New York City, like everyone else, is in dire fiscal straits, again.
The Morons in charge are floating the idea of a commuter tax, again:
NEW YORK (CBS) ― The City Council wants to balance the budget on the backs of commuters with a new tax that's a lot like an old one. They want to make people that work in the city, but live in the suburbs pay.
The state Legislature killed the commuter tax in 1999, but some City Council members think making people who work in the city pay for the services they use is better than making city residents bear the brunt of the city's budget crisis.
City budget director Mark Page seemed exasperated Monday at a City Council hearing where the head of the council finance committee demanded the reinstatement of a commuter tax to balance the budget.
"Clearly that's a tremendous revenue stream that should directly go to the city of New York," Councilman David Weprin said.
Estimates are that a new commuter tax could bring in $715 million next year.
"As New York City's budget director I'm always eager for money we don't have to pay for that we can spend and the commute tax, if we could get it back, fits that," Page said.
Tax the unborn, tourists, the dead, commuters...tax anyone or anything that can't vote you out of office.
This seems to be the extent of our politicians' skill.
This is the very opposite of optimal taxation - which would directly tax usage. In other words, people who use the subway, should pay the full costs of the subway via their fares. People who use the schools should ideally pay for those hoosegows. Now that the statists have created this labryinthine third party system of giveaways, the great illusion has set in on the public mindset - the illusion that since SOMEONE ELSE is paying for it, personal entitlements are free.
Getting back on track...
Why can't we get a budget director who's EAGER to cut expenses - instead of EAGER for more money to *spend*?
NYC is going to be in serious fiscal trouble for the foreseeable future. They've been living off Wall Street tax receipts for ages, BUT many of those firms, the ones still solvent, won't have any taxable earnings for years - due to loss carryforwards.