The NY Post Editorial says it all.

The Wall Street Journal says: "Mr. Cuomo claimed to be different when he ran in 2010, but his resistance didn't even last a year in office. So two states are now taking one more whack at the people who create wealth, in order to redistribute more of it. For how that story ends, look to Europe." More from the Wall Street Journal here.

E. J. McMahon explains it is a tax increase!

From Assembly Republican Leader Brian Kolb: “From what has been reported in the media so far, the bottom line is that taxes are being raised in New York State and we are still not dealing with our state’s serious spending problem. There is still no significant unfunded mandate relief for local governments. We should be protecting taxpayers by capping local Medicaid costs, enacting a state spending cap and doing this through an open, public process where these issues are debated and discussed in the light of day, not through secret deals behind closed doors by three-men-in-a-room. Tax hikes have never been the answer for creating more private sector jobs and long-term prosperity for New Yorkers. That still holds true today.”

From Assemblyman Steve McLauglin: A family making $100,000 will see $400 more per year or $33.33 per month. Less than the cost of a tank of gas. You are being scammed if you believe this is a serious tax cut. None of the three have the guts or fortitude to address New York's out of control spending problem. I'd have more respect for them if they'd have kept the current tax structure. At least that structure would've raised the revenue needed to close the gap. They chose the smoke and mirrors route and a change that will not close the existing budget gap.

The reality is that the underlying problem --- too much spending, unfunded mandates on localities (unreasonable medicaid costs) pension benefits --- have not been resolved. The changes that Larry, Curly and Moe agreed to, do not resolve the problem, yet they have proven one thing: Their word means absolutely nothing. No matter how they sell it, taxes are going up to the tune of $2 billion dollars, money that could be used to create jobs.