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Old 01-26-2011, 07:29 AM
 
72 posts, read 218,207 times
Reputation: 101

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Quote:
Originally Posted by Pequaman View Post
It could be a lot worse //www.city-data.com/forum/long-...ng-island.html

not even that, your $150k, if you even find the same opportunity in "grass is greener land outside of LI", will pay $50k most likely. Other parts of the country are fighting for min wage jobs. If you move from your fam & friends, you'll have so much time on your hands you might even become a regular on city-data and spend your free time posting about how bad it was in NY.

I agree we need some solutions to bring in more business. rentals are not always the answer, look at lynbrook; don't they have a fairly large tax base with the rentals on merrick rd and peninsula ? And lynbrook village taxes are still the highest in Nassau county I believe (next to the gold coast). We need a major corporation in the heart of Nassau. Taxes are too high, no one wants to set up shop here, that's the problem.
Hmmm, I made $9000 per year less in Austin. Paid no income tax so instantly took home more. Rent for a gorgeous 2 bedroom apt was $1200. Could easily buy a house for $250k. That fiction that wages in high tech down south are so low are just that, fiction. In Raleigh Durham, Austin Triangle, Atlanta, they are in desperate need of skilled workers and LOVE New Yorkers because we have great work ethics (generally). Also, because many of the companies are transplanted from here anyway having bailed out due to the oppressive costs.

 
Old 01-26-2011, 07:56 AM
 
Location: Tri-State Area
2,942 posts, read 5,996,435 times
Reputation: 1839
Quote:
Originally Posted by mr. magillicuddy View Post
Wrong, judgedmental and presumptious of you. I could give you my detailed budget (and I maintain a strictly detailed budget). In a good month, we have $1000 left over. Add a birthday party or a wedding present and we're tight. At $150k, we're lucky to take home $100k after taxes, modest 401k contributions and health insurance. $36k mtg, $14k day care $15k (heat, elec, cable, cell, auto insur.), $10-12k gas, $4k auto payment, $3k student loan payment. If we eat and buy food for the dog that's another $7k (extremely modest at under $20 per day for 3 people + dog, including lunches). That's $91k with no particular luxuries. If we beat uncle sam and take home $103k, that's a whopping $1000/mo left over. God forbid we need a car repair or want to throw the kid a bowling party for his birthday. Those royal luxuries will break the bank.

The house dropped $100k in 2 years. So tell me how mind boggling it is that we are not getting ahead?! You don't know what you're talking about. Should I cut out the heat or my kid's lunch?

I bet there are many others here who's monthly expenses look EXACTLY like this.

Oh, and day care will continue. For $8k in school taxes, my district STILL does not have full day kindergarden and at 1st grade he'll go 9-3 so we'll still need before care and pay the district for after school. BTW, his kindergarden teacher makes $120k per year with full bennies and pension. What a racket.
You're right, at 150K a year you are in the 25% tax bracket and probably fall under AMT thanks to your real estate and local taxes - you'd be lucky if you came home with 100K annually. Notice you didn't even mention saving for college - that's because goverment would prefer your kid take out a loan and help the loanshark (um...student loan) industry - do they still charge upfront origination fees, borrow $1,000 pay $60 upfront, net to you $940, but you still owe them $1,000 plus interest? They did when I went to school.

$10-$12K in gas - What are you driving? A tank? Who fills their vehicles up with 3000+ gallons of gasoline a year?

Don't you know - the government doesn't want you to save for your retirement - it wants you to pay more taxes so it can payout those golden pensions to municipal workers.

Last edited by FrmlyBklyn; 01-26-2011 at 08:26 AM.. Reason: grammatical error
 
Old 01-26-2011, 08:21 AM
 
Location: I'm gettin' there
2,666 posts, read 7,322,094 times
Reputation: 841
Quote:
Originally Posted by mr. magillicuddy View Post
Hmmm, I made $9000 per year less in Austin. Paid no income tax so instantly took home more. Rent for a gorgeous 2 bedroom apt was $1200. Could easily buy a house for $250k. That fiction that wages in high tech down south are so low are just that, fiction. In Raleigh Durham, Austin Triangle, Atlanta, they are in desperate need of skilled workers and LOVE New Yorkers because we have great work ethics (generally). Also, because many of the companies are transplanted from here anyway having bailed out due to the oppressive costs.
You are absolutely right !!
Not to get into the "which place is better to live" argument, just financially it makes more sense to live outside NY state.
I had a $15K+ increase in income when I moved in, but I was amazed at my bank balance reporting a lesser savings per month compared to my previous job.
Austin is beautiful by the way !
 
Old 01-26-2011, 08:58 AM
 
72 posts, read 218,207 times
Reputation: 101
Quote:
Originally Posted by FrmlyBklyn View Post
$10-$12K in gas - What are you driving? A tank? Who fills their vehicles up with 3000+ gallons of gasoline a year?
2 6cyl cars (2010 suv, 2002 sedan), both hold about 15 gals. I fill up twice a week (30gals), my wife 3 times (she drives further to work...45gals). 75 gals per week, approx 300gals per month, approx 3600gals per year. At $3.00 per that's $10,800. Currently gas is in the $3.30 range. Thanks for making me double check the math. I was fairly accurate.
 
