Any reasoned examination of the handling of this economic downturn by our government would have to lead to some disturbing questions. One of the first that pops to mind is, "Are they doing this on purpose?" That was the thought I had today as I sat in traffic here in NYC and heard on the radio about Governor Patterson's let's-tax-everything-that-moves-and-see-what-happens plan.
Almost since the beginning of governments they have over-obligated themselves to their citizens. Generally speaking, leaders promise things that they can't deliver. Why do they do this? Because in times of crisis few want to be a leader. It's easier to buy time and prevent the riots today. Let the next generation pay for it. So it was in FDR's day and so it is today.
So today Governor Patterson did his part. He raised and created 88 separate taxes and fees on things ranging from music downloads to soda pop and he expects this will cover the anticipated budget shortfall next year. That's always been the play in New York City. Raise taxes to pay the bills.
What do you do when you can't tax the rich? Tax the regular people. Despite the fact the the Governor's "Kevorkian Plan" is clearly a disaster looking to happen, it appears that the taxes are going through with nary a word from anyone in NY.
Over the years many businesses have left New York for that reason. Doubtless many more will. But New York City always had a revenue ace up its sleeve. Wall Street. The problem is that Wall Street all moved to Washington.
I know this isn't some grand conspiracy to bankrupt our nation. But if there were, would our leaders act much differently than they do? Could they be any more clueless? I think it's going to be very interesting to see what happens over the next couple of years in New York.
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