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Big spending politicians will be dealing with a 20% reduction in sales tax revenue. Add in the fact that many municipalities wrongly appropriated extra covid money and gave it away. Next years budget will be interesting.
https://spectrumlocalnews.com/nys/ce...so-is-tax-talk
From this April article: “New York has a budget surplus of more than $8 billion, and this week state Comptroller Tom DiNapoli reported the state took in $3 billion more in tax revenue than initially projected. New York's overall personal income tax revenue has fallen by $12 billion in the last year.”
https://spectrumlocalnews.com/nys/ce...so-is-tax-talk
From this April article: “New York has a budget surplus of more than $8 billion, and this week state Comptroller Tom DiNapoli reported the state took in $3 billion more in tax revenue than initially projected. New York's overall personal income tax revenue has fallen by $12 billion in the last year.”
We aren't discussing last year, other than to point out, as I said, that NYs will have much less in its coffers due to the sales tax decline, and the end of covid money. Ironically, that extra covid money probably fueled the higher sales tax revenue last year.
Meanwhile we keep spending millions on asylum seekers and the Assembly continues to think of ways to blow money.
This state is going to have some serious financial issues going forward.
Indeed. AND, the current rate of inflation, which has added cost to daily living, has people cutting back, therefore sales tax revenues are proportionally dropping.
Quote:
Originally Posted by ckhthankgod
To be fair, they were sent to the state by way of other states.
How about this....."To be fair", the Federal government, who allowed the invasion in the first place, is the true cause of this problem. You can't blame the border states for being extremely upset over what has happened to them.
Indeed. AND, the current rate of inflation, which has added cost to daily living, has people cutting back, therefore sales tax revenues are proportionally dropping.
How about this....."To be fair", the Federal government, who allowed the invasion in the first place, is the true cause of this problem. You can't blame the border states for being extremely upset over what has happened to them.
Sure and don’t disagree, but the fact still is that FL and TX sent migrants to NY and other Northeastern states.
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