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i think it is a bad idea
but i do agree it won't fund the wish list/budget
i predict his reign will produce huge cost overruns
bundle that with decreased revenue
unfortunately for the people involved an eventual reality of unsustainabilty will intervene
bad economics and it won't be pretty
the question: who will he blame for his failures?
I still think these types of strategies could be a good idea, but not when its applied only locally.
Also, what is the tax rate? These havent been announced yet, but apparently it will raise ~$500m from ~13,000 properties valued at over $5m. So thats about $38K per property.
If we assume an average property value of $5M - $10M, thats a rate of 40-75 bps.
The alternative is to move/sell the property...but that costs 6%-7% of the value in NY.
It might also lower prices
NYC has no mechanism for running a deficit, so it's not that he'll be spending money he doesn't have (see: Federal Gov't), he won't deliver the programs promised.
When that happens, the financial overloads protecting their piles of money are to blame.
Sorry...my sarcasm didn't come through. I'd be shocked if half of the tariffs get refunded...and most of that will likely be some kind of fraud enabled by a half-assed system created by the idiots in the current administration and the cronies they paid to built the site.
Missed the sarcasm. You are right about the disaster of a system. We are looking in to it, but our direct tariff costs are probably around $15K. It's enough to try it, but it will be further hassle. What we will never see it the indirect costs, prices that were raised to us, but will be refunded to the original importer. Also not refundable, the few hundred or so hours we spent dealing with this shit over the last year, the jobs lost because battery costs jumped beyond what the customer had budgeted, and the monumental fuck up of relationships with a FREINDLY country a 100 miles North.
i think it is a bad idea
but i do agree it won't fund the wish list/budget
i predict his reign will produce huge cost overruns
bundle that with decreased revenue
unfortunately for the people involved an eventual reality of unsustainabilty will intervene
bad economics and it won't be pretty
seems like a good idea, but not sure its going to "fund" all things he wants.
wondering if this has to be approved by the gov?
i think it is a bad idea
but i do agree it won't fund the wish list/budget
i predict his reign will produce huge cost overruns
bundle that with decreased revenue
unfortunately for the people involved an eventual reality of unsustainabilty will intervene
bad economics and it won't be pretty
Only available to the importer of record. So most people won't qualify. We are reviewing what we paid and if it's worth the effort. FedEx has said they will automatically refund tariff charges to the end customer - I deal a lot with FedEx, my regular bill is a disaster that takes several hours every other month sorting freight from regular shipping and dealing with the express team that we use to get parts from Europe (this has been especially fun with tariffs - what percentage of that is aluminum, is it extruded? and what's the country of origin? Oh, and Holland uses a comma instead of a period for a decimal, so that's fitfy, not fifty thousand dollars). I don't trust them to get tariff refunds right.
Sorry...my sarcasm didn't come through. I'd be shocked if half of the tariffs get refunded...and most of that will likely be some kind of fraud enabled by a half-assed system created by the idiots in the current administration and the cronies they paid to built the site.
Been to a park lately? I often have longer lunches in public spaces. Even if it's just out for a drive, retirees don't all spend their time at home, and they have more time. Ask your congressman how much of their time is responding to people over 65 vs. under 30.
You can't find a seat in our library with all of the retirees. They got there on local roads, patrolled by the local cops, who keep an eye on the fire department and come check on your house when you set off the alarm by accident or see a strange kid hangin' out in the yard. Here, RE taxes pay for trash collection, leaf collection, and I can put the wood from a fallen tree on the curb and it goes away. All situations are different, but old people use a lot of public resources.
Been to a park lately? I often have longer lunches in public spaces. Even if it's just out for a drive, retirees don't all spend their time at home, and they have more time. Ask your congressman how much of their time is responding to people over 65 vs. under 30.
That's a pretty minor increase. My congressman is a Rethuglican who spends zero time responding to a radical liberal like me.
I'm trying hard to think of what public resources I'm using more of... other than not clocking in every day, our lifestyle hasn't really changed at all.
Been to a park lately? I often have longer lunches in public spaces. Even if it's just out for a drive, retirees don't all spend their time at home, and they have more time. Ask your congressman how much of their time is responding to people over 65 vs. under 30.
