It was 1973 and I remember telling my father-in-law that we had just bought a home in Great Neck for the “astronomical” price of $64,000 dollars.
If that alone wasn’t so bad, we would also be paying $4,700 dollars in real estate taxes. After CPR revived him, he just kept mumbling over and over again, that “he never raised his daughters to be so irresponsible and it was a forgone conclusion that we would both end up in the poor house.”
He never did own a home of his own, but I’m sure that he knew that his daughter and I, both born in Brooklyn and raised in Queens, had truly fulfilled the American dream. Even though I was down to my last few bucks in the bank, I was blessed with a fabulous, supportive wife, two terrific sons, a great profession and an incredible work ethic.
And now, we were first-time home owners. And in Great Neck no less.
For 40 years I have paid the highest taxes on the planet. But l now understand why my father-in-law was so worried that the next generation couldn’t possibly afford living on Long Island.
The year 2013 is a turning point for those who still insist that higher taxes never result in businesses leaving our community. However, we watched in disbelief as:
1- The Air Traffic Control Center and its 1,000 high-paying jobs considered moving to Pennsylvania.
Why? As their governor said,”come to Pennsylvania. it’s much cheaper living there than on Long Island.”
2- The Nets and the Islanders were leaving Long Island for greener pastures.
3- Donald Trump decided not to complete his huge restaurant project altogether because of the “unfriendly” business atmosphere here.
4- Our teacher’s union is suing Gov. Cuomo because they feel that municipalities and school boards should be allowed unlimited tax hikes.
5- On Jan. 1, pay checks for everyone, were reduced by 2 percent, not because we earned less, but because of the new, higher social security withholding taxes.
6- Next year we must list the name of our health-care provider on our federal income tax returns or we will pay a new hefty penalty of several thousand dollars. By the way, this amount will immediately be deducted from our refund or we will receive an additional bill for this tax from our friends at the IRS.
A move to a more affordable, lower-taxed, business-friendly area is looking more and more inviting, especially to our 8 percent unemployed and to our 14 percent under-employed. Realistically, where could our workers, businesses and retirees go to find a less expensive place to live and work?
Our mainstream media seems to ignore the fact that nine states already have no income tax at all. I thought it was only Florida and Texas. Add Oklahoma, Kansas, North Carolina, and Indiana to the list of those who have recently substantially lowered their tax rates in a plan to totally eliminate them within the next two years.
New Mexico has even cut their own corporate tax-rate in half. Pay attention all you New York corporations. Arkansas, Louisiana and Nebraska are all planning to do the same thing. Within the next two years, 15 states will have no income tax at all. And,as you can imagine, all of them are welcoming every Long Islander with open arms. Would you like to see for yourself, where many people are actually moving?
Economist Art Laffer just analyzed this for the American Legislative Exchange Council. From 2002 to 2012, before many of the new taxes even kicked in, 62 percent of all new jobs in the United States were created in those nine states who have no income taxes at all. Not New York or California?
But what about Silicon Valley? I’ll say it again: 62 percent of all new jobs, were created in these nine states.
Please, listen all you Long Islander’s. Balance your budgets, not by raising taxes again, but by living and spending within your means.
Or, do you want more and more of our children and grandchildren living and working in Dallas.
Dr. Stephen Morris
North Hills
