Opinion

The making of an NYC tax hike

Everyone knows Mayor de Blasio loves to spend money, but where will the city get the funds to pay for it all — unless he’s planing a tax hike?

Higher taxes down the road are a distinct possibility, given de Blasio’s fiscal record so far. Because while we may have enough cash now, the city might soon fall short.

Start with one of his most irresponsible ideas: handing public cash to private school-bus companies so they can raise salaries for unionized workers. Thursday, the equally irresponsible City Council passed a bill to pave the way for this giveaway.

Some have questioned the legality of the bill. They’ve also noted that the city weathered a painful strike in order to push bus costs down and save taxpayers money. But the real question is, how will the city pay for sweetheart deals like this?

Consider, too, a recent analysis by Crain’s New York. It shows the mayor growing the city headcount by about 1,000 (even though Gotham already has about four times as many employees per capita as the US government).

Crain’s says de Blasio will fund these hires with newfound tax revenue. But what if the economy stalls and revenue runs dry? Does he think the then-mayor will trim staff? Not likely.

De Blasio also granted billions in back raises to city employees, partly by pushing their cost to future budgets and partly in the hope of reining in employee health-care. Again, what if his hope doesn’t pan out or if future budgets are strained?

Meanwhile, future-year budgets are already billions short. If things don’t go perfectly, we’re in trouble. What can save us? That’s right: a tax hike — like the one de Blasio sought but failed to get this year.

This could be the mayor’s plan: bloat spending, create a budget “crisis” and then claim the only way out is to raise taxes. (Think of the kid who kills his parents, then begs forgiveness because he’s an orphan.)

A hike in levies is the last thing the city needs, particularly if it hopes to keep the economy strong. Here’s a better idea: Spend less. Tax less. Crisis averted.