May 19, 2009

Behold The Glories Of Excessive Taxation, New York State Edition

Apparently, the guy who founded Paychex and owns the NHL's Buffalo Sabres has had it with the tax structure in New York State. So, what's he going to do?

Move his tax registration to Florida, that's what.

Here is the best part, in my opinion:

Golisano said this year's state budget — which increased income taxes on upper wage earners from 6.85 percent to 8.97 percent — was the final straw. His moving to Florida will save him $5 million in state income taxes. The billionaire founder of Paychex, a payroll processing company, has already registered to vote and gotten his driver's license in Florida, and signed the homestead exemption paperwork that will cap his annual property tax increases to 3 percent a year there.

"I'm sorry Mr. Golisano feels that he has to change his residence at this time," Gov. David Paterson said today. "I understand the people moving out of this state is one of the reasons we don't want to raise personal income taxes as we did."

Paterson warned legislative leaders that raising the income tax would drive people out, but he bowed to pressure from Democratic leaders in the two houses to implement the tax, which will raise $4 billion a year.

Paterson said he was successful in changing the Legislature's plan to keep the taxes higher for three years, instead of the proposed five years. "So, I'm hoping when it sunsets in three years that Mr. Golisano will come back," he said.

"I'm sorry, that kind of statement doesn't render much confidence in me that it's going to change. They get used to a level of spending and they just can't back off from it," Golisano said of the governor and lawmakers.

Golisano has spent about $100 million in his three gubernatorial runs on the Independence Party line and last year's effort to bring change to Albany by supporting a Democratic takeover of the state Senate. While the Democrats do control the Senate now, Golisano said it has been a failure so far because no one stood up in the Democratic conference to block a budget that he said harms taxpayers during one of the nation's worst recessions.

I recall when Rush Limbaugh said he was moving out, Jon Stewart told him to "get the fuck out of here". Will the Satirical Sentry of Liberalism attack Golisano because he supported Democrats? I'll fit into my High School graduation tusedo before that happens.

 

Posted by: eddiebear at 09:51 AM | Comments (9) | Add Comment
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