinas. If taxes were a product of national policies, the high wage earners could not make their money in any state.
In a related poll, New Yorkers are giving Governor Cuomo the highest approval ratings since past Governor Pataki's right after 9/11. Both ratings have in common public approval that is based on hype, not on fact. Pataki got his hand slapped by asking for $54 billion in federal aid instead of the more reasonable $22 billion we got. Past New York City Mayor Giuliani did the heavy lifting, while Pataki tried pigging out at the federal trough.
