Cuomo's New York Comes In Second To New Jersey For The Most Taxes Per Person

Wanna buy a New York bond? a bridge?

     First, New York State and Cuomo lost out to California for the most "business unfriendly State,"  as The Cuomo Business Friendly Bubble Bursts.   Then New York State and Cuomo lost out to New Jersey by a small margin as the State where residents pay the most in taxes. New York's Taxes paid by residents as percentage of income are 12.1%   "The state [NY] has one of the highest state and local tax collections per capita, an average of $6,884.     According to the Census Bureau, the top ten counties in the U.S. with the highest property taxes as a percentage of home values are all in New York."
 
  New York State and Cuomo come in first with New York Debt per person including local debt at $24,195. For a family of four about $97,000.  Which is the largest debt of any State in the USA.

     "S&P said then there was "at least" a one-in-two chance that it would cut its US rating within the next 90 days, an act that would almost certainly send Washington's cost of borrowing shooting up."  "A downgrade of the US sovereign rating, or a "selective default" rating on its bonds, could also force the downgrade of the ratings of individual states and local governments."

    New York State's budget has at least an unanticipated $2 billion dollar deficit according to State Budget Director.   Unlike Washington D.C. where money can be printed, New York State must borrow.

    How will NYS repay in November the Unemployment Insurance: State Trust Fund Loans of $3,176,873,427.71 ; that's $3.1 billion?

 What happens when New York's bond rate rises?   NY's borrowing costs go up from $5.6 Billion to $18.8 Billion? 

     Which State's bonds will be downgraded first? Bankruptcy will come to look attractive, but Congress must act first.