N. Y. Has received an enormous financial blow. Is Congress doing enough??

[KittyHawk]

Is this $2 trillion basically printing money?

I"m trying to get my old brain around it.

I'm not sure how much is printed anymore. Much of it is probably a digital transaction. I read years ago that when the Fed wants money they get it from Treasury at the cost of printing. They then sell it back to the government at face value. If that is true it is one of histories great scams. Possibly there is someone on board with some actual knowledge who could clarify that.

 

[feetguy1]

Isn't this simlar to late 70s when NYC was going broke, asked the Federal Government for help and Gerald Ford told the city to basically figure it out on their own? Im a NY'er and Im tired of midwestern states not paying anything and feeling like Im contributing but not getting the help we need when its necessary (Hurricane Sandy for example)

To be frank, places like New York and California are top 5 in contributions to the US GDP/Federal Government so I think we should get a majority of what ever money we need with out any questions, specifically in a time like this. Because bear in mind that what ever money is given to companies during this time wont come with any meaningful restrictions or stipulations either (i.e. 500 Billion slush fund).

I also I don't mind paying taxes because in theory we all live in a society and should contribute in whatever way we can (education, sanitation, urban developement/roads etc.). Perhaps I am not taking advantage of a service my taxes are going to but perhaps I will in the future or a friend/family member/fellow citizen currently will.

The Hurricane Sandy situation came to my mind as well. In reality, the rich States support the poor States. The progressive States support the idle States.

 

[BVBV]

California has the most welfare recipients about 33% at last check.

 

[Porkchop]

According to the article NY is among only 7 states that pay more than they give. 43 other States get back more than they pay.

Idk where you live but we get taxed ridiculously. Granted part of the problem comes from NY taxing us too much.

However the cap in property tax and other caps have hurt many NYers. My property tax is only $9k. However other people ik pay property tax of $15k + and dont get that deduction like they used to. As well as other taxes that were changed that don't effect me. Because i'm not in that tax bracket.

Bergen County NJ. Pay over $14000 property tax.

 

[Porkchop]

I feel for NYC, it seems basically out of control and the city will be in peril for a very long time. With that said, and as someone else said- it's tough to feel for them, the tremendous waste for years and years on stuff like sanctuary policies to name just one. Idk, this one is sort of tough. I would say for the behalf of the people who didn't ask for this perhaps they need more, but I would want some serious documentation on how and where the funds would be used, otherwise it will likely just get floundered at some point with the Democrat cesspool of waste and corruption

They voted that a ahole DeBlasio and Cortez into office. They made their bed, let them lie on it.
Find out where DeBlasio wife spend almost 1 billion dollars and nothing to show for it.

 

[feetguy1]

California has the most welfare recipients about 33% at last check.

That's because California has the highest population. It all relative. I don't know where you got 33%. I thought that percentage is too high. It's more like 9% in California. In Tennessee, although the population is low compare to California, the percentage of welfare recipients in Tennessee is 13%. It's all relative. I like to know what source you saw the 33% in California?

https://worldpopulationreview.com/states/welfare-recipients-by-state/

https://worldpopulationreview.com/states/

 

[njlefty]

The last Federal Tax Bill achieved a wealth transference to a great degree.

That sucking sound you heard was money coming out of New York and Connecticut and heading to Kentucky and South Carolina.

 

[BVBV]

Yes it is the most populous but they also have 33% of the nations welfare recipients. Big income inequality there.

 

[Koondog]

When I was in Philly in a small row home it was $400/year.

As it should be.

 

[feetguy1]

Yes it is the most populous but they also have 33% of the nations welfare recipients. Big income inequality there.

Where did you come up with the 33%? Do you have factual sources?

 

[Koondog]

Bergen County NJ. Pay over $14000 property tax.

OBSCENE!!!

 

[Uniquelyme]

The last Federal Tax Bill achieved a wealth transference to a great degree.

That sucking sound you heard was money coming out of New York and Connecticut and heading to Kentucky and South Carolina.

NJ was in there a bit also..

