As several other states, New York State is going bankrupt. Tax increases are no longer effective as revenue raisers. They serve only to drive people out of the state. Per E.J. McMahon, director of the Manhattan Institute:
“It’s their failure to stop the growth in spending that is the underlying problem,” he said. “New Yorkers are voting with their feet and heading for the exits.”Sunday, November 15, 2009
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