Note: Before I begin today's article, I want to apologize for missing yesterday's deadline— unfortunately I was having Internet connection problems for some reason. Hey, these things happen. Now on to today's piece...
With high taxes, high unemployment and a looming deficit at just over $1.3 Billion dollars, New York State isn't exactly in the best of shape. Everywhere you look, the state is trying to impose new fines, regulations and laws to bring in more cash— they even want to start taxing satellite TV subscribers.
Yep, Governor Cuomo has no problem sticking it to not only the 1%, but also the middle-class. However, there is one special group of one percenters that Cuomo feels deserves a big tax break— Hollywood.
Cuomo has decided to give a half-billion dollar tax break to Hollywood to film here in the Big Apple and the Empire State— of course that means the rest of us have to make up the difference— But why should I be so selfish? I mean that is the left's argument. Right?
In a recent address, Governor Cuomo recently bragged about bringing the production of Amazing Spider-Man 2 here to New York to film their movie by giving them a 30% tax credit— actually anyone who wants to film in NY will get the same tax credit— but not any of the people or businesses that live here— no, they can't give us a break.
Cuomo cites that Amazing Spider-Man 2 will create 3,500 jobs in the state— so who cares if they are temporary, right? The Governor also cites that this will be good for the local economy and businesses, because these workers will spend money on food, lodging, etc. Yet he doesn't apply the same logic to lowering the taxes for all New York state business owners and residents. No, for them we need to raise taxes, overspend, and raise taxes again, continuing the cycle until the state either goes broke or the people do— which ever comes first.
Should tax payer money go to subsidize one of the wealthiest film franchises? Does Spider-Man need a handout? Maybe the Governor would be better suited to appeasing the majority who actually work and live in New York state, rather than giving hand-outs to multi-billion dollar corporations, because they like them (and contribute a lot of money to his campaign)— After all if it's beneficial for one, it's beneficial for all.
The fact is, lower tax rates will actually increase revenue to the State government, because it puts more money in the hands of the job creators and the home owners, who in turn hire more people, grow their businesses and spend more money on their families and their homes. It's then up to our elected officials to be responsible and not spend more than they take in— like that's ever going to happen, unless we New Yorkers wake up and demand that our elected officials become responsible.
Maybe Cuomo and our other elected officials here in New York and in Washington D.C. can learn a little something from Spider-Man— With great power come great responsibility. Maybe they'll learn that lesson, when we demand it of them. One can hope.