As I mentioned below, I spend a lot of time on sales tax these days. It's a regressive tax. It punishes those at the bottom. Fees for car registrations, drivers licenses, and after school participation fees for sports are regressive. Social Security is regressive. And then people like Elon Musk pay nothing. The richest guy in the world. He'd still do what he does if he was only worth $100B, but instead he gets to live tax free and chase being the first trillionaire. It's irrationally stupid.
From the Ezra Klein link below: Salary is for suckers. People really don't understand how payroll taxes work and how rich people make (and horde) money.
Conceptually use taxes are good. As noted though it all gets convoluted with policies and incentives.
rgio wrote:
In case you didn't know....the website to return the billions illegally tariffed last year is up. Go get 'em
Only available to the importer of record. So most people won't qualify. We are reviewing what we paid and if it's worth the effort. FedEx has said they will automatically refund tariff charges to the end customer - I deal a lot with FedEx, my regular bill is a disaster that takes several hours every other month sorting freight from regular shipping and dealing with the express team that we use to get parts from Europe (this has been especially fun with tariffs - what percentage of that is aluminum, is it extruded? and what's the country of origin? Oh, and Holland uses a comma instead of a period for a decimal, so that's fitfy, not fifty thousand dollars). I don't trust them to get tariff refunds right.
Every group thinks they should get a break, because - reasons. Some of them are correct. A lot of it depend on if we want to use tax policy to incentivize behaviors, but again every group think they deserve that incentive (or they think the thing they want to do should be incentivized).
Retirees are heavier users of many public resources, they tend to be subsidized because they are a reliable voting block. I don't like that kind of structure. I'm semi-retired and I find myself using a lot more public resource than I did before. But I've also structured my world so I don't pay a lot in property taxes - I'm lucky to have that luxury. I get the idea of 'done our bit', but if you are still participating, you should be paying something - eliminating taxes creates a weird structure without 'ownership' of the resources.
I'm trying hard to think of what public resources I'm using more of... other than not clocking in every day, our lifestyle hasn't really changed at all.
Since retiring, I've come to appreciate the idea of no income/property taxes for retirees - maybe even veterans; at least those who served long enough to retire. We've done our bit.
Every group thinks they should get a break, because - reasons. Some of them are correct. A lot of it depend on if we want to use tax policy to incentivize behaviors, but again every group think they deserve that incentive (or they think the thing they want to do should be incentivized).
Retirees are heavier users of many public resources, they tend to be subsidized because they are a reliable voting block. I don't like that kind of structure. I'm semi-retired and I find myself using a lot more public resource than I did before. But I've also structured my world so I don't pay a lot in property taxes - I'm lucky to have that luxury. I get the idea of 'done our bit', but if you are still participating, you should be paying something - eliminating taxes creates a weird structure without 'ownership' of the resources.
I tend to agree that property taxes for certain groups should be lowered, but we currently have people over 50 hording the resource of home ownership, and when younger families don't move in the infrastructure that you paid for begins to fail. I'm not there yet, but in NJ you can get a 50% reduction in RE taxes as a senior which I plan to use if I don't move out of the state (that I've lived in my entire life) first.
I was a pretty hard-line Republican in my early days. Earn what you deserve, keep what you earn, strategize to minimize taxes so your money isn't wasted on the lazy. Then I had kids.
As I mentioned below, I spend a lot of time on sales tax these days. It's a regressive tax. It punishes those at the bottom. Fees for car registrations, drivers licenses, and after school participation fees for sports are regressive. Social Security is regressive. And then people like Elon Musk pay nothing. The richest guy in the world. He'd still do what he does if he was only worth $100B, but instead he gets to live tax free and chase being the first trillionaire. It's irrationally stupid.
I generally agree with the movement concept of Paul's, but any tax conversation comes down to 2 things: the base and the rate. What are you taxing, and how much.
Following up on that discussion below on "being angry", we should tax all loan proceeds over $1M not secured by a home as earned income. We should address all of the well known loopholes that the rich exploit, and make them pay their fair share. They benefit more than most from the laws and infrastructure paid for by all Americans, and should be held to contribute a bit more based on their good fortune.
