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Old 05-17-2011, 11:35 AM
 
2,356 posts, read 3,683,011 times
Reputation: 476

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Quote:
Originally Posted by formyblog View Post
You will never vote against your beliefs wherever you stay. Whats the probability of a teacher staying in another district to vote NO to school budget increase ? Wall street may screw the common guys but they are united when it comes to worse times. didn't you see all banks got bailed out and not a single bank raised the question why? Did any bank say We have been good let the other bank go down.


Long Island Property Taxes, New York's skyrocketing debt

Thats right.... vote NO everyone. End the bullying. Do it for the kids.

We need to get back to the days when the school tell us what they will do extra if we pass the budget, and not what they will take away if we do not pass it. Again, Do it for the kids !!
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Old 05-17-2011, 02:59 PM
 
1,794 posts, read 1,356,427 times
Reputation: 1179
Quote:
Originally Posted by formyblog View Post
I agree bush tax cuts need to be reversed but then don't stop at 250k for that. If they need to be reversed then go back to what it was. Don't just tax the rich whenever there is shortfall or revenue issue. Also i don't know how bush tax cuts have to do with state budgets. Did NY gave any tax cuts ? So how come NY is having budget issues ? basically FED tax breaks are helping states indirectly as puts more money into people pockets so they spend and state gets sales tax.
The highest earners in this country are currently taxed at the lowest rates in 50 years, and pay effective tax rates that are even lower. Raise their taxes to Clinton-era rates and we won't have a problem. Raise them to Nixon-level rates (that big socialist!) and we could pay for a new American renaissance.

New York is in the same boat. Cuomo et al. have outright rejected any tax hikes. Ergo their only solution is to cut wages and benefits to public sector employees.
Quote:
Borrowing is okay as long as someone is willing to give you and you get the money at a reasonable rate. Now FED is just borrowing from itself basically printing money and debasing the dollar. How is that good ? If they need money then go sell bonds. Why print money to keep rates artificially low. Its basically stealing money from savers to spenders.
The FED "prints money" by selling treasury bonds, most of which are bought by Americans. It is "good" so long as they use the money they borrow to invest in the economy. Of course, since they seem to want to use that money to fund endless wars in the Middle East rather than make sure Americans have access to health care, you may have a point.
Quote:
Originally Posted by NYEconomist View Post
Basic Keynesian economics states that a government can run a slight deficit in order to stimulate their economy in times of recession. He doesn't promote the idea that we should always run a deficit. And just conveniently ignore the fact that we have increased our debt by the same amount in the past 7 years as we did in the preceding 50 years. Don't worry about it! Wow, and online poster with a weak grasp on reality reassured me that everything is ok. I feel so much better.
Debt is most accurately described as a function of percentage of GDP, and the US isn't exceptional in that regard, coming in at 97% of GDP compared to 398% for the UK, 188% for France, 131% for Australia, etc. In fact in raw dollars the US's debt is nearly identical to the EU.

While I'd like to see our debt brought down, a Keynesian would agree that it's more important that they money we are spending be spent on activities that will stimulate our economy. The peril we have is that we are taking on debt in order to finance tax cuts for the wealthy and endless wars in the middle east (as well as on the military-industrial complex and its products in general), which does little to create jobs, educate our citizens, etc. Hell, at least the Europeans have universal health care and free education to show for it.
Quote:
Government spending gone awry is not some economic abstract. You can look at Portugal and Greece as two great examples. Are we where they are? No, but we're getting precariously close and we are not a small nimble nation that can easily change course.
Greece's problems are rather unique in that, as a Eurozone nation, they cannot devalue their own currency. They were also among the many victims of Goldman Sachs et al., although now we're getting into a different topic. Portugal's problems are complex but are only tangentially related to taking on too much debt - at least, in the sense that you would advocate against (IE, spending on public employees).
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Old 05-17-2011, 03:15 PM
 
113 posts, read 63,425 times
Reputation: 31
Default Fed money printing

Fed doesn't print money when it sell bonds to others like US citizens or any other party/country but recently its buying its own bonds which indirectly is printing money.

