The Dear Leader of the People's Republic of New York has just unveiled a new budget with 88 new taxes, including an 18% obesity tax on sugared soda. In addition, he proposes lay offs and cuts in services. This is one instance where I am glad I do not live there anymore. When politicians propose new spending increases for pet projects and social programs, they never take into consideration of a what if a bad economy comes along. Patterson, the new governor sfacime of New York, the new El Supremo has a responsibility to keep state finances in line, but obviously, he does not have the acumen or the balls to cut taxes and services. As usual, New Yorkers lose. I wonder if the blind man can see the effects of his folly. Then again, he did inherit a lot this mess, but he's taking the wrong tack.
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2 comments:
What a dumb tax, an obesity tax on sugared soda!? Aren't rising health care costs already enough of an incentive, not to mention one that makes economic sense?
And what will happen is that they will base spending on the income of such taxes and as people buy less of these items because of the tax, the government will raise the tax because they are "losing" money. It's happening with the cigarette tax where I live now. Socialists are very ignorant when it comes to the economy.
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