New York Governor Kathy Hochul proposes sending $3 billion in one-time, direct payments to 8.6 million New Yorkers to alleviate inflation costs for working families
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Terrible idea. A short term solution that won't bring prices down. To bring prices down, you increase supply. So use the $3B for that. Encourage competition, reduce regulations. Increase supply of goods & real estate.
It's a bandaid solution that does little to address land use & tax policy. It's housing, Shelter costs remains the main driver of inflation & they'd rather let homeowners dictate housing policy than upzone
No state has the ability to manage inflation of the US dollar, only the federal government can do that, as they control the mint. California's deficit is from COVID pandemic spending to get us through it, and it bore fruit in that California's economy recovered the fastest and boomed.
Proposing a temporary tax reduction on the % the State collects on goods, as the State will be seeing an influx of tax money along with the increased prices, is a better idea. Illinois temporarily eliminated taxes on food items which was much appreciated.
California tried taxing ppl more, anyone that rich has a team of accountants on hand to avoid em. So I'm in favor of it, it just won't work as well as ppl think it will. Taxing land is a more effective measure & saves us money
Correct, which is way IMO calculating municipality costs & dividing it based on taxable land per county would be far more effective than a complicated tax system riddled w/ exemptions & tax cuts.
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