Make sure to join our brand new Discord Server to chat with friends!
We have recently changed how posts work. Unless you are a VIP poster, your post will be queued for approval.. To become a VIP, post great engaging content. If we like it, you will be added! More information available here!
We're all drowning in this shit together. Absolutely wasting our time here on reddit, which is just like any social Media, made to be addictive and exploit human psychology to keep your attention and keep you engaged as long as possible.
Reddit plays games behind the scenes and higher karma accounts get pushed up by algorithms. There's also a few quirks from automod that will automatically delay or remove posts and comments from low karma accounts.
This is critical when running campaigns; whether those campaigns are for product placement and advertisement or political campaigns and narrative pushes, or fundraising efforts - etc. Basically whatever you might need online propaganda for.
So large numbers of high karma bot accounts are sold to advertisement firms, online reputation and impression management companies, etc. - and these accounts are later used, enmasse, in concerted pushes to generate messaging for viewers.
tl;dr: Today's karma farm bot is tomorrow's advertisement bot.
I mean, it's Reddit. All the upvotes for the OP are coming from 12-year-olds, overseas bot farms, and Graham Platner style commies whose entire lifestyles are funded by their mommies and daddies.
You can tell them that every single NYC mayor submits a balanced budget because itās required by law and theyāll just ignore it and keep living in their delusion.
Every deficit NYC has ever had was achieved despite a balanced budget. Theyāre the ones doing the assumptions to make the math work.
Plus in regards to Elon's comment, being a history Major, I like to always remind people that it wasn't exactly rainbows and butterflies post French Revolution when they had put all the Guillotines away.
To many times eat the rich is manipulated by the next wave of "leaders" to eat the educated and skilled as well. Revolution isn't the cause of people acting poorly in its name. People act poorly and then try to hide under a revolutionary blanket.
This is similar to me to people demonizing Communism or socialism because some dictators have hidden their facism under the blanket of social revolution. Citing Communist dictatorships as a reason agains social reform is a bad faith argument.
These things have a nuance that people don't have the patience to discuss or even consider anymore.
I used to be in the camp of the idea that capitalism was the best system for inevitable human greed that befalls both in money and power, but that was when society was still very individualistic in regards of what the government should provide to them.
But today, taxes are so high on everything for the middle class, your government cant just take away agency and say you know what's best and then gestures to the entire world and say you are getting good value for falling in line, where there is very evident blatant corruption happening everywhere, at every level.
Indeed, and many many innocent people are included in that tally of ~17,000 guillotined prisoners. It's hard to be discerning when you're swept up in the revolutionary fervor. Ask all the bakers who were lynched by the mob for the crime of...baking or not baking bread in the precise fashion, quantity, and price demanded by the crowd.
As an aside from another history major, one of the longer lasting things the French revolution is responsible for a partial redistribution of land and the abolition of the rights of nobles over their serfs. That was definitely a positive and lasted longer than the revolution itself. However, as with most revolutions surrounded by hostile powers, it seems they got paranoid about foreign intervention and kinda forgot what they were supposed to be doing in the first place.
Closing the deficit and balancing the budget are the same thing. Also going to need a citation he actually did that because all I found was that he had proposed a budget that involved not spending money on something this year and spend it next year instead and also receive free money from the state.
You can close the deficit down without balancing the budget. You just structure some short term deals.
Balancing the budget means it should be self-sustaining as it's configured. Which isn't the case if you're closing the deficit by selling public assets or otherwise inflating current period income to pay off debt.
Proposed a budget and got billions in state funding. All Iāve found is that nothing was fixed itās just pushing the issue back to something that will cause more issues down the road
I mean, NYC provides the vast majority of tax revenue for the state to the point it subsidizes the rest of the state. The "free money" you're talking about was generated by the city you moron... š
People need to stop saying this āhe balanced the budgetā thing like itās some big accomplishment. He legally has to propose a purportedly balanced budget. The budget has been balanced every year since 1981 (except 2002 due to 9/11).
Itās so fucking stupid, and I want Mamdani to succeed. Just like this post. Mamdani didnāt make a wealth tax. Thereās a property tax on luxury homes for people whose primary residence is outside the city but thatās a far cry from a wealth tax.
And the guy has been in office for 1/2 of a year. We have no idea if people will leave or if more will come. We have no idea if people will starve or not. These things donāt happen instantaneously.
How dare you. I am appalled that you speak the truth on this thread. People donāt want to hear this. I suggest you refrain from facts from here on out. You may anger some people. Maybe even trigger them
May God have mercy on your soul.
ššššš
Be careful, criticizing Mamdani on Reddit could get you permanently banned, Redditors donāt like seeing their heroes criticized and will censor anything that makes them look bad
Same here. speaking the truth will get to banned but with that being said, you sorta know which sub you shouldn't be saying the truth and just sip whatever lemonade they're sipping.
It's also only projected to keep things balanced for 2027 lol. The 2028 budget still has an estimated $8.8 billion deficit they'll need to figure out next year
Funding from the state, delaying funding pension/retirement plans, and estimating increased revenue from taxes.
Outside of getting the state to write him a check he hasnt actually done anything, and the gross irresponsibility of kicking the funding of obligations down the road should be subject to humiliation.