 

[SingleMalt]

There's a few issues that probably needs clarification:

1. If you hate NY taxes, then you really need to participate more in your local government and state government. State governments create a lot of regulations and they ignore the cost that it forces on taxes. Towns are the ones that end up with the bill for every law thats passed. Your local board of ed is your single greatest cost and most dont even know where they meet.
2. NJ does not have the highest taxes in the country. NJ is the only state that forces local government/municipalities to collect taxes on behalf of the county, school, fire districts and etc. Most people get sticker shock at the property tax bill, until they realize that living in other states basically pays similar taxes once you add the schools and whatnots into your total bill. Long Island is a great example. They separate their tax bills, where the school portion is 12k and the local portion is less than half that. Southern states or less populated states don't have local municipalities and may just have county governments. Their taxes are lower because their public servants or government workers are paid less and they offer less services. There's a reason why you need more guns in certain areas for protection. Ironically, Americans love socialism. I.e., social security, medicare, state redistributions, etc etc. We just hate being called socialists.
3. As for schools, I'd say the vast majority of Americans attended public school. The range goes from as low as 7k to as high as 22k if we average everything out by state. The median is somewhere around 14.5k probably. If you've ever attended public school, then you basically have nothing to complain about and its a bit embarrassing if we do. I am a product of public education and I came out pretty financially successful. I can't really complain about paying for schools because someone else did the same for me. If you were the product of private education, then congrats on having parents that had the ability to do that and you chose to opt out of a free service that was provided for you. As a sidebar, most americans are basically screwed without public education. Look at the current state of affairs when schools are closed. At worst, you're getting free daycare and keep kids off the streets from doing stupid shit because they're kids. At best, you developing people to give you jobs. That does no mean that the system isn't pretty stupid currently. The majority of schools need to be regionalized because most places don't have enough kids to support a school for their town alone.
4. Major metro or coastal states have always subsidized everyone else. It'd be a wonder if people in the bread basket and the south stopped getting that "social redistribution" of monies. The irony of most Red states that complain about socialism is that they're the beneficiaries of socialism in the US. Corporations are the great beneficiaries of all through US socialism. The words we use change depending on the recipient. These bailouts are mostly a terrible long-term decision. It's okay for the short-term but your basically allowing shit companies to be okay with being shitty. You'd be better off spending that money on infrastructure projects and redeploy the boeing employees into those projects. They had a huge market pop because they were loaned assbuckets of money to a company that still cant make good planes. Not exactly smart.
5. The problem with government is really at the end of the day - lack of participation. The US is a participatory system. If you aint participating at every level, then you cant complain but you dont matter. If everyone like Koon without kids and hate paying taxes for schools got together and agreed to live in one place with no kids, then guess what? No taxes for schools. You just saved 12k. I've been in both public and private sectors for decades to see the problems from different angles.
6. Lastly, while I never liked cuomo or blasio. They're not wrong when they're asking for more aid. NY and CA are the states that are going to get hit the worst they should get the most money. Its like sending money to UT for 9/11. But, thats not how the political map works.

 

[Earnest53]

There's a few issues that probably needs clarification:

1. If you hate NY taxes, then you really need to participate more in your local government and state government. State governments create a lot of regulations and they ignore the cost that it forces on taxes. Towns are the ones that end up with the bill for every law thats passed. Your local board of ed is your single greatest cost and most dont even know where they meet.
2. NJ does not have the highest taxes in the country. NJ is the only state that forces local government/municipalities to collect taxes on behalf of the county, school, fire districts and etc. Most people get sticker shock at the property tax bill, until they realize that living in other states basically pays similar taxes once you add the schools and whatnots into your total bill. Long Island is a great example. They separate their tax bills, where the school portion is 12k and the local portion is less than half that. Southern states or less populated states don't have local municipalities and may just have county governments. Their taxes are lower because their public servants or government workers are paid less and they offer less services. There's a reason why you need more guns in certain areas for protection. Ironically, Americans love socialism. I.e., social security, medicare, state redistributions, etc etc. We just hate being called socialists.
3. As for schools, I'd say the vast majority of Americans attended public school. The range goes from as low as 7k to as high as 22k if we average everything out by state. The median is somewhere around 14.5k probably. If you've ever attended public school, then you basically have nothing to complain about and its a bit embarrassing if we do. I am a product of public education and I came out pretty financially successful. I can't really complain about paying for schools because someone else did the same for me. If you were the product of private education, then congrats on having parents that had the ability to do that and you chose to opt out of a free service that was provided for you. As a sidebar, most americans are basically screwed without public education. Look at the current state of affairs when schools are closed. At worst, you're getting free daycare and keep kids off the streets from doing stupid shit because they're kids. At best, you developing people to give you jobs. That does no mean that the system isn't pretty stupid currently. The majority of schools need to be regionalized because most places don't have enough kids to support a school for their town alone.
4. Major metro or coastal states have always subsidized everyone else. It'd be a wonder if people in the bread basket and the south stopped getting that "social redistribution" of monies. The irony of most Red states that complain about socialism is that they're the beneficiaries of socialism in the US. Corporations are the great beneficiaries of all through US socialism. The words we use change depending on the recipient. These bailouts are mostly a terrible long-term decision. It's okay for the short-term but your basically allowing shit companies to be okay with being shitty. You'd be better off spending that money on infrastructure projects and redeploy the boeing employees into those projects. They had a huge market pop because they were loaned assbuckets of money to a company that still cant make good planes. Not exactly smart.
5. The problem with government is really at the end of the day - lack of participation. The US is a participatory system. If you aint participating at every level, then you cant complain but you dont matter. If everyone like Koon without kids and hate paying taxes for schools got together and agreed to live in one place with no kids, then guess what? No taxes for schools. You just saved 12k. I've been in both public and private sectors for decades to see the problems from different angles.
6. Lastly, while I never liked cuomo or blasio. They're not wrong when they're asking for more aid. NY and CA are the states that are going to get hit the worst they should get the most money. Its like sending money to UT for 9/11. But, thats not how the political map works.

