"The Blue State Budget Blues" (The Editorial Board, June 2023). My thoughts are not meant to offend anyone, but the article was quite concise on a few topics in reference to the tax burden in "Blue States". As discussed in the article at the peak of the pandemic the Federal Reserve policies inflated asset prices and capital gains by dropping the interest rates nearly to zero percent. The "Blue States already had a progressive tax rate and by lowering the interest rates the revenue stream grew by the reduction of tax liability for municipalities. When inflation introduced itself to the market corporate profits rose and tax revenue increased on the profits. It became a time that consumers were willing to spend more with the reduced tax rates and companies profited from the increased consumer spending. Governments were able to see increased revenue from corporate profits and increased consumer spending. Inflation was on an upward trajectory with the increased dollars being put into the system.

With the increased inflation the Federal Reserve now had to reverse track and increase the borrowing percentage rates. Now in a short period of time, corporate profits are in a decline and consumer spending is lower. The "Blue States" revenue is now lower and New York State seeing a 32.3% reduction over the last 2 months, compared to last year at the same time. The taxes that were raised instead of being fiscally responsible and looking at what could happen were spent on items that should have been cut in the budget. Taxes are now going up for New York as a means to increase revenue for being fiscally irresponsible during a global pandemic. We as citizens should learn to save money and when we have the opportunity to receive more we should put more away. Proverbs 22:7 ESV says, "The rich rules over the poor, and the borrower is the slave of the lender"' The governments were borrowing money at a low-interest rate through bonds and now are facing a time of paying them back with a reduction of tax revenue. Municipalities are at the mercy of the lenders.

I feel that taxes are an obligation that we have to our own community and the government. Taxes should be a means of raising revenue for the necessary items that a government should be responsible for. Governments should not spend tax revenue on activist programs. but remain true to infrastructure , health and, the wealth of our seniors and less fortunate. The rich will continue to find loopholes that benefit their tax liabilities and they should. If the wealthy stop investing in the Country then the tax burden becomes greater.