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Sorry, Airborneguy, this went way into unrelated degree of detail :-). But it demonstrates one issue that people considering to retire to NYC are facing (there is at least one such repeat poster here, in addition to me - and the issue of retirement to NYC resurfaces occasionally on the Retirement forum). NY is so aggressive with trying to prove that all your money belongs to it (ie, to its enormous welfare population) that, if you have any comnection with NY whatsoever, you have to think of a possibility that NY may find a way to tax something for which you already paid state tax to a different state. One more deterrent from moving to NY.
“This is gonna be a tough budget year … unless money’s gonna fall from the sky,” Heastie told reporters in Albany.
“For us in the Assembly, we always believe in raising revenue.”
Always raise taxes, never make cuts. You are nothing but a human ATM to them.
Assume that Cuomo sees a budget shortfall of $6-9 Billion. That's a pretty heft gap to fill, I know people keep making a big deal out of Amazon and tech companies moving here. I've worked at several tech companies and the actual headcount just not what the media claim to be. Since I work as a Security consultant and the most common question I ask is how many employees are ON SITE. And the actual tally is not that high. I was at one tech company and they have a worldwide headcount of 9,000. In NYC, they have a headcount of only 390-ish and the other offices are simply bigger but the core decision making is in NYC. They have another 2000-ish foreign remote worker population. I don't see tech companies generate as much tax revenue as other industry that hire more on site staff. Even if Amazon is leasing new building here, I doubt they will actually bring 25,000 jobs. More like 5000 tops especially now that Amazon lost the government cloud contract to Microsoft.
Assume that Cuomo sees a budget shortfall of $6-9 Billion. That's a pretty heft gap to fill, I know people keep making a big deal out of Amazon and tech companies moving here. I've worked at several tech companies and the actual headcount just not what the media claim to be. Since I work as a Security consultant and the most common question I ask is how many employees are ON SITE. And the actual tally is not that high. I was at one tech company and they have a worldwide headcount of 9,000. In NYC, they have a headcount of only 390-ish and the other offices are simply bigger but the core decision making is in NYC. They have another 2000-ish foreign remote worker population. I don't see tech companies generate as much tax revenue as other industry that hire more on site staff. Even if Amazon is leasing new building here, I doubt they will actually bring 25,000 jobs. More like 5000 tops especially now that Amazon lost the government cloud contract to Microsoft.
Amazon now will only be bringing about 1,500 jobs over the next few years, not 25k. It will just be a side office, not a main HQ type deal.
The fact that NYS is facing such a huge gap when the economy is good is alarming. What are they gonna do during the next recession?
Amazon now will only be bringing about 1,500 jobs over the next few years, not 25k. It will just be a side office, not a main HQ type deal.
The fact that NYS is facing such a huge gap when the economy is good is alarming. What are they gonna do during the next recession?
They have to take look at their expenses. Big retailers keep dying here when they don't make enough money to offset the high cost of doing business here.
They can't keep giving free away free stuff especially when cost of rents and services are the highest this side of the coast.
My medical cost keeps going up I can't imagine how much the taxpayer is on the hook for medicaid and city's HMO. They claim that ACA and City's own health services saves money but it is giving out the medicaid to 1/3 of the state's population which is still no small number.
If a recession starts in 2021, how do they fund all these expenses as well as pay worker pension and health?
This next recession whenever it is will likely be the destroyer of all sanctuary states.
Can you roll the annuity into your trad ira and then ladder it?
This next recession is going to be worse than the last. Both public and private sectors will get destroyed. Credit bubble, car loan bubble, student loan bubble, housing bubble will all pop at the same time. Govt won't be able to bail out everyone. That bandaid that was thrown on the last big dip will burst wide open. We'll become China's slaves. It's going to be a disaster. Invest in ammo and lots and lots of popcorn.
They have to take look at their expenses. Big retailers keep dying here when they don't make enough money to offset the high cost of doing business here.
They can't keep giving free away free stuff especially when cost of rents and services are the highest this side of the coast.
My medical cost keeps going up I can't imagine how much the taxpayer is on the hook for medicaid and city's HMO. They claim that ACA and City's own health services saves money but it is giving out the medicaid to 1/3 of the state's population which is still no small number.
If a recession starts in 2021, how do they fund all these expenses as well as pay worker pension and health?
This next recession whenever it is will likely be the destroyer of all sanctuary states.
Stuff is about to hit the fan regarding Medicaid, big time!
Am waiting to see how Fredo's big brother wiggles his way out of this budget mess.
Every Medicaid recipient in NY should be charged $100 per family member per month as a health insurance premium. It is a small enough figure to pay, but likely high enough to solve the funding problem. NY (and particularly NYC) already has punishing taxation - so no reason why it shouldn't have a punishing Medicaid too.
Every Medicaid recipient in NY should be charged $100 per family member per month as a health insurance premium. It is a small enough figure to pay, but likely high enough to solve the funding problem. NY (and particularly NYC) already has punishing taxation - so no reason why it shouldn't have a punishing Medicaid too.
Just as Obama expanded Medicaid if the Democrats win in 2020 they will set up a socialized medical system just like Canada, European nations, and Australia.
You’re way behind the political times of the US and especially NY, where no Republican has any change at state wide office.
So at least some of that tax burden will be federal.
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