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I've always thought that this would be a good idea. With the CPI of places like NYC and LA being so high compared to say, Des Moines, we end up giving more than we get back. I doubt it has a snowballs chance in hell, but its scary to know that 200k on Long Island is equivalent to about 120k in Indianapolis. And we know everyone ain't making 200k here.
Bid to adjust Federal taxes for LI higher living cost -- Newsday.com (http://www.newsday.com/news/local/nassau/ny-ustax0312615249apr02,0,1902891.story - broken link)
There's a lot of chicken or egg type questions in that article. Cost of living is high in Nassau Suffolk. Why? A few reasons: high property taxes (which pay cops and teachers salaries, which are very high because..cost of living is high!) and real estate costs which are high because of short supply and very high salaries of people who work in Manhattan, commute here, and never cared about overpaying for a house. One would think that with housing values coming down, many big paying finance jobs disappearing, etc, that those things should adjust.
Don't expect the rest of the country to feel sorry for us, though.
I agree about the high salaries of cops, teachers, etc. and the high property taxes. But remember that the CPI here is the highest in the nation, so when you go to Pathmark and want a box of Frosted Flakes, its a lot more expensive than, say, Super Walmart in Charleston, SC. Whenever I go down South and look at the food prices I am blown away by the disparity. All of these things contribute to our high cost of living.
Isn't it a fact that NY state as a whole sends the feds a lot more than we ever get back? And isn't that directly correlated to the fact that we have more high income earners, etc., thus are taxed higher but these higher federal taxes don't take into account the location you live in. So yeah everyone says who cares you make more stop whining but when every single item we purchase and consume costs much higher than the national average, it eats away at that gap and eventually brings the higher income worker here on the Island in line with someone in say Dallas.
I agree about the high salaries of cops, teachers, etc. and the high property taxes. But remember that the CPI here is the highest in the nation, so when you go to Pathmark and want a box of Frosted Flakes, its a lot more expensive than, say, Super Walmart in Charleston, SC. Whenever I go down South and look at the food prices I am blown away by the disparity. All of these things contribute to our high cost of living.
Isn't it a fact that NY state as a whole sends the feds a lot more than we ever get back? And isn't that directly correlated to the fact that we have more high income earners, etc., thus are taxed higher but these higher federal taxes don't take into account the location you live in. So yeah everyone says who cares you make more stop whining but when every single item we purchase and consume costs much higher than the national average, it eats away at that gap and eventually brings the higher income worker here on the Island in line with someone in say Dallas.
I paid $41.00 friggin' dollars for an oil change at a Jiffy Lube in Commack yesterday (a Jiffy Lube that didn't have it's prices posted anywhere). I've never paid more than $25.00 ANYWHERE ELSE ON THE PLANET!
I agree about the high salaries of cops, teachers, etc. and the high property taxes. But remember that the CPI here is the highest in the nation, so when you go to Pathmark and want a box of Frosted Flakes, its a lot more expensive than, say, Super Walmart in Charleston, SC. Whenever I go down South and look at the food prices I am blown away by the disparity. All of these things contribute to our high cost of living.
Isn't it a fact that NY state as a whole sends the feds a lot more than we ever get back? And isn't that directly correlated to the fact that we have more high income earners, etc., thus are taxed higher but these higher federal taxes don't take into account the location you live in. So yeah everyone says who cares you make more stop whining but when every single item we purchase and consume costs much higher than the national average, it eats away at that gap and eventually brings the higher income worker here on the Island in line with someone in say Dallas.
I agree 100%. I've been railing about this for years.
I know that most are saying that this won't pass, but we can hope. Afterall, this wouldn't directly affect the tax burden of the lower cost areas, it would just bring our burden more in line with their level. I suppose that there would be an indirect impact as there would be less revenues flowing to the federal government from high cost areas like LI and that would lead to less money for them to send out around the country for various programs, etc.
Bottom line is that LI and other extremely high cost areas will become home for only the ultra rich and ultra poor if something isn't done to take the cost of living variable into account in some manner.
I paid $41.00 friggin' dollars for an oil change at a Jiffy Lube in Commack yesterday (a Jiffy Lube that didn't have it's prices posted anywhere). I've never paid more than $25.00 ANYWHERE ELSE ON THE PLANET!
That was my exact experience the one and only time I've gone to Jiffy Lube. I'll never go to them again and strongly advise all reading this to avoid them as well.
I agree 100%. I've been railing about this for years.
I know that most are saying that this won't pass, but we can hope. After all, this wouldn't directly affect the tax burden of the lower cost areas, it would just bring our burden more in line with their level. I suppose that there would be an indirect impact as there would be less revenues flowing to the federal government from high cost areas like LI and that would lead to less money for them to send out around the country for various programs, etc.
Bottom line is that LI and other extremely high cost areas will become home for only the ultra rich and ultra poor if something isn't done to take the cost of living variable into account in some manner.
God help us if something like this passes. Like you said there would be less revenue flowing to the government and that would need to be remedied. A simple remedy would be to enact the elimination of property tax and interest deductions from federal returns. It has been kicked around for years and something like this could be the give back to put a little steam into the horrible removal of deductions. Just a possible opinion of what could happen. It seems in most instances in life when something seems to good to be true it is and the unintended or unforeseen consequences can be far reaching.
Similar to this is long islands property tax grievances. I am not sure of the statistic but i think over half of the homes are greiving their taxes. Supposing many of those go through the county will just have to increase rates because it can't afford to lose that revenue.
God help us if something like this passes. Like you said there would be less revenue flowing to the government and that would need to be remedied. A simple remedy would be to enact the elimination of property tax and interest deductions from federal returns. It has been kicked around for years and something like this could be the give back to put a little steam into the horrible removal of deductions. Just a possible opinion of what could happen. It seems in most instances in life when something seems to good to be true it is and the unintended or unforeseen consequences can be far reaching.
Similar to this is long islands property tax grievances. I am not sure of the statistic but i think over half of the homes are greiving their taxes. Supposing many of those go through the county will just have to increase rates because it can't afford to lose that revenue.
I hear you; that's probably where they'll eventually look if they ever did pass this bill. You'd think that all of these politicians at the local, state and federal levels would actually look to curb wasteful spending to help bring things back in line with the reduced revenue stream, but that will never happen in this era of big government. It's much too easy for them to take something away from us (i.e. certain deductions) that effectively increases the tax burden so that the money keeps rolling in for their pet projects, etc.
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I agree!
