Written by Michael Moran on November 13, 2009 – 6:34 am
Loews Corp. CEO James Tisch writes in a New York Post op-ed that state legislators should learn from the most recent election that New York voters are fed up with high taxes.
He writes: “While federal taxes are non-negotiable, Americans have a choice when it comes to state taxes. Over the years, many have voted with their feet by moving out of state to avoid our sky-high state and city taxes. A compelling Manhattan Institute study recently documented this trend, showing that those moving out of Manhattan and NYC had much higher incomes than those moving in.
If the study isn’t enough to influence our elected leaders, last Tuesday’s elections should be. I’m thinking especially of Westchester and Nassau counties, where voters — a k a taxpayers — finally stood up and said that they’d had enough of the high taxes.
Over the years, both counties have funded their government and school-district operations with ever-higher property taxes. Last week, the voters said “no” to their county executives and their taxes. Westchester’s Andy Spano is out; Nassau’s Tom Suozzi is hanging on by a thread as he awaits the count of absentee ballots, which could end his once-promising political career.
This is a tectonic shift on the part of voters.”