Old 01-26-2011, 09:34 AM
 
182 posts, read 405,931 times
Reputation: 93
Quote:
Originally Posted by mr. magillicuddy View Post
Hmmm, I made $9000 per year less in Austin. Paid no income tax so instantly took home more. Rent for a gorgeous 2 bedroom apt was $1200. Could easily buy a house for $250k. That fiction that wages in high tech down south are so low are just that, fiction. In Raleigh Durham, Austin Triangle, Atlanta, they are in desperate need of skilled workers and LOVE New Yorkers because we have great work ethics (generally). Also, because many of the companies are transplanted from here anyway having bailed out due to the oppressive costs.
I know nothing about Texas. If there is no state income tax, how does the state collect revenue from the residents?
 
Old 01-26-2011, 09:36 AM
 
6,384 posts, read 13,122,200 times
Reputation: 4662
Looks like you better pack up and get off the Island then. Dont know what to tell you. Many families make it here on less than 150k a year.

Maybe you should drop your 401k to your companies minimum match percentage if your hurting so bad. Also, why have 2010 SUV if your so tight? $1,000 a month left over is not the end of the world and far from poor.


Quote:
Originally Posted by mr. magillicuddy View Post
Wrong, judgedmental and presumptious of you. I could give you my detailed budget (and I maintain a strictly detailed budget). In a good month, we have $1000 left over. Add a birthday party or a wedding present and we're tight. At $150k, we're lucky to take home $100k after taxes, modest 401k contributions and health insurance. $36k mtg, $14k day care $15k (heat, elec, cable, cell, auto insur.), $10-12k gas, $4k auto payment, $3k student loan payment. If we eat and buy food for the dog that's another $7k (extremely modest at under $20 per day for 3 people + dog, including lunches). That's $91k with no particular luxuries. If we beat uncle sam and take home $103k, that's a whopping $1000/mo left over. God forbid we need a car repair or want to throw the kid a bowling party for his birthday. Those royal luxuries will break the bank.

The house dropped $100k in 2 years. So tell me how mind boggling it is that we are not getting ahead?! You don't know what you're talking about. Should I cut out the heat or my kid's lunch?

I bet there are many others here who's monthly expenses look EXACTLY like this.

Oh, and day care will continue. For $8k in school taxes, my district STILL does not have full day kindergarden and at 1st grade he'll go 9-3 so we'll still need before care and pay the district for after school. BTW, his kindergarden teacher makes $120k per year with full bennies and pension. What a racket.
 
Old 01-26-2011, 09:37 AM
 
Location: NYC
7,305 posts, read 13,477,713 times
Reputation: 3714
Quote:
Originally Posted by rocafeller05 View Post
And North Baltimore is soooo much better?
It all depends what you like. I think it's fantastic.

To be fair, I call both LI and Baltimore home because I sort of split my time between the two as a kid.
 
Old 01-26-2011, 09:38 AM
 
Location: NYC
7,305 posts, read 13,477,713 times
Reputation: 3714
Quote:
Originally Posted by BigMike50 View Post
Can I get Amen from the choir
AMEN praise Big Mike
 
Old 01-26-2011, 09:49 AM
grant516
 
n/a posts
Quote:
Originally Posted by 4DogsImDone View Post
I know nothing about Texas. If there is no state income tax, how does the state collect revenue from the residents?
They do not collect revenue from residents.

Local governments property taxes, plus sales taxes, and other types of government fees (like licensing, permits, etc) cover all that the state needs to efficiently operate.

Hell, Alaska kicks its residents BACK money. Imagine getting paid to live somewhere.

Both these states have heavily regulated oil industries. New York's big industry is finance, and lord knows if the top financial firms were all subjected to a 5% increase in state taxes; it could likely pay the resident income taxes of the rest of the state. Alas, the regulations on Finance are shockingly 'hands off'.

Other states, Like Florida and Nevada, have no personal income taxes because tourists bring in copious amounts of money, that is generated via sales tax and resort fees.

While New York City has a large share of global tourists; their use of our public infrastructure (parks, subway, times square) actually drains tax dollars requiring more police (think new years eve, christmas), and public works. While their spending keeps the city business' well in business; the need for TWO income taxes (state and city) are still there.
 
Old 01-26-2011, 10:00 AM
 
Location: Tri-State Area
2,942 posts, read 5,996,435 times
Reputation: 1839
Quote:
Originally Posted by grant516 View Post
They do not collect revenue from residents.

Local governments property taxes, plus sales taxes, and other types of government fees (like licensing, permits, etc) cover all that the state needs to efficiently operate.

Really? Is that why Texas has a $9 billion dollar deficit? Efficient or just ignoring the obvious hoping it's all a bad dream? Sounds like Texas is taking one from the playbook of NY and NJ - if you ignore the problem, it will just fade away.
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