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You're dumb. Thats al man. Using China as an example of trickle down economics is laughable. Yeah cant wait till Chinese ne year when al rgose factory workers have to save their pennies to gi back to some farm xinhua China.
You are clueless. The Chinese have cut their poverty rate by some 70% since the initial market reforms in the 70s. Trickle-down is responsible.
It's so, so simple.
Rich guy has a lot of money. He invests by starting a new company, thereby creating thousands of jobs, which gives those people money to spend, which is spent on things that require workers, and so it goes.
Why do you make it sound like it would be okay to tax people in finance but not everyone else?
Quote:
Originally Posted by babo111
Commuter tax is dumb.
Commuter tax doesn't affect just the people who work in finance like you mentioned. It affects anyone and everyone who doesn't live in NYC including other New Yorkers (think folks like Long Island, Westchester, etc.). Like the doorman at my former Brooklyn building who lives in Long Island for their kids.
In 1999, there was about 800,000 people in NYS (yes, just NYS not NJ or CT) who paid commuter tax and million plus when you count people outside of NYS who paid commuter tax (i.e. NJ, CT). If you put this in now in 2013, you are going to penalize millions of people who commute to NYC and these millions of people do not all work for financial institution.
Also commuters pay their share by paying NYS income (people living in NJ do pay NYS tax and get credit for NJ. Money goes to NYS), and these commuters buy stuff like food, beer after work in NYC which adds up to be millions of dollars in taxes. However, these people do not live in city and therefore how much of the services that NYC income pay for that commuters really eat up? For example, commuters don't live in city, commuters don't send their kids to NYC public school (excluding college).
Lastly. People who have the means that live outside NYC to maximize their tax planning. I'm pretty sure can afford to rent/buy in NYC too albeit smaller space. But what do you think will happen? For example, if I have to pay NYC income tax even if I live in Hoboken. I'll just rent a smaller place in NYC. More demand but you know supply is tight right now in NYC. It'll drive rent and sale prices up, pushing out lesser to do folks even more.
You are clueless. The Chinese have cut their poverty rate by some 70% since the initial market reforms in the 70s. Trickle-down is responsible.
It's so, so simple.
Rich guy has a lot of money. He invests by starting a new company, thereby creating thousands of jobs, which gives those people money to spend, which is spent on things that require workers, and so it goes.
Get that through your thick skull.
It's really not that simple. It tickle down was a panacea, then Reagan wouldn't have had to raise taxes 11 times after his initial slash. Same story with the Bush tax cuts. We were told the resulting economic boom from each tax cut would more than make up for the lost revenue. Both times, it was a bust.
Just because China has boomed and wealthy from around the world have invested there, does not mean trickle-down works. It means have a nearly-free labor market and throwing in some capitalism works. Capitalism does not equal trickle-down.
The rich guy only invests money to start a company when there's enough demand for the product/service the company will provide, to result in a profit. When you take trickle-down to the extreme, the concentration in wealth results in a bunch of rich guys, surrounded by masses that can no longer afford to buy anything.
As someone who works in the startup world, and is surrounded by friends who start and build multi-million dollar companies, I can tell you that these "job creators" would laugh in your face.
While I dislike bloomberg I agree with him on this point.
NYC Income tax is a percentage of ones income and is slightly progressive in NYC. A guy making 10 million pays a lot more tax than 100 guys combined making $50,000. The tax pays for sanitation! fDNY and DDC and other city services. I mentioned sanitation, DDC and fdny because they are the only government services that I support. The tax on the rich peoples income pays for a lot of these services and workers, and these rich people pay for practically everyone else's share even though they don't use those services.
In addition, rich people hire nannies, chefs, drivers, maids, pay for doormen and concierge in buildings, pay for dry cleaning and a lot of things that many non rich people wouldn't spend money on or much less.
Raise taxes on the rich which are already super high given federal, state, local and sales tax, they will go somewhere else. NYC is special because manhattan is on an island (is an island) and the land is unique. But there are other areas which could very easily pop up if there was the demand from the rich.
Personally, as soon as I make enough money, I will leave nyc and move to a state with no state tax and a city with no city tax.
You are clueless. The Chinese have cut their poverty rate by some 70% since the initial market reforms in the 70s. Trickle-down is responsible.
It's so, so simple.
Rich guy has a lot of money. He invests by starting a new company, thereby creating thousands of jobs, which gives those people money to spend, which is spent on things that require workers, and so it goes.
Get that through your thick skull.
Do you live on a farm or some no name small town where trickle down economics may actually work or does? Jesh man everyone here has already stated that trickle-down economics does not work anymore. Please, why can't you get that through your thick mucus infested skull?
You can forget about a commuter tax. That would also need Albany's approval. However, while there are few representatives in Albany willing to fight for "the rich", the voting power of commuting suburban LI and Westchestererites dwarfs that. Plus a lot of those commuters (at least from LI) would see themselves as working class. No-one is going to increase taxes on them - it'll be easier politically (though still hard) to increase taxes on the $500K earners.
I did not ask for this information. Go buzz off man!
You posted a nonsense comment. I replied. Truth hurts, eh? Buzz off, yourself!
Quote:
Originally Posted by Bronxguyanese
Does 5 million NYers that dont work. Hmmm thats primarily the young, the old a d the sick that collects ssi.
Your semi-literate retort is unimpressive.
