Repeal the SALT deduction limit for LIers? (new home, buy)
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That educational scores tend to be higher in areas that have more wealth. A combination of money brings more access to outside of school educational experiences like tutoring, and people who have good careers that required excellence in school tend to have offspring with similar attributes. It is not the high salary of teachers that dictates performance.
Crime is lower in richer areas than poorer areas and has no correlation to what salary the police officers have.
Agree the evidence seems to indicate "educational scores tend to be higher in areas that have more wealth" & high salaries do not dictate performance whether it's education or crime that's being measured.
Although it doesn't make sense to disregard the fact that the relatively higher salaries of teachers & police officers on LI are part of the reason why the area (LI) has more wealth to begin with. Take this study fr'instance:
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Last year, Professor DeFreitas produced a remarkable study that depicted the stark contrast between union and non-union lives. He found that the median Long Island union paycheck is now more than 50 percent higher than what’s earned by similar non-union workers. Factor in health insurance, fringe benefits, overtime pay, employer pension contributions, extended vacations, and pay-for-training, and the gap widens considerably.
"Twenty-five of the 50 highest-paid local employees in New York State work for the Nassau County Police Department."
What does that prove? You don't know what your tax burden for the past year is until your do your tax return. What is taken out of your paycheck is an estimate based on the number of allowances you claim in your w4.
Are you one of those adults that really has no idea how your taxes work? You could see less tax taken our of each paycheck meanwhile you owe more tax for the year; likewise you could see more tax taken out of each paycheck but owe less for the year.
When you do your return, you will see how much tax you payed for the year. You will also see what you should have paid. The delta determines if you get a refund or owe even more when you file. To determine how the law affects you, you need to compare your tax owed last year vs this year and see what rate that resolves to.
Basic economics.
I’m about even overall. More in my paycheck each week, however got a few grand less in return because of SALT. Overall, I’m about even. All goes back to this (posted by another poster here)
“Your 2 counties out of over 3100+ in the country why do you think the federal government singled you out, the world doesn't revolve around LI.”
Again, NOT the Federal Governments fault for outrageous COUNTY taxes.
MOST IMPORTANTLY.....My portfolio is WAY up because of the economy. The few grand in tax returns is peanuts compared to the increase in net the worth within my 401k
"The needs of the many outweigh the needs of the few...or the one"
There's no such thing as the common good? "I've got mine Jack" & so on?
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And so the colony created a remarkable new law. It began, "It being one chief project of that old deluder, Satan, to keep men from the knowledge of the Scriptures ... " and ended with a mandate: that towns of more than 50 families hire a teacher. The law also required that the teacher's wages be paid for "either by the parents or masters of such children, or by the inhabitants in general."
"This law reflected the idea that the local community was responsible for the well-being of all children, not just out of a sense of altruism but because the whole community depended on it," says Ben Justice, a professor of education history at Rutgers.
Is there such a thing as recognition of the common good nowadays? Or is it just an antiquated somewhat 'quaint' idea nowadays?
Your article's search function showed Hempstead spent more money per pupil than Garden City, so I guess poorer districts are getting money after all. State aid, which is paid for communily via state income taxes,flows freely to poorer districts, so there is the common good aspect you were looking for.
Add a renters tax for those who do not pay property taxes, and schools would have even more money.
Some posters are clueless. “ I got more in my paycheck but, my return was less. It evened out.” Yea, that’s not a tax cut. Plus your extra in your paycheck ends this year and the tax man is still gonna get you at returns. Tax increase?
Also if you’re 401k was up this quarter, then we know you don’t have one. I was down over 50k this quarter with a strong economy. Can’t wait to see what happens next!!
Some posters are clueless. “ I got more in my paycheck but, my return was less. It evened out.” Yea, that’s not a tax cut. Plus your extra in your paycheck ends this year and the tax man is still gonna get you at returns. Tax increase?
Also if you’re 401k was up this quarter, then we know you don’t have one. I was down over 50k this quarter with a strong economy. Can’t wait to see what happens next!!
A strong economy doesn’t necessarily equate to an up market. What the market hates is uncertainty.
The DOW is roughly 1.000 pts from the all time high of 26,950.
Quote:
Originally Posted by long isle
Some posters are clueless. “ I got more in my paycheck but, my return was less. It evened out.” Yea, that’s not a tax cut. Plus your extra in your paycheck ends this year and the tax man is still gonna get you at returns. Tax increase?
Also if you’re 401k was up this quarter, then we know you don’t have one. I was down over 50k this quarter with a strong economy. Can’t wait to see what happens next!!
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