Unemployment in New York is trending downward, but we can do better: ourcurrent unemployment rate of 8.3% is still above the national rate of 7.7%.And despite being the third most-highly populated state in the country, New York has experienced anemic population growth of only 2.1% between 2000 and 2010,compared to the national average of 9.7%.Of the 50 states, New York ranks 24th in health and wellness, 26th in state debt,13th in educational achievement and dead last in tax climate. Our poverty rate isalso above the national average.Businesses and citizens alike are fleeing our borders for states with less punishingtax regimes and more business-friendly climates.
Lower tax rates to promote economic growth
Gov. Cuomo has acknowledged that New York “has no future as th
e tax capital of the
We must strategically cut taxes, especially with a view to encouraging smallbusiness job creators. A reduction of the business tax rate and the elimination of the
corporate tax on manufacturing companies will stimulate job growth. New York’s
comparatively onerous estate tax incentivizes our seniors to spend their goldenyears elsewhere.
Stop punishing investment capital
Most states, as well as the federal government, tax capital gains at a rate lower thanordinary income in order to incentivize investment. Not New York: we are one of aminority of states that treat capital gains as ordinary income. Money earned on