Young= 1.5 million. 3.5 million NYers (50%) older than 18 do not even file NYC income tax returns! 1.5 million of the 3.5 million filers pay no NYC income tax. Someone is supporting NYC, and it's obviously not you & your ilk.
Quote:
Originally Posted by Ace_TX
what if one day all the rich people in ny get fed up ... move ?
BxGuy will make up the diff.
Quote:
Originally Posted by marilyn220
Do you really believe 5 million out of 7 million new yorkers aren't working or paying taxes?
No. It's 6.5 million out of 8.5 million, who pay no NYC income tax! In NYC, the definition of employment includes working under-the-table & slinging rock.
Quote:
Originally Posted by marilyn220
the spread of misinformation on here is ridiculous.
It's far exceeded by the numbers of the entitled, who are living in denial.
Feel free to post your link, to any reputable agency, such as the Independent Budget Office, providing different statistics. You know, facts ...
Quote:
Originally Posted by Bronxguyanese
It is totally absured that he comes up this sum that 5 million New Yorkers don't pay no taxes? Their are 8 million New Yorkers, so far what you had said only 1/3 New Yorkers pay no taxes. Hell even folks who make low wage income pay taxes even though they also receive public assistance. Clearly Bigjake is not to bright!
Ah, the benefits of an NYC public school education*!
(*I can safely conclude that BxG did not graduate from Science, Tech or Stuy!)
Quote:
Originally Posted by Bronxguyanese
I have a four year degree. I don't lack knowledge ... Native New Yorker
Dare I ask?
Be honest: you found the diploma! Or bought it at a block sale!
Last edited by bigjake54; 11-26-2013 at 04:04 PM..
You did not think this through very carefully, did you?
I did, but you are welcome to post alternative facts.
Quote:
Originally Posted by BinxBolling
-345k is 10 percent of taxpayers, not filers
I understand the word "decile".
Quote:
Originally Posted by BinxBolling
-In 2010, 22% of New Yorkers were under 18 and 12% were over 65. Most do not pay taxes.
-In 2010, average household size was 2.6. Most households file taxes jointly.
I've been working since I was 12. Filing tax returns since age 14. Will be earning income & filing taxes until I die. Most of those over 65 are receiving social security, many are receiving pensions, some are still working or at least reporting earned income from investments. All should be filing returns.
If you have some statistics reporting how many joint NYC income tax returns are filed, I'll be glad to click on the link.
Quote:
Originally Posted by BinxBolling
When you arrived at the clearly absurd conclusion that "5 million New Yorkers pay no taxes,"
You are the one jumping to conclusions. I quoted, accurately, that there are about 2.3 million NYers paying NYC income tax. Subtract that from the city's population.
Quote:
Originally Posted by BinxBolling
you should have recognized it as a sign you made a serious error in your reasoning somewhere--several errors, in fact.
You still haven't posted any facts, statistics or links to challenge my post. You are welcome to do so.
While you're at it, please respond to the main point, which was that less than 35,000 NYC taxpayers pay 43% of NYC's total income tax revenue.
Quote:
Originally Posted by daylux
He's a multibillionaire. If he'd stop hoarding it, he could fund NYC alone for a couple lifetimes.
Bloomie's total wealth is about one-third of an annual NYC budget. He did start with nothing, BTW.
Last edited by bigjake54; 11-26-2013 at 04:09 PM..
You posted a nonsense comment. I replied. Truth hurts, eh? Buzz off, yourself!
Your semi-literate retort is unimpressive.
Young= 1.5 million. 3.5 million NYers (50%) older than 18 do not even file NYC income tax returns! 1.5 million of the 3.5 million filers pay no NYC income tax. Someone is supporting NYC, and it's obviously not you & your ilk.
BxGuy will make up the diff.
No. It's 6.5 million out of 8.5 million, who pay no NYC income tax! In NYC, the definition of employment includes working under-the-table & slinging rock.
It's far exceeded by the numbers of the entitled, who are living in denial.
Feel free to post your link, to any reputable agency, such as the Independent Budget Office, providing different statistics. You know, facts ...
Ah, the benefits of an NYC public school education*!
(*I can safely conclude that BxG did not graduate from Science, Tech or Stuy!)
Why are you even in here?
Don't you live in one of those glorious red states where you don't have to worry about this stuff?
Isn't there a pig race, square dance or some Duck Dynasty stuff happening in your neck of the woods?
There is no way in hell NYC could survive financially if 6.5 million NYers out of 8.5 million were not paying taxes. Absolutely ridiculous!
Worry about Podunk, Nowhere, USA and leave NYC to the big boys. Mmmmkay Bigjake?
Why are you even in here? Don't you live in one of those glorious red states where you don't have to worry about this stuff?
Nope.
Quote:
Originally Posted by marilyn220
Isn't there a pig race, square dance or some Duck Dynasty stuff happening in your neck of the woods?
Gee, you're practically sucking your teefs!
Quote:
Originally Posted by marilyn220
There is no way in hell NYC could survive financially if 6.5 million NYers out of 8.5 million were not paying taxes.
Try to have someone intelligent read my post & links, then explain them to you.
Quote:
Originally Posted by marilyn220
Worry about Podunk, Nowhere, USA and leave NYC to the big boys.
The hood you probably live in has nothing on Nowheresville, big momma.
Last edited by bigjake54; 11-26-2013 at 04:51 PM..
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