Why Do New Yorkers Vote Against Their Own Best Interests?
Are we all rich enough to continue our noblesse oblige attitude towards the rest of the country? After all, for decades we’ve sent billions upon billions of our tax dollars to Washington and received only relative fractions in return. And yet, we remain solidly Democrat even when the policies of that party tend to undermine our economic growth.
The consequences of the Obama administrations current tax reform proposal will be particularly detrimental to New York. We already pay about the highest state and local taxes in the nation, and our cost of living is also comparatively off the charts, especially when it comes to housing; with proposed limits on deductibility of state and local taxes as well as mortgages, middle class New Yorkers are bound to suffer. While we boast some of the highest earners in the nation, we also take pride in their commitment to charitable endeavors; moreover, our local nonprofit sector is comparatively large and employs and supports millions of people. If deductions for charitable contributions are likewise limited, the ripple effect could have adverse consequences not only at the national level, but for poor and working-class New Yorkers who rely on social services.
It seems to me that there ought to be some middle ground. Perhaps creating a progressive system of deductibility based not only on individual income, but also on calculations that take into consideration local cost of living and median (not per capita) income.
New York needs to take a stand for once and demand that Washington stop biting the hand that feeds it.