Bloomberg Cautions: ‘You Can’t Tax Your Way Out Of Problems’


bloomberg2New York – Without taking a position on Gov. Cuomo’s plan to raise state income taxes, Mayor Bloomberg cautioned today that “fundamentally you cannot tax your way out of problems” and that growing the economy was the best way to fill government’s coffers.

Bloomberg’s comments were carefully worded, clearly intended to head off any further issues with the governor, who has yet to sign off on the city’s plan to expand yellow cab service to the boroughs outside Manhattan.

But they also weren’t an endorsement of Cuomo’s proposal to revamp the tax code in order to replace some of the revenues that would be lost from the tax surcharge on filers making $200,000 or more that is set to expire at the end of the month.

It took reporters three questions to elicit a substantive response from the mayor on what Cuomo was doing.

“I haven’t seen the governor’s plan. I’ve not talked to him about it. I think you have to look at everything. But fundamentally you cannot tax your ways out of problems,” said Bloomberg.

“You’ve got to get your expenses under control and build the economic base so you have tax revenue. Increases should come from an expanded economy as opposed to tax rates.”

When a reporter noted that Cuomo’s plan reportedly didn’t include pension reform, Bloomberg responded that he hadn’t seen it.

But the mayor added: “The governor last year said it would be his No. 1 priority.”

When the reporter tried to ask a follow-up question, he was interrupted by Stu Loeser, the mayor’s press secretary.

“Have you seen the plan?…So, next question,” said Loeser.

{NY Post/ Newscenter}


  1. What a double talking RASHA! Let’s see: “we can’t tax our way out of our problems”. So let’s fine every citizen instead! Parking tickets, sanitation tickets, permits, building violations, DEP, etc… Let’s try to make life as miserable as possible for the average hard working tax paying New Yorker! I hate Bl$$mberg!

  2. Sorry but records show that this is exactly what you did when you became mayor. You said and you raised taxes across the board. Starting from real estate, water and sewer, parking tickets and what not doubled since you took office. But you did this before when you changed term limit, for you yes but for someone else you said no. Now this is just a repeat of the same bloomberg policies.