Nice dissertation, professor. What was the name of this website again??

 

[SingleMalt]

Lol, I just see my favs utr. I just pop over to their apt and call it a day. a lot easier and safer these days. minimal interaction with the outside world to the best of my ability considering its this hobby lol. denial works.

 

[njlefty]

I remember after 9-11 occurred, all these shitass towns in podunk counties got loads of Federal money to hire cops.

Paid one year salary and that was it. Then the local yokels were stuck with lifetime cops, their benefits, and their pensions.

 

[Thorton]

https://libn.com/2020/01/14/new-york-again-sends-more-to-federal-government-than-it-gets/

N.Y. Has for years paid more than it has received back from the federal government.

Governor Cuomo says N.Y. by the senate bill. Will receive 3.8 billion and they will have a 15 billion dollar hole when all is said and done.

What is your opinion?? Should N.Y. Get more?

Please be civil while discussing.

NY should just use all of the money that they have been stealing by charging $ 19.00 to go over the Verranzano Bridge

 

[charliebrown]

https://libn.com/2020/01/14/new-york-again-sends-more-to-federal-government-than-it-gets/

N.Y. Has for years paid more than it has received back from the federal government.

Governor Cuomo says N.Y. by the senate bill. Will receive 3.8 billion and they will have a 15 billion dollar hole when all is said and done.

What is your opinion?? Should N.Y. Get more?

Please be civil while discussing.

Someone should remind NY how much of the financial bailout NYS received verses the rest of the country.

So need a wider view of government besides what a state pays in taxes verses what they receive. There are rich powerful lobbyist from NY and NJ who sway our government to create laws and regulations to disproportionately benefit those states. In NY, the financial industry controls most of the money in this country and they are skimming a nice portion of it off the top. In NJ there are many drug companies who have successfully kept drug prices extremely high in this country for a very long time. I do not want to start discussing the laws and regulations placed on the farmers in this country for the good of society. It is a complex messy swamp at the federal level. For any individual state in this country to assume they are being treated unfairly in any way, I say BullShit.

When this is all said and done, Every state in the country can go and assess the TOTAL amount of money received from the bill and determine if it is fair or not.
I am pretty sure that Dumb ass is not counting the larger portion of unemployment benefits the package might be giving the state. How about the corporate welfare thrown into the bill? Has Comatose figured out how much of the money NYS corporations will get.

I doubt it, and I doubt anyone who listens to him blabber will just like no one who listens to Trump blabber understands half of what he is saying.

 

[Uniquelyme]

Someone should remind NY how much of the financial bailout NYS received verses the rest of the country.

So need a wider view of government besides what a state pays in taxes verses what they receive. There are rich powerful lobbyist from NY and NJ who sway our government to create laws and regulations to disproportionately benefit those states. In NY, the financial industry controls most of the money in this country and they are skimming a nice portion of it off the top. In NJ there are many drug companies who have successfully kept drug prices extremely high in this country for a very long time. I do not want to start discussing the laws and regulations placed on the farmers in this country for the good of society. It is a complex messy swamp at the federal level. For any individual state in this country to assume they are being treated unfairly in any way, I say BullShit.

