Are the 99 Percent getting to Cuomo? Governor won't rule out higher taxes on the wealthy

Governor Andrew Cuomo

Governor Andrew Cuomo refused rule out higher taxes on the wealthy when, and if, he's able to overhaul New York's tax code next year.

Cuomo has been steadfast about letting New York's "millionaire's tax" surcharge sunset by year's end, but now he's being coy with the media as they speculate he's rethinking the tax structure, possibly by altering or adding tax brackets as an alternative to the current tax code.

Cuomo appeared on conservative pundit Fred Dicker's radio show on WGDJ in Albany yesterday and would not deny yesterday's Wall Street Journal report that he's contemplating changing New York's tax structure to put a heavier burden of taxes on the state's wealthiest. The Journal says Cuomo is considering higher taxes for the rich, but lower than the current rate for those earning more than $200,000 a year, which is set to expire at month's end.



"What I'm looking at is how to use the tax code to stimulate the creation of private sector jobs," said Cuomo, evading a direct answer. "This is an economic problem, not a budget problem. How do you create jobs?"

Critical of the gridlock in Washington, Cuomo said that he's trying to "come up with a plan that can forge consensus and compromise and can get passed."

The governor was notably angry the current dysfunction in Washington over financial issues and said that's not what he wants for New York when budget talks begin early next year.

"I think what has been happening in Washington has been counterproductive for the country, and counterproductive for this state," Cuomo said. "What happened with the Super Committee, what happened with the debt ceiling, made a bad situation worse."

"If you you're going to start to point fingers, you're going to need two hands," said Cuomo in referring to both Republicans and Democrats in Washington.

Cuomo mentioned how he has to work with a Democratic majority in the Assembly and a Republican majority in the State Senate, which approach the state's economic problems differently.  He said his goal is to find solutions that would appeal to both the Democrats, who are seeking ways to raise more revenue and Republicans, who view spending cuts as a way to manage New York's financial problems.

New York is projected to lose some $4 billion in state revenue when higher taxes on those with incomes of more than $200,000 a year expire. Poll after poll has shown that an overwhelming majority of New Yorkers want the millionaire's tax to stay in place.

Last month, #OccupyWallStreet demonstrators marched from Zuccotti Park to Cuomo’s midtown Manhattan office to protest his opposition to retaining the millionaire’s tax.