In 1995 New York State had an Operating Budget of almost $62 Billion Dollars. New York’s Current Budget for 2018 is over $164 Billion Dollars. That is a 165% Increase in 23 Years for an average of over 7% per year.
In 1995 the New York State Population was 18.52 Million People. New York’s current population is 19.90 Million People.
That means that since 1995, for each person added to the population of New York State the Government has increased the budget by almost $74 Million dollars per person.
In 23 Years the budget has gone down a total of 3 times and each time it went down it was by less than 1%.
It is clear that Government Spending is out of control and it doesn’t appear that there is any effort being made to stop this trend from continuing. This track is unsustainable and will eventually, like a house of cards, collapse under the weight of itself.
Mike’s background as an Accountant and Financial Advisor has shown him that this is not sound Financial Planning and is ultimately a recipe for disaster. He has worked with many Individual Taxpayers and Businesses of all sizes to help guide them through difficult financial times. He believes it is time for New York State to take a good look at the inefficient spending taking place and to create a more efficient streamlined approach to fiscal management.
If our Elected Officials are not going to control run away Government Spending than the only way to balance the books would be through increased Revenue (I.E. Taxes). Increasing Revenue may be a component of a sound Business Model but not when it comes to managing a Government Entity. This is especially true when the Taxpayers are the driving force behind an increase in Government Revenue.
New York State has found a way to Tax just about every aspect of our daily life with miscellaneous Taxes and Fees that most people don’t pay any attention to but can significantly add up over time.
All of these miscellaneous Taxes and Fees contribute to making New York State the most expensive State in the Country. This is not an award that we as residents of New York State should be proud to have.
As a Tax Accountant Mike works with his clients to develop sound Tax Strategies and minimize their Tax Liabilities. He sees and hears the stress that these taxes and the high cost of living have on the hard-working families of Long Island and New York State.
Mike believes that it is the responsibility of our Elected Officials to try to ease Taxpayer burden, not to create more by adding additional taxes. He looks forward to bringing his Financial Background to Albany to work tirelessly in an effort to reduce Taxes and bring Government Spending under control. He will bring a common sense approach to creating a more efficient Government for New York. Through hard work he looks forward to reducing the financial burden on the hard working families that he has helped over the years and looks forward to making New York more affordable so more families can live comfortably in a State that has so much to offer.