without tax increases on the wealthy. As you may know, Governor Andy strives to emulate his Daddy, Mario, who took a principled stand against the death penalty. However, Governor Andy's principled stand was dropping the millionaire's tax.
After all, it's well-known how fragile rich people can be. If you were to touch them, they might break. Mayor Bloomberg used to say they'd leave NY if they were taxed. And if they make a million dollars a year, you can't ask them to pay 900 bucks for some tax to educate the children of the riff raff. They need that money for investments. You know, that's when they take this money and try to make more of it.
It's different with people who make $7.25 an hour. They haven't got the money to invest anyway, frittering away their salaries on things like food and shelter. All the money they get just gets spent. Maybe if they were to make $20 an hour we wouldn't have to give them food stamps, but who do you think would have to lay out that twenty bucks? That's right, it would be those fragile rich people who own the businesses. Then there would be less money for them to invest, and they would make even less money. You see? It's a vicious cycle.
So the important thing here is this--rich people simply cannot pay more taxes. The government can go broke, states can be so poor they need to accept bribes from the feds so as to enact programs like Race to the Top, and that will make the rich people even richer. After all, who do you think owns Pearson? Some $7.25 an hour fast-food worker? Think again. Race to the Top will make the rich people even richer, and then they can invest that money, and become even richer.
Because that is the main goal of our society, apparently.
In any case, if Bill de Blasio needn't raise taxes to enact his signature pre-K plan, if Governor Andy's fragile ego won't let de Blasio do that, de Blasio can always tax the fragile millionaires to support other things, like class size reduction.
Conversely, de Blasio could simply demand the three billion dollars Governor Cuomo failed to give NYC for that purpose. And if Governor Andy ponies up, maybe he can save the billionaires he lives to serve from those awful tax hikes.
Elizabeth Warren’s Statement on Question 2
6 hours ago