New York Tax Hike Coming
E.J. McMahon predicts that, based on the irrational combination of a $7 billion loss in revenue and an estimated $1.7 billion increase in spending in Pataki's anticipated budget, New Yorkers are in for a year reminiscent of 1990-91's fiscal disaster, complete with midyear cuts in school aid and tax and fee hikes. Who would have thought that at this point in the race Andrew Cuomo, late of federal economic black-hole HUD, would appear to be the more fiscally responsible gubernatorial candidate? Note, I said appear.