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Nader: NY Governor Andrew Cuomo Taking Progressives for Granted

Ralph Nader, speaking at BYU's Alternate Comme...

Image via Wikipedia

But there is a more blatant misfocus by Cuomo. It is his fear of Wall Street whose crooks, speculators and self-enrichment pros collapsed the economy, looting or draining savings and pensions in 2008-2009 leading to much unemployment and many closed businesses that, through the loss of tax revenue, expanded the state deficit. He refuses even to speak about holding these spoiled, back-to-business-as-usual financial giants responsible.

On the contrary he is rejecting an extension of the tax surcharge on New Yorkers and residing foreigners who make over $200,000 dollars in income a year, which expires this December. It is so much easier to tax the faceless masses. Already, lower income New Yorkers pay a slightly higher percentage of their income in all taxes imposed than do the wealthy. Regressive!

It gets worse. During his campaign for Governor, Mr. Cuomo refused to even contemplate keeping the $14 billion (some estimate higher amounts) a year that the state collects from a century-old stock transfer tax, but instantly rebates, what is really a sales tax, back to the stock brokers. New York used to keep this tax revenue until the early Eighties, when Wall Street pressure finally prevailed. Green Party candidate for Governor, Howie Hawkins, during a public debate argued that keeping these revenues would eliminate the deficit and prevent the reduction of necessary programs. On that stage, Mr. Cuomo refused to engage. Mum’s the word on Wall Street’s fair share.

via The Indypendent » NY Governor Andrew Cuomo: Taking Progressives for Granted.

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