Cuomo bends over new yorkers again
Posted 15 July 2013 - 04:05 PM
Governor Andrew Cuomo's tax-free zones at state universities are just the latest move to create politically favored businesses and insulate their owners from the rigors of market competition.Cuomo and others in both parties who back such laws say they spur entrepreneurs. What they are really doing is creating an enlarged body of business owners who depend on the largesse of the voters and, thus, become political dependents.His new law undermines market economics and promotes corporate socialism, in which profits are privatized and costs are socialized.Had Cuomo proposed this law in, say, 1979, the year his father Mario became governor, it would have been regarded as a major political scandal. By 2008, the enemies of market economics were so triumphant that the George W. Bush administration bailed out Wall Street after willfully blinding itself to massive fraud by mortgage marketers, as did the Obama administration.Cuomo's plan redistributes wealth upwards, showing that he is no Democrat in the traditional sense that Democrats care about working people. Rather, Cuomo is part of the growing cadre of politicians whose success depends on being vetted by Wall Street and who win acceptance because they work to tax the many to benefit the already rich few.These political dependents differ from children, the disabled, the sick, and the elderly who collect benefits from the state. The rich dependents make campaign donations and find jobs when needed for politicians' friends and family – legalized kickbacks that are a bargain compared to the welfare they collect.Nationwide, state and local gifts and subsidies to business cost $70 billion or more annually. That is $900 each year for a family of four.New York taxpayers are being forced to give $1.4 billion to microchip maker GlobalFoundries, owned by the hereditary ruler of Abu Dhabi, Sheikh Khalifa bin Zayed Al Nahyan. Your cost: $71. Alcoa will collect $5.6 billion in state subsidies over 50 years, costing you $284.
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Posted 15 July 2013 - 04:13 PM
It is no secret that government uses the tax code to reward or punish certain behaviors and activities.
Posted 15 July 2013 - 04:21 PM