When the New York legislature comes into session next week, Governor Paterson is ready to cut, cut, cut without any tax increases. In fact, the most money being chopped is from where it hurts the middle class and the working poor the most, specifically from education and health care programs. Education is what gives our children a chance and health care is what helps to keep us healthy without having to go completely broke or extremely in debt to get it. Well our city and state's best advocates have gotten together and are telling the Governor there is a better way.
From The PolitickerNY:
ALBANY—A coalition of social service groups attacked David Paterson's latest round of proposed budget cuts, and offered their own three-point plan for closing the enormous deficit.
The coalition—which claims to represent 200 nonprofit and faith-based service-providing groups around the state—said just reducing spending will "devastate" New York's future.
The group's plan first calls for instituting the so-called "millionaire's tax," which would raise taxes on the highest income earner (it's also the object of much spirited debate). Second, they would lobby hard for federal assistance, which Paterson has already done, though it's far from a sure thing. Third, they are asking Paterson to dip into the Tax Stabilization Reserve Fund—a pot of just over $1 billion that is set aside for unplanned expenditures. (Paterson said previously that opening the fund would be "a drop in the bucket" and that the root of the problem lay in excessive spending.)
"For too long, we've allowed the wealthiest New Yorkers to not pay their fair share," said Ron Deutsch, executive director of New Yorkers for Fiscal Fairness, pointing to Paterson's rejection of broad tax increases to generate more revenue.
A drop in the bucket is what Wall Street thinks of a billion dollars, but to the very least amongst us, saving programs that keep kids out of trouble and the disabled is akin to a flood of money. Especially in bad times, people hardly have enough to keep their families together and we need to take care of them first, not those that are worried about selling their pied-a-terre or docking rights at the yacht club. Not only should they be subjected to a millionaire's tax, but it should be the goal of the Democratic majority to pass a more progressive income tax so that everyone pays their fair share in good times and bad.
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