Bet'cha Governor Cuomo didn't think about this when the opportunity to crash the system presented itself.
From Bloomberg:
N.Y. Tax Revenue Plummeted 68% in April, State Comptroller Says
New York state’s tax revenue plummeted 68.4% in April, as the coronavirus lockdowns and the extension of tax return filings to July 15 took a toll on state coffers.
The Empire State collected $3.7 billion, or $7.9 billion less than the previous April. Personal income-tax revenue fell more than $7 billion from last April, a drop that was primarily due to the delayed tax filing deadline.
“New York is facing economic devastation not seen since the Great Depression,” New York Comptroller Thomas DiNapoli said in a news release. “New York and other hard-hit states need the federal government to step up and provide assistance, or the state will have to take draconian actions to balance its budget.”
And they will be expecting the rest of us US Taxpayers to bail them out. Why don't they do what everyone else does - set a budget and live by it. Maybe a draconian haircut would be a good thing - a teachable moment for them.
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