There is no need to raise tax in New York City. And I have my reasons.
When I ran my campaign, I proposed a tax-free shopping day. A property tax relief for Seniors a manufacturing tax credit to fix tax loopholes in the city and help jack up GDP. Phantom offices are blooming everywhere in the city whilst brick-and-mortar set ups are disappearing at an alarming rate. Nothing wrong with spend-safe and spend tactics.
Budget for the city as at that time is $70b. Now gone up $2b. Rather than spend it all, I plan to review and make unilateral cuts. If possible ask for emergency powers from city legislature so I could opt to charge more for certain services, since I do not plan to ever raise tax.
Fraud and wasteful spending alone is costing the city to to the tune of $3b or more in the first six month. Reorganizing city’s bureaucracy alone will improve this deficiency. But I plan to take drastic actions. Say, levy an equivalent of three to six months pay – on managers, deputies, supervisors and heads of departments if there section is at fault. Meanwhile, let assistant deputies manage for the time being.
I plan to look into the amount given to each of the five boroughs, cut down on certain aids and amount of services provided to local communities. Small businesses could provide the same service and guess what! I could award a certain degree of autonomy to the unions. Let them compete in this area as contractors.
I will also reduce city expenditures on legal proceedings. The whole court system is over due for a total revamp. And cutting the numbers of state-employed attorneys, and refusing to increase state payments to attorneys who took up cases of defendants that are too poor to afford private attorneys is not enough to tackle this problem. I will have to do look into this and actively do a lot more.
Rather than raise taxes, another revenue source that I plan to energize is to jack up the cost for birth certificates, look into the age regulation, mileage and cost of new car purchases, jack up the cost for a driver’s learning permit, firearms permits, professional licenses, billboards advertisement, city gasoline tax by a few cents. Whatever I do here will include a city license and id. for immigrants. Everybody gets documented.
As for Wall Street and corporate bodies, I will instigate and execute specific changes and loopholes closures through manufacturing tax and others types like it. For example, part of my effort to raise money for pre-k will be to block corporations from transferring intellectual property assets to shell companies in city and states with lower corporate tax rates.
I will also prevent banks, corporations and certain insurance corporations from avoiding taxes through paper restructurings. As for online business and direct mail services, I will eliminating tax breaks for them by taxing sales of software downloaded over the internet. This has always gone through the system – untaxed and undocumented.
My calculation is that before the first six months of being in office, I would have generated more than enough to create a pre-k funding. Bond or no bond. Then I can go ahead and back everything up with a kind of stabilization fund as I progress to other projects.
So far so good, I haven’t even touch on education, housing, the police department, fire department, healthcare, medicaid cost, insurance, technology, new industries and a few others.
Now, you can imagine the variety of avenues that could be explored to avoid the punishing task of raising taxes on a few.
Anyway, this is New York City, rainy days are never too far off.