How the NYC loses big under Obama

First off will any New York representative become Obama’s official girl or boy?

Probably not. Perhaps Robert F. Kennedy Jr. will go to be Obama’s official environmental boy.

Second in the balance NYC loses big under Obama:

“E.J. McMahon, a senior fellow at the conservative Manhattan Institute,

“The income redistribution would bleed off $3 billion to other states,”

“In 2007, New York sent $86.9 billion more to federal government than it got back, the largest discrepancy of any state.”

“Democratic officials predict that even if the tax outflow increases under the Obama plan, the local economy will gain because people with lower incomes will spend their tax breaks here. “

Except for the fact that most people will get back $500 or less each year, meaning money that has already been spent.

The rich “are not folks who were putting money back into our economy necessarily,” says Rep. Yvette Clarke, D-Brooklyn.

Mr. McMahon calculates that big earners will react to higher federal rates by exposing less of their income to taxes. That will cost the state $1 billion and the city $285 million in revenue, Mr. McMahon estimates.”

==”What President Obama Means for New York.”

Gee! Wouldn’t it have been nice if millions of Americans had used their brains instead of their d*** to vote?


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