The efforts by Barack Obama to force NY Gov. David Paterson not to run for election in 2010 have roiled NY politics, and baffled many who wonder why a President felt the need to get involved in state politics.
The crushing NY State budget gap has forced Paterson to speak some harsh truths, which may not be to the Obama administration’s liking. One of those truths is that taxing the rich is not the answer to economic problems. The same “tax the rich” policies which were the bedrock underneath Obama’s campaign, and are at the heart of Democratic efforts to pay for health care restructuring.
In a recent speech, Paterson noted that a “tax the rich” strategy produced negative results for NY State:
Now, early revenue figures suggest that taxing the wealthy more under this year’s state budget may have driven away richer New Yorkers. That could make the economic comeback for the state even harder.
“You heard the mantra, ‘Tax the rich, tax the rich,”‘ Paterson said Wednesday at a gathering of newspaper editors at an Associated Press event in Syracuse. “We’ve done that. We’ve probably lost jobs and driven people out of the state.”
This sort of talk will get you fired from the Democratic team of Obama sycophants. As Paterson now is finding out. “Tax the rich” doesn’t work, and David Paterson is one of the few Democrats with the guts to say so.
Paterson understands the emptiness of promises to solve budget problems by targeting the rich. Too bad Obama doesn’t understand, and wants to fire the messenger, rather than listen to the message.
Donations tax deductible
to the full extent allowed by law.