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We already know New York has been losing more people than it has been gaining, and we know that New York is on a never-ending spending spree with our money, but now we know that New York has been steadily losing not just people, but specifically taxpayers, since 2015.
The stunning report, recently released by our current state comptroller, very clearly shows New York has been suffering a net loss of taxpayers since 2015. As the Comptroller points out in his report, 'personal income taxes are New York's largest tax revenue source, accounting for more than one out of two tax dollars collected by the state.' Though New York suffered a net loss across all income brackets, it is no surprise that the wealthiest New Yorkers said "goodbye" to the Empire State at the highest rate.
We don't need these statistics to tell us what we already know: New York is the worst state in the nation for new businesses and business growth. That simple fact means there are fewer quality jobs for us, less economic growth and more taxes. New York extracts our hard-earned money with taxes on our insurance premiums, energy bills, and contributes to our high property taxes.
Take New York's Medicaid boondoggle as an example. Approximately $9 billion dollars come from our wallets, through county government, and right into state coffers (more than all other counties in the United States combined). In fact, according to New York Focus, New York is one of only three states that requires its counties to pay for those very generous safety-net benefits it mandates by state law. Which is why it was ironic that the State Legislature increased its budget by $ 9 Billion from its initial proposed budget to its approved budget, while none of that money provided real relief to New York State taxpayers.
New York has some of the most generous welfare benefits compared with other states, and even some other developed countries. Certainly, compassionate New Yorkers want to provide a hand-up to our less fortunate brethren, but is New York State government effectively doing so? Are our leaders good stewards of the taxes we give them? Are they trying to stretch every dollar so as not to make it harder for us to live here?
Year after year, we are asked to contribute more. New York City Democrats that support socialism or even communism keep pushing for more government programs, with catchy slogans like "Tax-the-Rich!" and "Medicaid-for-All!" Shouldn't we stop and ask the most important question: Who is going to pay for it when the rich are gone? Because, according to the Comptroller we have had a net loss of wealthy taxpayers since 2015!
Certainly New York has many advantages: abundant natural resources, excellent agriculture, historic communities, a skilled workforce, and beautiful regions, like Chautauqua County. Many of us swoon about how wonderful it is to raise a family in Chautauqua County. If we want to keep our families here and make New York a better place, then we need to find a way to cut state spending while also lowering health care taxes, energy taxes, and property taxes that New York uses for its massive spending programs. We should not be bailing out New York City or giving billions of dollars to migrants to live, shop, and go to school in New York. We definitely do not need to subsidize Hollywood, Saturday Night Live or Broadway. It should not even be possible to send Medicaid premium payments to people that do not live in New York State (though New York sent $1.2 Billion already). Obviously, we do not need to have a larger budget than Florida or Texas.
New York state government can make it easier for us to live here by lowering our taxes and being good stewards of our hard-earned money. It is a message I will continue to fight for in Albany. Let's make New York a place where the next generation wants to live here and build upon our excellent communities.
Assemblyman Andrew Molitor represents the 150th Assembly District, encompassing all of Chautauqua County. For more information on Assemblyman Molitor, please follow him on Facebook.