When this is all said and done, Every state in the country can go and assess the TOTAL amount of money received from the bill and determine if it is fair or not.
I am pretty sure that Dumb ass is not counting the larger portion of unemployment benefits the package might be giving the state. How about the corporate welfare thrown into the bill? Has Comatose figured out how much of the money NYS corporations will get.

I doubt it, and I doubt anyone who listens to him blabber will just like no one who listens to Trump blabber understands half of what he is saying.

I'm completely with you on 2008. However this is a pandemic. While i agree that the companies should be monitored and frankly Boeing was doing bad way before this pandemic. The airlines with their buybacks and not having money reserves all that profit for several years is wrong.

However im talking about the people not the Millionaires not the Billionaires. The dwindling middle class. No one is saying trust Cuomos math and NY is going to have to see where it can save thats a fact.

In my opinion though if it's 15billion 3.8billion isn't enough.

Lastly what you pay out and what you get back is a pretty good gauge of who contributes more and who contributes less.

 

[Uniquelyme]

There's a few issues that probably needs clarification:

1. If you hate NY taxes, then you really need to participate more in your local government and state government. State governments create a lot of regulations and they ignore the cost that it forces on taxes. Towns are the ones that end up with the bill for every law thats passed. Your local board of ed is your single greatest cost and most dont even know where they meet.
2. NJ does not have the highest taxes in the country. NJ is the only state that forces local government/municipalities to collect taxes on behalf of the county, school, fire districts and etc. Most people get sticker shock at the property tax bill, until they realize that living in other states basically pays similar taxes once you add the schools and whatnots into your total bill. Long Island is a great example. They separate their tax bills, where the school portion is 12k and the local portion is less than half that. Southern states or less populated states don't have local municipalities and may just have county governments. Their taxes are lower because their public servants or government workers are paid less and they offer less services. There's a reason why you need more guns in certain areas for protection. Ironically, Americans love socialism. I.e., social security, medicare, state redistributions, etc etc. We just hate being called socialists.
3. As for schools, I'd say the vast majority of Americans attended public school. The range goes from as low as 7k to as high as 22k if we average everything out by state. The median is somewhere around 14.5k probably. If you've ever attended public school, then you basically have nothing to complain about and its a bit embarrassing if we do. I am a product of public education and I came out pretty financially successful. I can't really complain about paying for schools because someone else did the same for me. If you were the product of private education, then congrats on having parents that had the ability to do that and you chose to opt out of a free service that was provided for you. As a sidebar, most americans are basically screwed without public education. Look at the current state of affairs when schools are closed. At worst, you're getting free daycare and keep kids off the streets from doing stupid shit because they're kids. At best, you developing people to give you jobs. That does no mean that the system isn't pretty stupid currently. The majority of schools need to be regionalized because most places don't have enough kids to support a school for their town alone.
4. Major metro or coastal states have always subsidized everyone else. It'd be a wonder if people in the bread basket and the south stopped getting that "social redistribution" of monies. The irony of most Red states that complain about socialism is that they're the beneficiaries of socialism in the US. Corporations are the great beneficiaries of all through US socialism. The words we use change depending on the recipient. These bailouts are mostly a terrible long-term decision. It's okay for the short-term but your basically allowing shit companies to be okay with being shitty. You'd be better off spending that money on infrastructure projects and redeploy the boeing employees into those projects. They had a huge market pop because they were loaned assbuckets of money to a company that still cant make good planes. Not exactly smart.
5. The problem with government is really at the end of the day - lack of participation. The US is a participatory system. If you aint participating at every level, then you cant complain but you dont matter. If everyone like Koon without kids and hate paying taxes for schools got together and agreed to live in one place with no kids, then guess what? No taxes for schools. You just saved 12k. I've been in both public and private sectors for decades to see the problems from different angles.
6. Lastly, while I never liked cuomo or blasio. They're not wrong when they're asking for more aid. NY and CA are the states that are going to get hit the worst they should get the most money. Its like sending money to UT for 9/11. But, thats not how the political map works.

I agree with every point you made.