We should also seriously look at the preferred treatment for investment returns. I read today that Jeff Bezos is raising $10B on a $38B valuation for his AI startup. That money isn't helping the markets or the average investor... it's rich people attempting to keep all of the value on the way up before they unleash an IPO for $100B that fund managers can buy for your 401k and turn into $50B.
Government is to blame for inefficiency, but the rich have turned it into a feature that the groundlings will rally for on their behalf. Unless your on the Forbes list, you're being used by the ultra rich.
In case you didn't know....the website to return the billions illegally tariffed last year is up. Go get 'em
As was I - I voted for Ronald Fucking Reagan twice.
Since retiring, I've come to appreciate the idea of no income/property taxes for retirees - maybe even veterans. We've done our bit.
I tend to agree that property taxes for certain groups should be lowered, but we currently have people over 50 hording the resource of home ownership, and when younger families don't move in the infrastructure that you paid for begins to fail. I'm not there yet, but in NJ you can get a 50% reduction in RE taxes as a senior which I plan to use if I don't move out of the state (that I've lived in my entire life) first.
I was a pretty hard-line Republican in my early days. Earn what you deserve, keep what you earn, strategize to minimize taxes so your money isn't wasted on the lazy. Then I had kids.
As I mentioned below, I spend a lot of time on sales tax these days. It's a regressive tax. It punishes those at the bottom. Fees for car registrations, drivers licenses, and after school participation fees for sports are regressive. Social Security is regressive. And then people like Elon Musk pay nothing. The richest guy in the world. He'd still do what he does if he was only worth $100B, but instead he gets to live tax free and chase being the first trillionaire. It's irrationally stupid.
I generally agree with the movement concept of Paul's, but any tax conversation comes down to 2 things: the base and the rate. What are you taxing, and how much.
Following up on that discussion below on "being angry", we should tax all loan proceeds over $1M not secured by a home as earned income. We should address all of the well known loopholes that the rich exploit, and make them pay their fair share. They benefit more than most from the laws and infrastructure paid for by all Americans, and should be held to contribute a bit more based on their good fortune.
We should also seriously look at the preferred treatment for investment returns. I read today that Jeff Bezos is raising $10B on a $38B valuation for his AI startup. That money isn't helping the markets or the average investor... it's rich people attempting to keep all of the value on the way up before they unleash an IPO for $100B that fund managers can buy for your 401k and turn into $50B.
Government is to blame for inefficiency, but the rich have turned it into a feature that the groundlings will rally for on their behalf. Unless your on the Forbes list, you're being used by the ultra rich.
In case you didn't know....the website to return the billions illegally tariffed last year is up. Go get 'em
i Lots of good stuff. My thought is we need to tie taxes to the reason for them and mechanism for them as well. Generally, I'd like to tax money when it moves, and tie it to the support/infrastructure that the moving money is working toward. Gas taxes go to roads. Sales taxes goes to the city/county/state as appropriate - used to fund the machine of state that keeps the whole thing working. Property taxes are a little harder as the cost to keep up utilities and such are harder, but we already handle this like sales taxes with fees on your water/power bill, but longer term projects certainly need some attention. But yeah, the endless hand out for money to basically 'run government' is getting old. I run a small business, so on top of all the taxes, there are endless fees for licenses, tax assessors looking for use and excise taxes on EVERYTHING, and every entity you deal with on both sides of any transaction is looking to get paid, then we pay more for 'compliance' on top of that (and those payments are often taxed too). It has gotten us a pretty good standard of living, but it's also a red flag when the state and fed are the lions share of employment, but also a lions share of payments too (go look up what your local university football coach is being paid, and then remember that's tax funded). We are taxing ourselves for a jobs program, but the job is tax collection, it's a snake eating it's tail. There is a happy middle, but we are well beyond that (and yes - worse in blue states). The blue/red state thing is interesting because I agree the taxation is too much, but at least the blue states are generally quality places to live, red states tend to be failing on a lot of fronts -props to Mississippi for finally doing some good on the education front, but it's still not a place I would want to live.
Since retiring, I've come to appreciate the idea of no income/property taxes for retirees - maybe even veterans; at least those who served long enough to retire. We've done our bit.
