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Just so everyone is aware..it is not a 15% income tax..it is an INCREASE OF 15%. For example..if we are currently paying a city income tax of 3%, and increase of 15% would be a new city income tax 3.45%..and that dollar value would be a whopping (note sarcasm) $233 bucks for the year. Furthemore, he has not indicated whether it would be a 7% or 15% increase...so it could be as little as $116 for the year. Now considering the city is on the verge of bankrptucy (or so we are told), why are people going nuts about this?
Well let's see, unlike most of the country, NYC'ers pay state AND city tax. And have one of the highest sales tax rates. And see transportation costs (MetroCards, bridge tolls) increased frequently. Not to mention we have to start paying for plastic bags.
I really hope that the Democrats put someone decent up against Bloomberg next year and not another city council drone.
I am sure this will stur up the pot...but when growing up...I lived in Queens...my parents paid $800.00 a year in property tax...and my father's best friend who had a smaller house...just two blocks away...but was in Nassau County paid $3,600.00 a year in taxes......30 plus years later...my father sold his house...in the $600,000 plus range......and his taxes had just reached $3000.00 a year......his friend had sold 5 years earlier...for $$350,000...and his taxes were $9,800.00 a year......so tell me...do you think there is any tax in-justice going on......perhaps if the property taxes were increased a little...the city would be able to balance it's budget...
bingo. NYC has very, very low property taxes. In fact, you can thank the financial sector for paying a lot of the taxes to begin with.
I don't understand all the hostility towards bloomberg. In no way is it his responsibility to contribute his fortune towards city funds anymore than the proportional amount of your personal savings should be contributed towards the city budget. I'd be surprised if he hasn't personally paid more taxes and contributed more towards the city services you enjoy than everybody on this discussion board combined multiplied by 100. He's doing what he has to do to balance the buget, making decisions that are clearly unpopular but nonetheless absolutely necessary. I mean, if you want, he can just not raise any taxes and get rid of the schools, the fire department, the police, ..... you name it. Then, your property that you own and probably are still paying that mortgage on will be worth a fraction of what it is today.
The only thing I can fault the guy for is giving so much subsidies to the new stadiums, which will, even with projected tax revenues and economic growth as a result, will not equal the cost to taxpayers. But other than that, he's had to make tough choices with the budget that obviously a lot of people complaining wouldn't be able to do.
and to make one more point about taxes, the money you make and feel entitled to may certainly be a result of your labor, your effort. but you need government services for that job you have to be there to begin with. Of course government needs to be trimmed down, made more efficient, and the least amount of taxes as possible. But at the same time, if no taxes were paid, there would be no roads, no protection. You wouldn't even be able to read this because you would not have received an education. So face it, times are tough, and if you still have a job you should be grateful for even being able to pay taxes, because if you didn't, you wouldn't be employed at all. If you don't want to pay taxes, then you should move into the woods, hunt for food, and try and stave off deadly infections, disease, viruses, and injuries without a doctor. Your choice.
I am sure this will stur up the pot...but when growing up...I lived in Queens...my parents paid $800.00 a year in property tax...and my father's best friend who had a smaller house...just two blocks away...but was in Nassau County paid $3,600.00 a year in taxes......30 plus years later...my father sold his house...in the $600,000 plus range......and his taxes had just reached $3000.00 a year......his friend had sold 5 years earlier...for $$350,000...and his taxes were $9,800.00 a year......so tell me...do you think there is any tax in-justice going on......perhaps if the property taxes were increased a little...the city would be able to balance it's budget...
Who cares about Long Island? That is their problem. Nobody forces people to live there and pay those high property taxes. Compare the schools,roads,etc from Queens versus Nassau county.
Who cares about Long Island? That is their problem. Nobody forces people to live there and pay those high property taxes. Compare the schools,roads,etc from Queens versus Nassau county.
People leave the 5 boros...so that they can offer their children a better life...or at least they use to...perhaps if NYC raised the property taxes and put the money into schools instead of the welfare system...less people would have moved out and the 5 boros would be a better place to live......
Why didn't Bloomberg or Giuliani ever establish a "rainy day fund" for the city to cover shortfalls like this? That idea has been bandied around for years, but apparently, it never actually got implemented.
Also, though it's almost impolite to say, one way of raising revenue would be to end rent control in the city.
Bloomberg is the 8th richest american in the United States with a net worth of 20 billion. If he wanted to he could solve the budget gap with a snap of his fingers. What mayor of any city ever had that kind of money before? Politicians suck money out instead of putting their own money in. Yeah he gives to charities...makes a great tax write off. That is all a PR stunt. He just wants to keep his billions within his family for generations to come.
He didn't cause the economic crises but neither did we,but in the end we will get the short end of the stick. Who is going to defeat him anyway in the next mayoral election with all his money?
Question:
How much money will Bloomberg have left after Obama raises his taxes?
People leave the 5 boros...so that they can offer their children a better life...or at least they use to...perhaps if NYC raised the property taxes and put the money into schools instead of the welfare system...less people would have moved out and the 5 boros would be a better place to live......
actually people moved to LI only after moses built highways to fuel its development in the 1950's. At that time, the FHA only gave loans for suburban housing units, so in many ways, the growth of LI's suburbs, like all over the country, are the result of government policy and subsidy. Had our markets been left to do their thing, the IND, IRT, and BMD would have expanded their transit networks in the city and there would be many more apartment buildings and much greater development, with far fewer people leaving for the suburbs.
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Property Taxes TOOOOO Low!!!
...30 plus years later...my father sold his house...in the $600,000 plus range...
...and his taxes had just reached $3000.00 a year...
...his friend had sold 5 years earlier...for $$350,000...and his taxes were $9,800.00 a year...
...perhaps if the property taxes were increased a little...the city would be able to balance it's budget...
Parents Care!!!
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