Rich are paying less taxes because investments are taxed less after bush tax cuts. I agree reverse bush tax cuts but that will not solve state budgets anyway.

Nothing goes on forever i am pretty sure that all these huge pensions and salaries with come to an end one day as people wont be able to afford them. Its just some people will get lucky in between.


Long Island Property Taxes, New York's skyrocketing debt
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Old 05-17-2011, 06:33 PM
 
113 posts, read 63,425 times
Reputation: 31
Default Should we ban people affiliated with school district to VOTE on school budget ?

Do you think its similar to insider trading ? Its like giving raise to yourself !
Or count the vote by 1/2

Well I think this idea is not going to work as our congressmen vote for their own raise and there is no opposition to vote also.


Middle Country School Proposed Budget 2011-2012, , Long Island, NY
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Old 05-19-2011, 07:02 AM
 
Location: Long Island
8,941 posts, read 3,038,839 times
Reputation: 1690
Now here is someone really out of touch:

"We already have a democratic process for capping property taxes, and it works pretty well," said Richard Iannuzzi, president of the 600,000-member New York State United Teachers union."

"In the William Floyd district -- to cite the most dramatic example -- voters on Tuesday narrowly agreed to a 12.47 percent hike in next year's taxes. That's on top of an 8.53 percent increase this year."


School advocates: Results rebut guv plan
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Old 05-19-2011, 08:53 AM
 
Location: Inis Fada
13,917 posts, read 16,565,656 times
Reputation: 4717
Quote:
Originally Posted by Goodnight View Post
Now here is someone really out of touch:

"We already have a democratic process for capping property taxes, and it works pretty well," said Richard Iannuzzi, president of the 600,000-member New York State United Teachers union."

"In the William Floyd district -- to cite the most dramatic example -- voters on Tuesday narrowly agreed to a 12.47 percent hike in next year's taxes. That's on top of an 8.53 percent increase this year."


School advocates: Results rebut guv plan
I am asking the following because I can't figure out what will happen next there. Many residents in that school district are far from wealthy -- how are they going to afford the increase? What happens to them? Not everyone is able to move off LI. Will we see real estate prices drop out there because the taxes are too much on the homes? Will we see investors snap up the houses turning them into more rentals? What are CD posters thoughts on this?
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Old 05-19-2011, 11:55 AM
 
Location: Nassau, Long Island, NY
15,856 posts, read 17,126,862 times
Reputation: 6523
Quote:
Originally Posted by OhBeeHave View Post
I am asking the following because I can't figure out what will happen next there. Many residents in that school district are far from wealthy -- how are they going to afford the increase? What happens to them? Not everyone is able to move off LI. Will we see real estate prices drop out there because the taxes are too much on the homes? Will we see investors snap up the houses turning them into more rentals? What are CD posters thoughts on this?
Was that one of the districts where the contingency budget was more than the budget put before the voters?

I would say RE prices will drop if too many people cannot afford the taxes and put their houses up for sale, which may draw investors in like circling sharks.
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Old 05-19-2011, 01:01 PM
 
Location: Inis Fada
13,917 posts, read 16,565,656 times
Reputation: 4717
Quote:
Originally Posted by I_Love_LI_but View Post
Was that one of the districts where the contingency budget was more than the budget put before the voters?

I would say RE prices will drop if too many people cannot afford the taxes and put their houses up for sale, which may draw investors in like circling sharks.
I can imagine scooping up a few of those homes on adjacent undersized lots, leveling the houses and putting up something a little bigger. The proximity to the beach is a wonderful draw.
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Old 05-19-2011, 02:14 PM
 
7,338 posts, read 7,853,131 times
Reputation: 2903
I'm guessing that WM Floyd is a big recepient of state and Federal aid because of lower incomes in the area, and they are taking a big hit because of cuts.
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Old 05-19-2011, 03:05 PM
 
Location: Inis Fada
13,917 posts, read 16,565,656 times
Reputation: 4717
Quote:
Originally Posted by dman72 View Post
I'm guessing that WM Floyd is a big recepient of state and Federal aid because of lower incomes in the area, and they are taking a big hit because of cuts.

I do believe that is the problem.
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