City officials are considering an increase in the city’s personal income tax as they confront multibillion-dollar budget gaps in coming years, Council Speaker Christine C. Quinn said on Wednesday.In remarks to the Citizens Budget Commission, a nonprofit civic association, Ms. Quinn said that even after the city rolls back a 7 percent property tax cut it enacted last year and agencies fulfill budget cuts ordered for this fiscal year and next, the city would still have not raised enough to bridge a $5.2 billion gap projected for the 2011 fiscal year — a figure that does not take into account the effects of the worldwide financial crisis.
“Hopefully, we’ll be able to find some stuff through creative, different ways, but the truth is, some of it will have to come from tax increases,” Ms. Quinn said.
City Said to Explore Rise in Personal Income Tax
Hey if only we didn't give huge tax breaks to developers, weren't paying for 3 new stadiums we don't need, weren't trying to develop new residential neighborhoods where there are none now, driving viable businesses out, then maybe, just maybe we wouldn't need to do this! But Christine and Mike have known better all along what's best for us. Like extending term limits. According to them, what's best for us in this sagging economy is to pay more out of our pockets for more of the same.
FOUR MORE YEARS!!! FOUR MORE YEARS!!!
12 comments:
HOW ABOUT REMOVING TAX ABATEMENTS
& EXEMPTIONS TO DEVELOPERS?
C'MON MAYOR MIKE...THE FINANCIAL "GENIUS"...WHAT WILL THAT SAVE NYC?
WE NO LONGER NEED TO OFFER THEM ANY INCENTIVES TO BUILD!
THERE'S ALREADY A GLUT ON THE MARKET!
BUT IF I'M GOING TO CONTINUE FUNDING DUMB ASS PROJECTS LIKE WILLETS POINT & THE ATLANTIC YARDS VIA MY TAXES....WHAT'S MY PERCENTAGE OF THE PROFITS?
OH I SEE...THOSE ARE RESERVED FOR YOU WEALTHY GUYS!
I agree with the anonymous screamer, above!
"Read Quinn's lips: Here come new taxes!"
Those words from Quinn are printed like a ribbon around the Commissar's peenee.
Just asking: Is the Commissar's Peenee just like his face? Look like a turtle?
Quinn?
Just saw Charles Barron have some balls and tell off bloomie at the meetings.Pretty heated.Then of course some lap dog in a yamica scolded Barron as though he was the only one who is upset with bloombergs law breaking nonsense.Then Vallone backed down and said Barron was out of line.
This site is now agreeing with the nutjob and stupid statements of Charles Barron. What a joke.
Maybe if it weren't for all the recent development, the city would be in catastrophic shape with a reduced amount of business and economic activity. NYC is actually in better shape than any other big city in the country right now, due in large part to Bloomberg.
"This site is now agreeing with the nutjob and stupid statements of Charles Barron. What a joke.
Maybe if it weren't for all the recent development, the city would be in catastrophic shape with a reduced amount of business and economic activity. NYC is actually in better shape than any other big city in the country right now, due in large part to Bloomberg."
An argument neither stands nor falls based upon whether different people agree or disagree with it.
An argument has its own intrinsic merit or lack of merit.
If we voted to impose term limits - twice - then, why do the council and the Commissar believe it is lawful to stomp on our law?
If we are to depend on the Commissar to thrive, then is it true that he must NEVER leave?
If there is some value the Commissar offers, why did he remain silent when the signs were there for Titans to spot and warn people of the impending doom?
Does the Titan of Commerce (Commissar for short) have a financial stake in staying? Is it our job as citizens to insure that the Commissar is always wealthy? Is the Commissar's wealth at risk if he obeys the law and leaves? Does he have dirty deals that he wants kept secret?
Does this anonymous writer have no skepticism of a politician? Oh, yeah! He/she doesn't like Barron, but worships his Commissar.
We need the Commissar and all his spineless worshippers to go away. We prospered long before him and them, and will do so long after their departure.
Go away!
The "developers" were building a precarious house of cards that's now tumbling along with some very big egos and stock portfolios!
They over extended and over developed...force feeding their empires like a Strasbourg Goose
until it burst!
They overestimated the size of their financial manhood and did not come up to measure in the final analysis.
Try running some "clearance sales"
to unload your overstocked shelves of "luxury" buildings!
Welcome to the common world of retail sales!
You're no longer emperors
(hardly even kings) of real estate any more!
NYC will survive. It's merely going through a period of adjustment
from an overinflated real estate market back to one that's more in line with reality.
You "big builders" will just have to get used to lowering your expectations like the rest of us folks.
See if you can get a refund
of your down payment for your new yacht.
I think that New York
will eventually become more affordable for the average middle class family in the market for housing (if they hang on a bit) due to the adjustment that's going on in the marketplace.
As soon as "this mayor" goes too!
It'll be tougher on you swelled headed real estate moguls trying to pass off shoddy condos at
inflated prices.
But you can take your lumps along
with the rest of us now!
Economize by serving Salmon eggs at your next soiree instead of your usual Beluga caviar.
There are normal, cyclical "fluctuations" in any marketplace.
The balloon has burst and this has been one of them1
The wealthy of NYC
are better off under Bloomberg.
The rest of us are getting a royal kick in the ass from "hizzoner"!
The CAU must have been given orders from their pint sized despot to boost his image.
They're posting with great regularity!
Hello Natzli!
All the BS in the world can't raise the dropping numbers of faltering investments!
Do your best "Parkside", CAU
and the rest of you PR hype-sters!
Words can't equal cash.
You've had your day now take a nap!
so glad to be leaving the city soon. sick of being bled dry with taxes to prop up a shitty nanny state.
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