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New Yorkers "Celebrate" Third Latest Cost of Government Day in the Nation
Today, New York “celebrates” the third latest Cost of Government Day in the nation – eighteen days after the national average of August 12. The Cost of Government Day measures the calendar date by which the average American paid off his/her share of spending and regulatory burdens on all levels of government: federal, state and local. New Yorkers work longer than residents of 47 other states, amounting to 242 days out of the year.
For three consecutive years, New York legislators have increased taxes. States tax increases between 2002 and 2011 totaled $51.9 billion - $2,650.30 for each man, woman, and child. New York taxes have increased the fifth most per capita since 2002. These taxes do not even include various municipal tax increases as well. New Yorkers lose 12.1 percent of their income to state and local taxes every year – the second highest rate in the nation. For FY 2011, Governor Patterson and his tax-and-spending crew increased taxes by nearly $1 billion on clothing sales. Simultaneously, Governor Patterson signed on to a FY 2011 budget projected to increase spending by 2.4 percent.
When Governor Andrew Cuomo assumed office in January, he worked with the legislature to create an FY 2012 budget reduced spending by more than 2 percent, the first spending decrease in New York since 1997. New Yorkers are still overtaxed and tax reforms should be enacted that encourage investment and job growth in the state. Governor Cuomo pointed out during his state address that New York taxes are “66 percent higher than the national average.”
New York’s Cost of Government Day has a long road to improvement; until then New York is the “proud” recipient of the bronze medal for most expensive Cost of Government in nation. Congratulations New York!