NYC: facing bankruptcy?

[TexasFreedom]

https://nypost.com/2019/03/09/new-york-city-is-edging-toward-financial-disaster-experts-warn/?amp

Wow. Read it for quite a few details. Things like the long-term city debt per household is $81k (that's like adding a new mortgage for most people). NY State and NYC are ranked #1 in oppressive tax burden. But the evil 1 percenters pay 50% of the taxes in NYC...

So THANK YOU SALT! Trump's "State and Local Taxes" (SALT) limit of $10k per tax filing is causing lots of the evil 1%'s to leave NYC, and now NYC is realizing that saying 'good riddance' to 1%'ers also means saying adios to 50% of their tax income... oops!

Or as Trump says... "Winnning"! Yes, I said that. Let's let liberals collapse under their own stupidity and welcome the wealthy to conservative states with modest taxes.

Now I don't think NYC is really going to file bankruptcy. But it is a sign that they are feeling the hurt and you can bet it will affect elections.

 

[DrHenley]

And I'm sure they think it's OUR fault for not subsidizing them through tax write offs.

 

[TexasFreedom]

Doc, depends on who you mean. For most of the wealthy, I don't think they're blaming Trump/conservatives at all, they're simply moving out of high-tax states for their home address and their lives go on. Now Liberals... I suspect they 100% blame this on Trump/conservatives. Didn't you know that it is a RIGHT to have other people pay for the taxes they otherwise would owe?

 

[Brent S]

Partisan bickering aside, what is scary is that the vast majority of our city, county and states are in debt up to their eyeballs. This isn’t just a federal problem. It’s a ‘it’s too damn easy to waste other people’s money’ problem.

 

[Mountain trapper]

Partisan bickering aside, what is scary is that the vast majority of our city, county and states are in debt up to their eyeballs. This isn’t just a federal problem. It’s a ‘it’s too damn easy to waste other people’s money’ problem.

That's how politicians get elected, and reelected. They all promise to give everyone free stuff and that government is the answer to every problem. Both parties are guilty of this. Unfortunetly nobody will vote for a person that truly cares about fixing the real problem; too much government.
Politicians make me sick.

 

[Maverick]

Let me see, New York high taxes are off set by the Feds through non NY citizens giving relief to the one's that live in and pay the NY high taxes. So, Trump comes along and say's 'why does Texas citizen have to ease the burden for New Yorkers to live in New York' and ends this crap but yet Trump is accused of raising NYers taxes. No wonder the Mafia loved New York!

Ok, I simplified but that is what it boils down to.

 

[KateMTx]

https://nypost.com/2019/03/09/new-york-city-is-edging-toward-financial-disaster-experts-warn/?amp

Wow. Read it for quite a few details. Things like the long-term city debt per household is $81k (that's like adding a new mortgage for most people). NY State and NYC are ranked #1 in oppressive tax burden. But the evil 1 percenters pay 50% of the taxes in NYC...

So THANK YOU SALT! Trump's "State and Local Taxes" (SALT) limit of $10k per tax filing is causing lots of the evil 1%'s to leave NYC, and now NYC is realizing that saying 'good riddance' to 1%'ers also means saying adios to 50% of their tax income... oops!

Or as Trump says... "Winnning"! Yes, I said that. Let's let liberals collapse under their own stupidity and welcome the wealthy to conservative states with modest taxes.

Now I don't think NYC is really going to file bankruptcy. But it is a sign that they are feeling the hurt and you can bet it will affect elections.

I don't know that people will be happy though because some of those wealthy vote for and fund liberal causes, and I'm not sure they will have learned from this experience.