It was 1973, and I remember telling my father-in-law that we had just bought a home in Great Neck for the “astronomical” price of $64,000 dollars. If that alone wasn’t bad enough , we also had to pay $4,700 dollars in real estate taxes!
After CPR brought him back, he just kept “mumbling,” over and over again, that “he never raised his daughters to be so irresponsible and it was a forgone conclusion that we would end up in the poor house.”
Even though he never owned a home of his own, he knew that his daughter and I, both born in Brooklyn and raised in Forest Hills, had truly fulfilled the American dream. Even though I was down to my last few dollars in the bank, I was blessed with a fabulous, supportive wife, two terrific sons, a great profession, an incredible work ethic and now, we were first-time home owners. And in Great Neck no less! Wow!
For 40 years I have paid the highest taxes “on the planet.” But l now understand why my father-in-law was so worried that the next generation couldn’t possibly afford living on Long Island.
2013 is a turning point for those who still insist that higher taxes never result in businesses leaving our community. However, we watched in disbelief as:
1- Recently, The Air Traffic Control Center and its 1000 high paying jobs considered moving to Pennsylvania. Why? As their Governor said,”come to Pennsylvania. it’s much cheaper living there than on Long Island”.
2- The Nets and the Islanders were leaving Long Island!
3- Donald Trump decided not to complete his huge restaurant project.
4- Our teacher’s union, is suing Governor Cuomo because they feel that municipalities and school boards should be allowed unlimited tax hikes.
5- On January 1st, paychecks on everyone were reduced by 2%, (didn’t Obama say it wouldn’t effect the middle class?), not because we earned less, but because of the new, higher social security withholding taxes.
6- Next year, we must list the name of our healthcare provider on our federal income tax returns or we will pay a new penalty (tax) of several thousand dollars! By the way, this amount will immediately be deducted from any refund that may be due us.
Companies and their associated workers are moving to a more business friendly, lower-taxed area. Long Island’s 14% underemployed rate, makes a move to a more affordable area, look surprisingly inviting.
But, lets see where our workers, businesses and retirees could realistically go? Our mainstream media seems to ignore the fact that NINE states already have NO income tax at all. I thought it was only Florida and Texas. Wow! Nine others? really? And, add Oklahoma, Kansas, North Carolina, and Indiana to the list of those who have substantially lowered their tax rates in a plan to totally eliminate them within the next 2 years. New Mexico has even recently cut their corporate tax-rate in half.
Pay attention all you New York corporations! Arkansas, Louisiana and Nebraska are all planning to do the same. Within the next two years, 15 states will have NO income tax at all. And, as you can imagine, all of them are welcoming every Long Islander with open arms. Now, do you still think there is no other less expensive place to live or work?
Would you like to see for yourself, what people are actually doing now? Ok, here goes!
Economist Art Laffer just analyzed this for The American Legislative Exchange Council. All you skeptics pay attention. This is not a political issue. It’s “Economics 101”. What do people do, who have lost their jobs, or who just cannot afford to live here anymore?
From 2002 to 2012, (before many of the new taxes kicked in) 62% of ALL new jobs in the United States were created in the nine states who have no income taxes at all! Got that? I’ll say it again: 62% of all new jobs, were created in these nine States! WOW!! But listen to this one! These 9 states have only 20% of the entire population! Don’t tell me that no one would ever move to Nebraska. Want to bet? Nothing like making a living and supporting your family to make you change your mind.
Please, listen all you Long Islander’s. Balance our budgets, not by our raising taxes again but by living within our means.
Or, do you want more and more of our children and grandchildren living and working in Dallas?