{"id":206899,"date":"2021-03-20T02:23:39","date_gmt":"2021-03-19T23:23:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/state-fed-tax-hikes-would-push-more-new-yorkers-to-florida\/"},"modified":"2021-03-20T02:23:39","modified_gmt":"2021-03-19T23:23:39","slug":"state-fed-tax-hikes-would-push-more-new-yorkers-to-florida","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/state-fed-tax-hikes-would-push-more-new-yorkers-to-florida\/","title":{"rendered":"#State, fed tax hikes would push more New Yorkers to Florida"},"content":{"rendered":"

“#State, fed tax hikes would push more New Yorkers to Florida<\/strong>”
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The feds are sending New York enough billions in bailout cash to wipe out its deficits for the next two years \u2014\u00a0but the Legislature still wants needless tax hikes on \u201cthe rich.\u201d President Biden just announced plans to do the same. It threatens a double whammy that will have even more New Yorkers eyeing the exits to Florida \u2014\u00a0taking state and city revenue with them.<\/p>\n

The new \u201crelief\u201d package is sending $100 billion in aid to New York, including $12.6 billion in unrestricted funds to the state government. But Assembly Speaker Carl Heastie and state Senate Majority Leader Andrea Stewart-Cousins each want nearly $7 billion in new and increased income, corporate and wealth taxes to help cover their plans to boost outlays by more than 20 percent in the new budget due April 1.<\/p>\n

They would raise the top income-tax rate from 8.82 to 11.85 percent, the highest since 1979; New York City residents\u2019 top combined rate would be 15.75 percent, the highest in the country. They\u2019d also institute a new capital-gains tax of 1 percent on million-dollar earners, reinstitute a minimum business tax on corporate capital and raise real-estate taxes by 2 percent and the corporate-franchise tax by 3 percent.<\/p>\n

\u201cWe\u2019re asking people who have a lot more to help a little more,\u201d Stewart-Cousins said. For once, \u201casking\u201d isn\u2019t a complete euphemism because it\u2019s easier than ever for people to say \u201cno thanks\u201d by moving away. As Kathryn Wylde of the pro-business nonprofit Partnership for New York City noted, the last such taxing frenzy in the \u201970s saw the city lose \u201cabout 1 million residents and half its Fortune 500 companies.\u201d<\/p>\n

Since the highest-earning 5 percent of filers provide more than 60 percent of state revenue, this is no way to balance the budget.<\/p>\n

Biden\u2019s plans for federal tax hikes won\u2019t help: City residents could see a top combined rate that\u2019s through the roof. He told ABC News<\/a> that \u201canybody making more than $400,000 [later clarified to mean family<\/em> income] will see a small to a significant tax increase.\u201d He\u2019s also looking at raising the corporate tax rate from 21 percent to as high as 28 percent and hiking the capital-gains tax rate. <\/p>\n

Sen. Chuck Schumer this week called JetBlue\u2019s CEO after hearing the company may move its headquarters to Florida from Long Island City. He\u2019d do more good by telling Biden, Heastie and Stewart-Cousins to back off on their tax hikes.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#State, fed tax hikes would push more New Yorkers to Florida” The feds are sending New York enough billions in bailout cash to wipe out its deficits for the next two years \u2014\u00a0but the Legislature still wants needless tax hikes on \u201cthe rich.\u201d President Biden just announced plans to do the same. It threatens a…<\/p>\n","protected":false},"author":1,"featured_media":206900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/shutterstock_cash-money-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[98436,88809,82358,43,991,70786,46483],"class_list":["post-206899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-19-21","tag-andrea-stewart-cousins","tag-carl-heastie","tag-editorial","tag-joe-biden","tag-state-budget","tag-taxes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/206899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=206899"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/206899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/206900"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=206899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=206899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=206899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}