New Yorks higher taxes

A perfect example of how to take down business.

New York legislators, not satisfied with having the second highest tax burden in the nation, are pondering what some call "the biggest tax increase in the history" of the state, in order to force businesses to provide employee health care.

The Syracuse Post-Standard reports that legislators are considering the potential $ 8.4 billion tax increase as part of the "Fair Share for Health Care" bill:

The bill would levy an additional tax on companies with more than 100 employees if they fail to spend at least $3 per hour on health insurance for each worker.

According to the article, the measure is being pushed the state's left-wing "Working Families Party" (WFP). That third party, the article notes, admits the bill would carry a high price tag, but claims that "large businesses" can carry the expense:

The WFP acknowledges "Fair Share" would cost at least $2 billion - by adding $4 billion to businesses' costs and cutting taxpayer health care expenses by $2 billion.

"Someone is going to have to pay," party policy director Josh Mason said. "We think it makes sense, both practically and morally, for that someone to be those large businesses that are currently spending very little on health benefits."

However, the state's small business lobby claims the bill would cost employers $8.4 billion, the article notes.

That approach could have dire consequences for businesses, said Deb Warner, director of government affairs for the Greater Syracuse Chamber of Commerce: "Some say they'll have to lay people off; some say they'll move out of state."

Despite the concerns that the measure will hurt the state economy, the paper reports that many lawmakers, including some republicans, are supporting the measure, in order to gain support from the labor-backed WFP in the November election.

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