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It's no surprise rich people pay, by far, the most taxes, since they make a great deal of income, leaving everybody else in the dust. Cut taxes by one half for rich people and they would still have to pay the most taxes. They and their conservative friends would still complain they pay too much taxes.
Cuomo also says he promised wealthy New Yorkers that he’ll personally make sure New York City Mayor Bill de Blasio pays closer attention to the city’s rising crime rate: “We’re going to make progress helping the homeless. We’re going to clean up the graffiti. We’re going to fix crime.”
I did something similar when I left Georgia. I emailed my Governor how much in Georgia state income taxes (6% of gross wages) I paid for the last 3 years, and told him this is why I'm moving myself and my company to Florida.
I also emailed my County commissioners my property tax bills and company's occupational tax bills from the last 3 years, & told them that is why I was leaving.
I told them all that I was a 50 something year old top 2%'er who would earn and spend millions more over the next ~30 years, & they were losing out on all of those taxes, & job creating commerce.
Never heard back from any of them, (just auto replies) but I'm still glad I did it. Georgia's losing hoards of affluent residents to Florida, similar to New York. Once your kids leave the nest..POOF!...you leave, and take all your wealth with you, and future income & spending.
I was paying more in taxes than many people make. One year, the total was nearly 70%. No more!
same here i was so tired of the taxes and fees and the fact the stealer state and federal governments took routinely 55-60% of what i made- i voted with my feet too
maybe cumo finally figured it out - its our money -not his and we want to decide how its spent and how much
what in the hell is going to happen if biden wins? thank god i just i am done and retired and took my 7 figures 401k and SEP accounts to a state with no income tax-
Where are the usual suspects that claim that high tax rates don't actually cause the rich to move out of a state....or more importantly to just establish residency somewhere else like Florida?
It's no surprise rich people pay, by far, the most taxes, since they make a great deal of income, leaving everybody else in the dust. Cut taxes by one half for rich people and they would still have to pay the most taxes. They and their conservative friends would still complain they pay too much taxes.
I think the important distinction is that no matter how much in taxes the rich or even the middle class pays, the left bleats it is never enough.
GEEZ! I left Georgia because my property tax bill was $9,200. The rate of increase was zany...it went from $6,000 to $9,200 in 3 years, and that was with us disputing it 2X in 3 yrs...unsuccessfully the 2nd time.
I know of people who were paying $30,000 in New Jersey, and they couldn't sell their home at any reasonable price for over 2 years, due to the high tax rate, so they walked away from it and any equity they had in it. It was first listed at $1.2M, & they gave up when they couldnt sell it at $800k; and walked away.
Much of all of this is due to unsustainable government worker pensions, and crazy high compensation packages. The gov't keeps paying themselves more and more money, more vacation days, allowing accrued vacation year after year, high raises each year outpacing inflation, more sick days, & floating days, earlier retirement ages, its gov't stealing from taxpayers unchecked. The Teachers in their town were making $100K+...teaching is a part time job up there with all the time off they got after just a few years.
GEEZ! I left Georgia because my property tax bill was $9,200. The rate of increase was zany...it went from $6,000 to $9,200 in 3 years, and that was with us disputing it 2X in 3 yrs...unsuccessfully the 2nd time.
I know of people who were paying $30,000 in New Jersey, and they couldn't sell their home at any reasonable price for over 2 years, due to the high tax rate, so they walked away from it and any equity they had in it. It was first listed at $1.2M, & they gave up when they couldnt sell it at $800k; and walked away.
Much of all of this is due to unsustainable government worker pensions, and crazy high compensation packages. The gov't keeps paying themselves more and more money, more vacation days, allowing accrued vacation year after year, high raises each year outpacing inflation, more sick days, & floating days, earlier retirement ages, its gov't stealing from taxpayers unchecked. The Teachers in their town were making $100K+...teaching is a part time job up there with all the time off they got after just a few years.
Similar for areas around Chicago. I know people who live in a suburb 30 miles outside Chicago and they pay over $8k in property taxes a year for a 1400 square foot house. That is the definition of insanity. Now way would I live there. They get free nothing, not even school. They have tons of fees to go to the public schools. These small governments have gone way overboard with their programs.
30K? That must have been one heck of a house.
Pensions are a HUGE HUGE part of the equation.
Some of the above you mention are few workers. Sick pay is capped at 15K for 99% of workers. Yes crazy, now only the true elite get more. Yes it should be lower and 100% should be capped at say 2 weeks, but the police chiefs and superintendents wield ENORMOUS power. Few teachers make 100K. 60K-70K is the norm and benefits have declined quite a bit from say 15 years ago.
No I am NOT saying NJ is a good example of much of anything but good SAT and ACT scores, but the quoted is an exaggeration of outliers.
That cap is pretty recent.
Up until then police, as one example, could cash out unused vacation/sick/paid time days that they accumulated over their entire careers at their current rate of pay.
A buddy of mine who retired as a $150,000 /yr, with a take home car, police captain was royally pissed when they capped it before he could get in on the boondoggle.
Then there's the school superintendents who had these huge golden parachutes in their contracts.
They really hit the mother lode of taxpayer funds.
As far as good ACT and SAT scores, NJ is no different than any other state. The good schools are in the predominately white collar neighborhoods.
The worst schools suck up the lion's share of funding.
Remember when it came out that Asbury Park, a failed district by any metric, blew through......drum roll please......$41,000 per student.
That's more than I paid per year for my son's Rutgers and Rowan University education (he graduated in '19).
There's even more stories regarding tax money chicanery but that's a topic for another thread, I guess.
The four public school teachers I know personally were over $90k. Two hightailed out of NJ because of the taxes, LOL!!!!!!
The problem with the pensions, is these workers were promised that, so they deserve it. It's not their fault their leaders over promised. The cities are just over spending in every area they can. It needs to end.
The Fredo nickname only resonates with senior citizens. Next time try to come up with a meme that is referencing something less than 40 years old.
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