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Old 07-16-2009, 06:12 AM
 
1,513 posts, read 1,958,939 times
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Default I have an idea - Let's scare off the last rich people we have here

DEM HEALTH RX A POI$ON PILL IN NY - New York Post

This is more a statement of the idiots that we have sent to Washington and to Albany, but if you were rich, would you honestly pay 57% of your wages in order to have the "privilege" of living here? I would guess that most would pull a Tom Golasano, and move to a lower tax state.

 
Old 07-16-2009, 08:13 PM
 
Location: Sunny Arizona
623 posts, read 1,006,717 times
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Wow. What an ugly group of articles. Not looking good folks.
 
Old 07-17-2009, 07:19 AM
 
Location: Boston, MA
805 posts, read 1,564,109 times
Reputation: 559
Relax for a moment. I don't think Obama's plan to expand healthcare is taking off any moment soon. The economy is too weak to afford him the opportunity. It looks like New York is trying to follow Massachusetts in providing universal health coverage and their tactic is to tax the rich to pay for it. I sincerely question how Massachusetts is able to continue to pay for its plan and sooner or later it might have to abandon it altogether. After the reading the article though, it seems like the bill is targeting NYC. There are some people here on the east coast (not including me) that have a feeling that the rich blue bloods in NYC are holding on to too much wealth and they would like to see some of it redistributed. I am only guessing that this is a way to do it.
 
Old 07-17-2009, 08:12 AM
 
1,513 posts, read 1,958,939 times
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Well it said that NYC could be as high as 62%, if I remember right, the rest of NY could be as high as 57%. When you think about $1 million a year isn't tons of money. Yes, it is far more than average, but I am going to assume that if someone is paying you that much money, you are very good at what you do. In other words, the kind of person that NY should want to attract, simply by the virtue of their talent. If this goes through, people are going to continue moving to lower taxed areas. We are seeing financial centers popping up all over the country, because NYC is so highly taxed, that people who deserve to make alot of money don't want to move there, but go where they might make 10% less, but take home 10% more after taxes.

This is a fundamental reason as to why Buffalo is declining. I'll say, I am set to graduate Magna C.um Laude, and have a pretty solid resume. I have been blessed to be surrounded by many successful people that have looked for jobs for me within and outside of their companies - I won't take a job in New York, because the taxes are FAR too high. So NY loses another talented person. I may be just one, but when there are thousands like me every year go away, you have a ticking time bomb. You either need to diffuse it, or have it explode in your face. It seems more like the New York government will blow up because too many high earners will have moved away.

Interesting that you mention Massachusetts:

http://www.nytimes.com/2009/07/16/us/16hospital.html?hp
 
Old 07-17-2009, 08:18 AM
 
Location: Hamburg, NY
1,350 posts, read 1,769,579 times
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If California legalizes Marijuana look for NY, Massachusetts & maybe even Michigan to be lining up behind them to get a similar bill passed. IMO NY should be trying to legalize it before California, the state that does this first stands to gain the most from it as they will be swimming in tax dollars as other states await legislation.
 
Old 07-17-2009, 08:33 AM
 
Location: Hamburg, NY
1,350 posts, read 1,769,579 times
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While I agree that taxes in NY are a large part of the reason for the exodus & they could stand to be lowered a bit (both corporate & individual), taxes are a necessary evil. Texas, which turned down approximately $550 million in federal stimulus money that would have covered their unemployment benefits is now in the red. They are now in the process of trying to borrow nearly $200 million from the fed to cover these expenses. The offered stimulus money was free & clear, the proposed loan will not be. At some point they will either have to implement a state income tax or raise corporate taxes. The property taxes across most of Texas are already on par with NY and the public school system is in much worse shape. The larger metro areas in the red states are having trouble keeping up with the infrastructure needed to maintain the population & they are running out of available funds to pay the ever growing number of unemployed. Taxes are the only real way out, they all know it. Most will hold off to the bitter end but the free ride in the dirty south is just about over.
 
Old 07-17-2009, 01:56 PM
 
29,033 posts, read 32,988,763 times
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Quote:
Originally Posted by jblake78728 View Post
While I agree that taxes in NY are a large part of the reason for the exodus & they could stand to be lowered a bit (both corporate & individual), taxes are a necessary evil. Texas, which turned down approximately $550 million in federal stimulus money that would have covered their unemployment benefits is now in the red. They are now in the process of trying to borrow nearly $200 million from the fed to cover these expenses. The offered stimulus money was free & clear, the proposed loan will not be. At some point they will either have to implement a state income tax or raise corporate taxes. The property taxes across most of Texas are already on par with NY and the public school system is in much worse shape. The larger metro areas in the red states are having trouble keeping up with the infrastructure needed to maintain the population & they are running out of available funds to pay the ever growing number of unemployed. Taxes are the only real way out, they all know it. Most will hold off to the bitter end but the free ride in the dirty south is just about over.
Thank you for saying this. People don't understand that these other states have to get their money from somewhere. For instance, in VA, there is a tax for your car. As more and more people move down there, the need for more coverage for more infrastructure will increase. It's already happening, but many people don't realize it. So, the tax issue is just moving around and will catch up with people no matter where they live.
 
