Taxes going up? (New York, Hempstead, Babylon: middle-class, mortgage, credit)

[JustBored]

Anyone else hear anything about this?

It's budget time for towns on Long Island, and nearly all of them are raising taxes

Babylon Supervisor Steve Bellone says the economic crisis leaves him no choice. "This is our first tax increase in seven years. We've done everything we can to avoid it," Bellone said.

Officials say mortgage tax revenue, rising fuel costs and the soft economy have combined to cause at least 11 of Long Island's 13 towns to propose tax increases for the coming year.

The proposed increases range between 2 and 28 percent for the coming year, 1010 WINS' Mona Rivera reported.

Babylon is considering a property tax hike of 9.4 percent.

Thats the full article.. which can also be read here..
1010 WINS New York's #1 source for local news, traffic and weather - Tax Increases Proposed for Nearly Every Town on Long Island?

Man.. If Prop taxes went up another 10% on top of what happens every year with the schoooooooooooooooooooooooooooooool budget...

sigh

[workingclasshero]

if you think the local taxes going up, wait till you see what the federal government under obama will do






his OWN STATEMENTS on the ECONOMY and taxes say otherwise



look at what Obama has STATED:



1. he will let the bush taxes/credits expire....this will hurt the poor and the working/middle class. ESPECIALLY the credits (child care, child, energy(putting insulation in your home), education, health costs, 401k)



2. he said he will raise taxes on the 'rich'(people over 250k)and no on the middle-class........yet he will allow the bush tax cuts to expire, so the poor/working/middle classes will ALL face an automatic 1% INCREASE............ALSO.....the income tax on people over 250k, will hurt SMALL BUSINESS owners, why because they don't pay 'corporate taxes' they pay income tax and from their business EVERYTHING is listed ...ie. if they own a small BAKERY have 2 employees and they have an INCOME (total income) of 400k they will be taxed on that EVEN IF they only make a profit of one dollar



3a. he will raise the taxes (rate) on ss...... this will leave less in peoples pocket

3b. by raising the rate he will also be RAISING THE PAYOUT.while this may be good for the lower brackets it is also bad(see 3c)

3c. He will raise the cap of who has to pay ss tax (from the current 100k).....this will has 2 effects..a)it the short term it will bring more money into the government because a person making (lets say) 200k will pay into SS for the whole year instead of 6 months...but b) it will also raise the amount that the rich have PAID into therefore raising the amount they can collect later..and that's a PROBLEM in the long term



4. he will raise corporate taxes.(we are already the 2nd highest taxed in the world).......this will drive even more jobs away...btw IRELAND has the lowest corporate taxes in the world, and have the biggest and fastest GROWING economy.



5. HIS Un tax will cost the american taxpayer between 500 billion to 1 trillion a year..where will he get this money,,certainly the taxpayers can't afford more on their shoulders.



6. his NHC idea (nhc is a good idea, but the cost is too great)....will cost between 2 trillion to 5 trillion a year..where will he get this money..more debt?? or more taxes that the taxpayer cant afford



obama is not change, or at least not the change we need

[Kbinspections]

Smithtown is looking at a 4% increase. Evidently we have a nice rainy day fund for a bad economy.

[fopt65]

Originally Posted by JustBored

Anyone else hear anything about this?

It's budget time for towns on Long Island, and nearly all of them are raising taxes

Babylon Supervisor Steve Bellone says the economic crisis leaves him no choice. "This is our first tax increase in seven years. We've done everything we can to avoid it," Bellone said.

Officials say mortgage tax revenue, rising fuel costs and the soft economy have combined to cause at least 11 of Long Island's 13 towns to propose tax increases for the coming year.

The proposed increases range between 2 and 28 percent for the coming year, 1010 WINS' Mona Rivera reported.

Babylon is considering a property tax hike of 9.4 percent.

Thats the full article.. which can also be read here..
1010 WINS New York's #1 source for local news, traffic and weather - Tax Increases Proposed for Nearly Every Town on Long Island?

