Business and real estate executives intend to raise $10 million in the coming weeks in support of Governor-elect Andrew M. Cuomo’s looming showdown with government employees’ unions over wages and pensions. ...Here we have it: the people and entities responsible for the financial crisis that has driven so many state governments and our federal government into fiscal insolvency, and caused massive hardship throughout this country, are found within the New York financial sector. As an edifice, the financial sector of New York is the single most culpable agent in the entire world for our recent downturn. No other agent in the crisis comes close to that level of blame. The stock transfer tax proposal-- which asks for a tax that is half what it once was-- could net the state and city $3.5 billion dollars. So who is asked to pay? Of course: union members.
“Let’s put the stock transfer tax on the table,” [Ed Ott] added, referring to proposals to revive a state tax on stock sales, which Wall Street vehemently opposes.
We know where Andrew Cuomo stands, and shame on him. Will the deficit hawks in the blogosphere and media act seriously and support the stock transfer tax? Let's see.