Comments
Zuggsly t1_ja2oarl wrote
Ooop!
Grass8989 t1_j9u03oh wrote
“One area the city will continue to spend is on schools, after a law signed by Gov. Kathy Hochul last year mandating fewer kids per classroom across the five boroughs will boost Department of Education spending by at least $1.3 billion annually, according to DiNapoli.
The state’s class reduction goal will also require the DOE to hire 7,000 extra teachers, despite staffing shortages and lower student enrollment numbers.”
But reddit told me that the DoE was “defunded”.
drpvn OP t1_j9u2ocu wrote
Right, schools have been “gutted.”
user_joined_just_now t1_j9xgs1l wrote
Fun fact: from FY 2016 to FY 2021, according to figures from the New York City Independent Budget Office that have subsequently been adjusted for inflation, DOE expenditures have increased 14%, while NYPD expenditures have decreased 8% (although to be fair, if we looked at FY 2020 instead of FY 2021, it would be an increase of 6%).
Sources:
https://ibo.nyc.ny.us/RevenueSpending/nypd.html
https://ibo.nyc.ny.us/RevenueSpending/doe.html
Note: If you're thinking of larger numbers like $11 billion and $38 billion, those numbers most likely include benefits and other spending that aren't included in the IBO numbers, which were used for convenience and consistency. However, I'd be surprised if this trend didn't hold even after those benefits were accounted for.
jonnycash11 t1_j9tv40h wrote
Hopefully he and his team of advisors will come up with a plan…
Sunbound_Down t1_j9v120u wrote
The plan is to screw City workers while not even begin to make a dent in this deficit
C0NEYISLANDWHITEFISH t1_j9vj9tl wrote
Even though the excess in pension contribution returns is actually a surplus for the city.
[deleted] t1_j9u2him wrote
[deleted]
Zuggsly t1_ja2ocrf wrote
He’s too busy driving his Prius on the sidewalk to notice
dust1990 t1_j9urrij wrote
The Tax Rate Is Too Damn High
https://www.tax.ny.gov/data/stats/tax-facts.htm#expanded-content-menu2
They overtaxed the Golden Goose (aka the wealthy). So they're slowly leaving.
WickhamAkimbo t1_j9v8fbp wrote
I'm pretty much anti-progressive and have been taxed at some of the higher brackets in the city, and I don't think the high tax rate is really to blame. I think pandemic shutdowns and fear of getting sick drove a sort of self-sustaining exodus out of the city. I also think it's likely temporary, though it could take years to reverse. The city is just too powerful and attractive culturally, with San Francisco and LA coming in a distant second. People saw an opportunity to get a break from the overcrowding and the rat race here, but there's really no comparison to New York culture in North America, _especially_ at the very top end of luxury and wealth. NYC only has a couple of competitors globally for that kind of culture.
dust1990 t1_j9va7sm wrote
I agree with that. But the wealthy can afford to live here up to 182 days per year without having to pay a cent in income tax. Lower the rates so they're not incentivized to do that domicile dance and you likely could make them a full-time, income tax paying resident spending money in the city.
WickhamAkimbo t1_j9vffqe wrote
Probably makes more sense to just change the law to tax them on a prorated basis based on residency, with maybe a 2-month minimum required for tax purposes. Again, they want to be here for cultural and economic reasons. The advantage is in the city's favor and the rates seem reasonable given that. A short-term tax break could help lure some of these people back faster though.
dust1990 t1_j9vlyyl wrote
That would likely get struck down as unconstitutional. It would raise a host of issues: due process, privileges & immunities, equal protection, commerce clause.
b1argg t1_j9v9xf8 wrote
the brackets aren't very different either. The middle class gets soaked.
the_real_orange_joe t1_j9w5aaw wrote
Albany is a problem, but so is the amount of graft we have. The MTA is fraudulently overstaffed (I saw 5 people supervising 1 power washer yesterday, and have you ever needed to speak with someone at the ticket counter). Basically the entire police force commits overtime fraud, and the publicly funded non-profits basically just pour money into the hands of administrators (the NYT profiled a guy who was making $1M/year on contracts valued at $30M). We need a though anti-corruption investigation into the city, but we'll never let that happen thanks to the way local politics work.
slowteggy t1_j9xdign wrote
Yeah, whoever gets hired for that job would probably wind up missing within 24 hours.
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the_lamou t1_j9tvup5 wrote
Well, maybe if Albany didn't keep stealing all the cash out of the till and then acting like we were the entitled ones when we asked to keep our money local, we wouldn't be having these issues.
NYC and it's immediate suburbs basically keep the state afloat.