Hello monkeys!
Was reading this article on Bloomberg and remembered reading around on WSO on how bad the New York subway was.
Here's the important stuff from the article and I think it touches on many important issues of today's society:
New York Mayor Bill de Blasio, a Democrat seeking re-election this year, proposed a tax on the wealthy to pay for repairs to the city’s deteriorating subway system.The plan would increase the city’s highest income-tax rate to 4.41 percent from 3.88 percent on earnings above $500,000 for individuals and $1 million for couples. The move would affect about 32,000 people and raise as much as $800 million a year, de Blasio said Monday.
Most of the revenue would go toward fixing a mass-transit system that has been plagued in recent months by breakdowns and delays, contributing to the first decrease in ridership in more than 20 years.
Considering the fact that some of the individuals affected would be on WSO, what do you monkeys think of this tax? Is it worth it?
I think it's bullshit that liberal politicians view wealthy individuals as a personal ATM, but something must be done about the dilapidated NYC subways. The thing that pisses me off most about every tax proposal to fund something is statements like:
"Most of the revenue would go toward fixing a mass-transit system that has been plagued in recent months by breakdowns and delays, contributing to the first decrease in ridership in more than 20 years"
If you're raising taxes for a single agenda, every last incremental tax cent should be allocated for the goal. Not just * most * of the revenue. Honest question: why can't the municipal government set up a giant NYC subway escrow account to ensure that tax funds are 100% fully allocated to their target project?
Because the MTA is run by the State of New York, not the City of New York.
That's fine. The state should establish an escrow account. I think the same principle should apply to federal taxes too. I'm sick of the government running at a deficit due to the inability to manage / allocate funds appropriately, and then coming back with their hand out for more. If vast, multinational conglomerates can balance a budget, there is no reason (outside of bureaucracy and waste) the government on a state or federal level can't.
Also, I full heartedly agree that the people impacted aren't on here and that this tax is a BS idea.
Gonna fix this
NYC and NYS have some of the highest taxes in this country. I mean at what point is it enough.
And this tax isn't going to do shit. New tunnels are needed. Major repairs. Additional lines.
Shit - NYC has third world airports (and that's insulting the 3rd world). How the richest and most taxed city can have such crap blows my mind.
Tax the super wealthy, whatever. But don't pretend like this is going to actually bring about real change.
For all those wealthy New Yorkers on here: how many of you actually use the subway and how many Uber everywhere?
I ride the subway. It gives me just the right amount of anger to get through my day.
Not bad. I guess if it's good enough for Keanu it should be good enough for everyone else.
Getting across town (say UES to Chelsea), the subway is much faster.
Let's just say that 800 million will likely be less than 100 million in reality when all of the rich guys move to Conn.
lol conn is broke bc ppl already got out of that hell hole.
http://www.ctnewsjunkie.com/archives/entry/up_next_a_3.5_billion_budget…
http://www.courant.com/community/hartford/hc-hartford-sp-junk-bond-down…
all these brilliant finance ppl have no clue wtf theyre doing lol
New Jersey is the new Connecticut haha.
Out of curiosity, how do people on this forum propose financing these major expenditures since the wealthy are paying 'too much'
Make everyone pay for it, stop targeting the rich/successful. I know its good politics for DeBlasio though...
Just increase the fare. Why are some individuals being singled out to pay for something they probably don't even use? Its seems so arbitrary.
This or increase sales tax. Targeting the "rich" will only see the "rich" continue to say F this and move to CT/LI/NJ.
I don't personally agree, New York already has one of the highest monthly fares out there. Also, the rich may not use, but they do benefit indirectly. Studies of economic impacts of transit systems on society point undeniably in this direction (imagine impact of no subway system on city). Lastly, don't think raising fares would help poor people's plight.
Have you ever considered the idea that the government wastes most of the money it extorts from taxpayers? Why are people always so quick to white-knight for the government when it's clear they're so fucking incompetent they can't even run a train system properly? Not that this should surprise anyone, of course...
You rob the people with money. Cause that is what taxation is. Robery by gun point.
Now we all pay taxes because we enjoy law, police, fire, roads, etc. My issue is with waste and lying.
This tax will do shit. And NYC is already so expensive that it is pushing most people out.
How about you tax the savings banks aka empty luxury apartments that foreigners buy? They site there as a store of value, contributing no sales or income tax, providing no apartments or anything to actual New Yorkers.
But delasio is a moron and would never bite the hand that feeds him. So people will move and NYS will continue to see an outflow.
And let's all be real. Anyone that gets hit with this tax will have an apartment, but "live" elsewhere. So unless you increase sales tax, you won't get much.
Just like the soda tax. Just like cigarette taxes. Just like all the other shit.
I'd love to see a solution from liberals that didn't include more taxes. How about finding a cheaper way to operate the subway. Or build additional tunnels. Or make due with less
http://gothamist.com/2010/06/04/mta_salaries_like_239148_for_a_cond.php
"I'd love to see a solution from liberals that didn't include more taxes. How about finding a cheaper way to operate the subway. Or build additional tunnels. Or make due with less"
This. Big government people won't understand.
As for DeBlasio, this: http://nypost.com/2017/08/07/de-blasio-naps-on-his-office-couch-after-w…
"I'd love to see a solution from liberals that didn't include more taxes. How about finding a cheaper way to operate the subway. Or build additional tunnels. Or make do with less"
This 100%. People arguing on here that increasing taxes on the rich is "okay" and they're fine with it - its not their money so who cares? Everything is a money grab with them. When does it end? And I agree, this tax will do NOTHING to help the situation. Do you realize how expensive it will be to fix the subway, will cost many many Billions, and would require a tax on everyone. But hey, DeBlasio has never seen a tax he didn't want to levy on the wealthy, plus its an election year so it will sound great!
You rob the people with money. Cause that is what taxation is. Robery by gun point.
Now we all pay taxes because we enjoy law, police, fire, roads, etc. My issue is with waste and lying.
This tax will do shit. And NYC is already so expensive that it is pushing most people out.
How about you tax the savings banks aka empty luxury apartments that foreigners buy? They site there as a store of value, contributing no sales or income tax, providing no apartments or anything to actual New Yorkers.
But delasio is a moron and would never bite the hand that feeds him. So people will move and NYS will continue to see an outflow.
And let's all be real. Anyone that gets hit with this tax will have an apartment, but "live" elsewhere. So unless you increase sales tax, you won't get much.
Just like the soda tax. Just like cigarette taxes. Just like all the other shit.
I'd love to see a solution from liberals that didn't include more taxes. How about finding a cheaper way to operate the subway. Or build additional tunnels. Or make due with less.
The irony is that most of the other people I know who make that money barely ever use the subway. Extremely unfair.
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