Oh what a tangled web we we weave, when first we practice to deceive ~ Shakespeare
Andrew Cuomo's business friendly with no tax increases puffing
They forgot Ronald Reagan's, "Trust, but verify."
As of January 21, 2011, New York State, one of 30 States, borrowed $3,343,758,375.70 from the federal government for paying Unemployment Insurance. Six States, Maryland, New Hampshire, South Dakota, Tennessee and Texas, have repaid their loans in full. And since Cuomo didn't budget for this in his budget, he must be planning to pass it through to NY businesses. From NY Dept. of Labor, "the numbern average $478 per worker is due from employers." How much more is New York borrowing this year to add to this $478 per worker? Is this NY as business friendly?
Did Cuomo fool his conservative/tea party supporters by having only a property tax cap passed by his request in the NY Senate? Not really, when a County's Medicaid share is to rise 9.4%. Where's the money coming from?
Now a wake up call concerning Medicaid block grants and the Government posts biggest monthly deficit ever.
Cuomo's budget plan calls for $30.2 billion to be given to New York by federal government for Medicaid. New York matches this with $15.1 billion contribution by the State and a $15.1 billion paid by NY Counties paid in property taxes. New York's 2008 Medicaid per person is $8,961 and the average State per person is $4,307. If the federal government were generous and gave Medicaid Block grants at the rate received by the average State, NY would receive 4,307 divided by 8,961 x $30.2 Billion = $14.5 Billion. New York budgets $60.4 billion, so $60.4 minus $14. 5 billion = $44.9 billion additional to be spent out of State money. And if the federal Government were very frugal and used California's per person rate of $2,386, the block grant would be $8.04 billion and $50.36 billion additional would need be spent out of State money.
Any wise businessman would run for the border.
Ian Welsh describes Cuomo and his cronies as "the people who hollowed out the US economy and caused the financial crash don’t pay the price of their evil, but in fact stay in charge of society despite causing a Depression and being bankrupt." Welsh asks, "Andrew Cuomo: stupid or evil?" It doesn't matter, because he won't continue to fool people for much longer.
So the advice for residents is to move out and dump the bonds and Andrew Cuomo and his deceived media calls this "Business Friendly."