Kathy Hochul must not be a Beatles fan.
If the embattled governor had ever listened to the Brit pop stars' catalog, she'd know that money can't buy you love. And that's precisely what Hochul is attempting to do with a proposed payout to New Yorkers. Those earning less than $150,000 would receive $300, and those earning between $150,000 and $300,000 per year would net $500.
"You can buy your groceries for a month, or whatever you want to spend it on," Hochul boasted in a press conference.
Newsflash for Kathy Hochul. Taking thousands of dollars out of New Yorkers’ left pocket and then putting $500 in their right pocket isn’t a tax cut, it’s an insult. And it’s precisely why millions of New Yorkers have headed for the exits.
— Mike Lawler (@lawler4ny) December 10, 2024
Doing the same to commuters with her… https://t.co/e8kSIqQ2nn
Her administration is calling the move an "inflation refund". As if $300 to $500 begins to cover the skyrocketing cost of goods under Joe Biden. The sleight of hand trick would use taxpayer funds to give money to those who pay taxes...and those who didn't.
Worse still, Hochul is missing the big picture and sending a financially illiterate message to New Yorkers. Increased government spending is the root cause of inflation...so her proposal worsens the very problem she seeks to address.
‼️Elon Musk.‼️
— (Jason) Stands For Truth (@TrueJMitchell) November 22, 2024
"The only thing that causes inflation is government overspending because the checks never bounce." pic.twitter.com/7R1mJi52G2
Adding insult to injury, the payouts would begin next year, right after congestion pricing begins in Manhattan south of 60th Street. The congestion tax kickoff was suspended for November election optics, but it is now slated to begin on January 5.
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Hochul notoriously reintroduced the congestion tax with a sales pitch, claiming that the new rate, $9 per day, versus the originally proposed $15, was a "40% savings" for NYC drivers.
The governor's fuzzy math is back in the spotlight again in 2025, when some Gothamites will get a check...from taxpayer coffers...to help pay for another tax...that's actually a 40% savings.
A tax cut would make more fiscal sense, but we don't expect the Democrats to get over their allergy to that idea.