Man.. If Prop taxes went up another 10% on top of what happens every year with the schoooooooooooooooooooooooooooooool budget...

sigh

Remember its 10% of the town tax, not your TOTAL tax bill. Town of Hempstead is proposing an increase that will be about $28 a year increase.

[Jrprofess]

Originally Posted by Kbinspections

Smithtown is looking at a 4% increase. Evidently we have a nice rainy day fund for a bad economy.

Vecchio is a tight-ass. Maybe too much, but that is helpful in times like this...

[okaydorothy]

Irelands economy is bad now. While they have tax incentives on business's coming in from overseas, the income tax is horrendous. When we were living there in the 80's the tax rate was 28% and 36% ; and you got to the 36% very fast.

Oh but our fire district can reduce our taxes. By a lousy $1. Not to mind the fact that we pay the highest fire tax in the state, have the poorest population and the smallest fire district.

d

[Kbinspections]

Originally Posted by Jrprofess

Vecchio is a tight-ass. Maybe too much, but that is helpful in times like this...

I argrre and he hates change but IMO that has kept Smithtown as nice as it is. Almost small town and country like.

[Smash255]

Originally Posted by workingclasshero

if you think the local taxes going up, wait till you see what the federal government under obama will do






his OWN STATEMENTS on the ECONOMY and taxes say otherwise



look at what Obama has STATED:



1. he will let the bush taxes/credits expire....this will hurt the poor and the working/middle class. ESPECIALLY the credits (child care, child, energy(putting insulation in your home), education, health costs, 401k)



2. he said he will raise taxes on the 'rich'(people over 250k)and no on the middle-class........yet he will allow the bush tax cuts to expire, so the poor/working/middle classes will ALL face an automatic 1% INCREASE............ALSO.....the income tax on people over 250k, will hurt SMALL BUSINESS owners, why because they don't pay 'corporate taxes' they pay income tax and from their business EVERYTHING is listed ...ie. if they own a small BAKERY have 2 employees and they have an INCOME (total income) of 400k they will be taxed on that EVEN IF they only make a profit of one dollar



3a. he will raise the taxes (rate) on ss...... this will leave less in peoples pocket

3b. by raising the rate he will also be RAISING THE PAYOUT.while this may be good for the lower brackets it is also bad(see 3c)

3c. He will raise the cap of who has to pay ss tax (from the current 100k).....this will has 2 effects..a)it the short term it will bring more money into the government because a person making (lets say) 200k will pay into SS for the whole year instead of 6 months...but b) it will also raise the amount that the rich have PAID into therefore raising the amount they can collect later..and that's a PROBLEM in the long term



4. he will raise corporate taxes.(we are already the 2nd highest taxed in the world).......this will drive even more jobs away...btw IRELAND has the lowest corporate taxes in the world, and have the biggest and fastest GROWING economy.



5. HIS Un tax will cost the american taxpayer between 500 billion to 1 trillion a year..where will he get this money,,certainly the taxpayers can't afford more on their shoulders.



6. his NHC idea (nhc is a good idea, but the cost is too great)....will cost between 2 trillion to 5 trillion a year..where will he get this money..more debt?? or more taxes that the taxpayer cant afford



obama is not change, or at least not the change we need

1. What are you basing this off of, he NEVER stated that, this thing called $250,000.

2. Again only for those making over $250,000, 95% will see a tax cut

3a not raising the rate, the rate will remain at 6.2%, raising the cap has been discussed as a possibility" "but not the rate
b again see above

4. We actually don't have the 2nd highest corporate taxes. The vast majority of corporations in the U.s pay lower taxes than Ireland. Ireland has basically no write offs, deductions, etc in their corporate tax code, the U.S does, most corporations actually pay less than 10% in taxes, and get tax breaks for shipping jobs oversees, this will end under Obama

5&6 just utterly making numbers up there