The assault on the working class packaged as “fiscal responsibility” by the likes of Scott Walker has gone viral. Since Wisconsin, this tactic – force hard working Americans to accept the notion of “austerity”, while giving corporations and millionaires tax breaks – has reared its ugly head in Ohio, Indiana, and Florida. This week, the virus has found a new host – New York.
Over the weekend, New York Governor Andrew Cuomo and GOP Senate leadership agreed on a plan to slash the State Budget by billions of dollars – including hundreds of millions in cuts to public school funding and to State and City universities, millions more in cuts to homeless services and senior centers. In addition, the State will allow the Millionaires’ Tax to expire, and will not strengthen laws protecting rent regulation for residents of New York City. All of this is being justified by lawmakers as necessary measures to close the State’s deficit. So let’s look at the numbers:
Total money being cut from the budget? About $3 billion.
Total tax revenue NY will be losing by letting the millionaire’s tax expire? $4.6 billion.
Much like in Wisconsin, New Yorkers are being told that it’s our responsibility to make sacrifices in these harsh economic times. This budget will force that issue – thousands of teachers could be laid off, tuition hikes loom for students at public universities, medical services for groups that need it the most – like senior citizens, the homeless, and those with HIV/AIDS, could become very scarce. But the wealthiest 3% of New Yorkers are being told, “You deserve a break. Thanks for all that you do!” So in essence, many of the Wall Street execs who played a major part in triggering the worst economic crisis since the Great Depression will be rewarded, while the families hardest hit by this crisis are being punished.
And like in Wisconsin, New Yorkers will not take this sitting down. A coalition called Strong Economy for All is bringing together education groups, labor unions, tenants’ rights organizations, homeless advocates, and senior citizens to demand that Cuomo scraps this plan. This Wednesday, thousands of New Yorkers will join the coalition from throughout the state to tell lawmakers in Albany that their job needs to be fighting for good jobs, decent wages, a quality education, and healthcare for all New Yorkers. They’ve protected Wall Street long enough. Governor – tax the rich. They got us into this mess, they need to do their fair share to get us out of it. Don’t put this on the backs of the children, seniors, homeless, tenants, and teachers of New York. We’ve been shouldering the burden for quite some time.
In New York, as in Wisconsin (and Ohio, and Indiana) the buzz word among the pro-Wall Street side has been “austerity”. Austerity for who? New York is one of the wealthiest states in one of the richest countries on the planet. How can millionaires and elected officials talk to us about austerity while keeping a straight face? Corporations like JP Morgan Chase pay only 11% of the State income taxes to which they’re obligated. And those of us who make New York run on a daily basis are told we have to accept austerity? No, we will not accept that. We have no tax loopholes, we received no bailouts. Our State electeds need to preach austerity to the Wall Street side, and protect the services and programs on which working families rely for stability.
We’re asking all New Yorkers to get their voices heard. We know you want to – roughly 80% of New Yorkers support the millionaire’s tax. You deserve better. To sign a petition to Governor Cuomo, and to RSVP to our rally this Wednesday, March 30th, click here (Go to a college in New York State? Click here to find out what student groups are doing on your campus).
For more info on the campaign, watch our action at the Capitol last week.
"The world is a rigged game"
Matt Taibbi at Rolling Stone: “Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.”
On winning and values
So, right-wingers, you want a society where families are stable, where everybody looks like you and shares your Christian faith, and where the government pretty much stays out of your business? It’s not in some Randian fantasy, it’s right here in the USA.
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