FINCH: TAX FREEDOM DAY A SIGN OF BURDEN, NOT LIBERTY

Posted by on May 11, 2016

FOR IMMEDIATE RELEASE: May 11, 2016

An annual report released by the Tax Foundation reinforces the central tenet of Assemblyman Gary D. Finch’s (R,C,I-Springport) economic agenda- that job growth and rising wages will remain elusive until we totally re-think our tax structure.

The Tax Foundation designates a “Tax Freedom Day” for each state. It marks the day when residents and businesses have earned enough money to pay their state and federal tax levies for the year. Only residents in Connecticut and New Jersey will work longer to pay their taxes.

New York’s Tax Freedom day is today, May 11. The nation’s tax freedom day was April 24.

“If policymakers are still wondering why talented young professionals, enterprising small business owners and retirees are fleeing our state, this report can help explain it to them,” said Finch. “For years, our conference has been promoting pro-growth policies, and they all start with easing the tax burden on our families, farmers and small businesses.”

Finch said that our late Tax Freedom Day is just another sign that the administration fundamentally misunderstands economic development.

“When your idea of economic development is taxing folks and then running ads to convince them that the economy is growing, you don’t get anywhere. When your idea of economic development is taxing folks and then giving the money to big businesses who donated to your campaign, you don’t get anywhere,” said Finch. “If we take away the barriers to investment and improve our business climate, we won’t need contrived economic development competitions. It all starts with cutting taxes, and that is what we should remember today.”

The Tax Foundation is a nonpartisan think tank located in Washington, D.C.

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