By: Kim Schjang
On March 7th, Senator Charles “Chuck” Schumer unveiled a $1 trillion infrastructure bill guaranteed to increase the burden on New York State taxpayers. The western region of our state is a large trade zone, with the St. Lawrence Seaway providing excellent access for exporters. Rochester, in particular, is a large hub for optics and high tech manufacturing. But will they remain so, if businesses face more taxes?
Business mogul and Tesla CEO Elon Musk supported amending of the Force Majeure clause: a contract provision that relieves the parties from performing their contractual obligations when certain circumstances beyond their control arise. That clause was recently changed to include federal, state or municipal policies that may “materially and adversely” affect the company’s business. Which means if SolarCity Corporation, a subsidiary of Tesla, Inc., feel some strain from a business arrangement, they could just walk away from Buffalo and find a lower tax state.
The great burden of New York taxes falls back on the residents of our state, not companies like SolarCity that can walk away unscathed. The upwards of 15,000 employees at SolarCity do not get the same opportunity to walk away from the contract. They will not only be unemployed, but will still have to pay the higher taxes on products they will not be able to afford.
The money for Schumer’s bill will be raised through new or higher taxes on New Yorkers, who do not have an opt out clause. Governor Andrew Cuomo’s administration agreed to the cronyism of the Force Majeure clause, ignoring the negative implications for the state. Cuomo has failed to foster a business friendly environment, causing an exodus of people and revenue from the state, and decimating the economies of Buffalo, Rochester, Syracuse and Albany. Without loosening the grip of crony capitalism, like the Force Majeure, businesses will continue to crumble or be driven out of state. With the 2018 election fast approaching, the citizens of New York must look for new leadership.
Cuomo’s closest competition, Libertarian candidate Larry Sharpe, is prepared to end crony capitalism and seek to remove the barriers that the Cuomo administration, and its predecessors, have put in place that cause small businesses to close up shop and citizens to move out. As governor and Marketer-in-Chief, Sharpe’s economic plan will reign in the recent tax growth trend, helping New Yorkers to keep more of their money.
“Instead of focusing on spending the money of New Yorkers, we need to give that money back to bring the economy back to life,” says Sharpe, an entrepreneur and management consultant. “Not with tax gimmicks and complexity, but a simpler and lighter government burden so New Yorkers can rebuild New York.”
Depending on the same tactics at the expense of N.Y.’s citizens, in a state where the taxes are some of the highest in the country, has not proven to fix infrastructure in the past. But the Cuomo administration intends to roll out the same failed playbook. It’s time to look for a different way, a way forward.
Let’s elect someone seeking to lift the heavy tax burden off the backs of New Yorkers, and place the future of our state in our hands. Let’s make a change in November.
For more information on how Larry Sharpe will create a new New York, visit www.larrysharpe.com.