Old 07-17-2009, 02:14 PM
 
1,513 posts, read 1,958,939 times
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Quote:
Originally Posted by jblake78728 View Post
They are now in the process of trying to borrow nearly $200 million from the fed to cover these expenses. The offered stimulus money was free & clear,
No they weren't that's why they were turned down, they came with preconditions on how to spend most of the money, and even worse, would force Texas to expand the role of government in the future, solely by accepting this "gift."

Quote:
If California legalizes Marijuana look for NY, Massachusetts & maybe even Michigan to be lining up behind them to get a similar bill passed. IMO NY should be trying to legalize it before California, the state that does this first stands to gain the most from it as they will be swimming in tax dollars as other states await legislation.
California stands to get UP TO $1.4 billion in taxes (probably lower, as this is the number touted by advocates). You can assume that in NY, a state with half the population, that you would receive half the income, so as much as $700 million. So I think an important question to ask is, "Is it worth the social degradation in order to cut NY's deficit by less than 4%?" Almost everyone would say no.

If you want to legalize marijuana, say it's because you want to fry your brains without the risk of going to prison, but don't say that it will make some massive fiscal difference, because it won't.

Quote:
As more and more people move down there, the need for more coverage for more infrastructure will increase.
I agree that infrastructure might need to expand in a few states, but look at NY's largest expenditures: social programs like welfare, and healthcare. The South has largely managed to avoid these large expenditures. And while an expanding city may need more roads and sewers, these are offset by increase in people paying taxes, so they won't need to increase tax rates.

You can either have a large hand in a few pockets, or you can have a small hand in many pockets. The fastest growing states have a low tax rate across the board. Texas has decided that instead of scaring the "rich" off with confiscatory taxes isn't their best route - and they are being rewarded for it through an increase in population.
 
Old 07-17-2009, 02:55 PM
 
Location: Hamburg, NY
1,350 posts, read 1,769,579 times
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Quote:
Originally Posted by Canerican View Post
If you want to legalize marijuana, say it's because you want to fry your brains without the risk of going to prison, but don't say that it will make some massive fiscal difference, because it won't.
I don't smoke pot but I also don't condemn those that do. Its less dangerous than alcohol is to the user as well as those around the user. Ever hear of a pot head beating the hell out of his wife & kids just because he was high & had a bad day?

Don't give me your social degradation BS because I don't buy it. People are going to smoke weed whether its legal or not (right now it is easier for a teen to get some weed than booze or cigarettes). The risk of going to prison for merely smoking weed is pretty much non existent. Unless you are some sort of dealer the cops really have no interest in you & at worst will give you a fine. Might as well legalize it & take advantage of the money to be made.


Quote:
Originally Posted by Canerican View Post
No they weren't that's why they were turned down, they came with preconditions on how to spend most of the money, and even worse, would force Texas to expand the role of government in the future, solely by accepting this "gift."
GMAFB already. All they were asked to do was to expand their unemployment coverage (which would have put them on par with the rest of the civilized world).

BTW, Gov Good Hair Perry wasn't too worried about the "expanding role of government" or any other conditions that came along with the $17 billion of stimulus money he accepted .... only the $555 million he declined (against the advice of Texas Workforce Commission & his own party).
 
Old 07-17-2009, 04:42 PM
 
1,513 posts, read 1,958,939 times
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Quote:
Originally Posted by jblake78728 View Post
I don't smoke pot but I also don't condemn those that do. Its less dangerous than alcohol is to the user as well as those around the user. Ever hear of a pot head beating the hell out of his wife & kids just because he was high & had a bad day?
Good point. I am in favor of strongly limiting alcohol, as you must be as well.

But I have heard of a drug addict killing their own families to rob them so they could get their fix.

Quote:
GMAFB already. All they were asked to do was to expand their unemployment coverage (which would have put them on par with the rest of the civilized world).
There are many reasons not to expand welfare, like unemployment programs. Not the least is that it rewards people to not work, thus causing them not to look for work. I have a friend on unemployment right now, he was fired from his job in the mall, and isn't even looking for a job because he has 9 months of unemployment (he actually makes more on unemployment than when he was working). That's truly what you want?

Leave other states alone. There is a good reason that people are leaving Liberal New England in droves for the Conservative South...
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