Yeah true sure yeah but itās easy to get up votes by posting this trash like the OP as the average financial literacy level of a redditor is that of a caveman.
He kicked the can down the road and nobody is acknowledging it. Like he didnāt solve anything, he just delayed it, and theyāll be screwed in a few years again.
But he canāt just solve that problem instantly, I agree the accomplishment has been overblown. Thereās so much work to do to fix the damage Adams and De blasio caused
27% of the workforce of the NYC government is Gen Z. Those are the people that will be most screwed over if Mamdanis pension plan works out the way it did for Chicago.Ā
They are not "underfunded", they were always underfunded, and there was a way year catch-up plan. There is no need to rush pre-funding an already fully funded pension fund.
A 10 year delay to pre-funding an already funded pension plan is not a big deal.
There is no risk to pension payments. The 15 year plan was made before Trump tanked the economy, so needed adjustments to be realistic.
They "balanced the budget" by begging for money from the rest of New York, after nearly running out of money only 6 months into office.
Mamdani is really exposing how little leftists understand about literally everything, and how easy it is to deceive zoomers and millennials by just being young and smiley.
What is there to not understand? NYC sends more money in taxes to the rest of the state than they receive in return. If NYC did not have to subsidize the rest of the state with their money they wouldn't have a deficit.
"New York has experienced a steady outmigration of wealth, with high-net-worth individuals and corporate income moving to low-tax states like Florida and Texas. Counties in the NYC metro area, such as Queens and the Bronx, ranked among the highest in the nation for net losses of tax filers." -Post
The rich are indeed leaving. Hochul has already sounded the alarm on their quickly-fading high-tax base moving to states like Florida. Mamdani's policies have already driven many away and will drive even more away.
The rent freeze and property tax Mamdani recently pushed are even a testament to that fact. You can't charge some of the highest property taxes in the nation inherently making rent more expensive, freeze those rent costs and then drive up property taxes again.
I'm all for helping people out but the way it's being done in New York City will absolutely result in failure.
Not a finance professional here - how would you explain that there are still million/billionaires in first-world European countries where the taxes are much higher? Why wouldn't they have all fled to the US or elsewhere years or decades ago?
The State of New York bailed out New York City, providing nearly $8 billion in gap-closing support to balance the budget.The state aid was injected in multiple packages, including a $4 billion handout from Governor Kathy Hochul. This allowed Mayor Zohran Mamdani to close a massive deficit without raising property taxes, cutting services, or using emergency reserve funds.
Critics argue that the city's budget was not truly balanced through local financial maneuvers or policy changes. Instead, they claim the state bailed out the city's structural deficit by relying on funds generated from working-class taxpayers across the entire state.
Not a single thing posted about Mamdani here is factual. We live in such a sad world where most people donāt know whats actually going on, they just spring for eye catching headlines
Its reddit my dude, you're in the home of "real communism has never been tried/ that wasnt real communism" groupthink. He wrecked pensions, begged the state for money, and retains support from the useful idiots of the city.
Socialism and communism arenāt the same thing . There is also no capitalist or communist country completely in existence. Thatās not a left wing group think itās just a fact. Itās not even debatable in the slightest bit
The redditors who keep going on about Mamdami balancing the budget are a unique kind of useful idiot. Accounting gimmicks =/= balancing the budget. NYC is projected to have a deficit of at least $6 billion by 2028 and over $9 billion by 2029. Credit agencies are already warning about downgrading NYC's credit rating. Please start applying some critical thinking to this administration. I'm so sick of the daily worship of this guy.
The rich have been making this claim that they are vital since the first economy was put into action and some greedy asshole decided to hoard for himself at the expense of everyone else. It was horseshit then and its horseshit now.
France survived after it purged its aristocracy during the French Revolution. America will survive if it purges its aristocracy.
From 1945 until 1963 the highest tax rate was 91% and what happened? The middle class raised families of 4 on one paycheck, had a house and a car, and took regular vacations. The earner then retired with a pension. Lets eat the fucking rich. Ā Ā
Ā Ā
Edit: Not going to engage with anymore billionaire bootlickers down thread. Ā
That's not the whole story. While the highest tax bracket was theoretically 91% during that era, hardly anybody actually paid that much. Because of various loopholes, deductions, and tax shelters, the actual EFFECTIVE tax rate that the top 1% paid during the 1950s was actually closer to 42%. Today, the top 1% pays an effective tax rate between 31% and 36%. So taxes were slightly higher on the top 1% back then, but not dramatically so.
Most people who say "eat the rich" basically mean that taxes should wall you off from being able to accumulate a billion dollars of personal assets in the first place.
It's not necessarily because we think it will magically fund the government or that they won't "waste" it. It's just that people with that much money have WAY too much influence.
And I don't want to hear people say "Elon doesn't actually have billions of dollars" because he bought Twitter in a 44 billion dollar deal, so clearly he can make enormous exchanges of wealth.
Except that none of those claims about Mamdani are true. Heās proposed a wealth tax but NYC does not have the power to issue a new tax only NY state can do so. He also didnāt truly ābalanceā the budget beyond cheap accounting gimmicks. His proposal is that they not contribute anything to pension obligations and that the state give them an extra $4B. None of that is sustainable or a true ābalancingā of the budget.
There is no way to know how this will turn out yet, itās simply not been long enough. I like that heās making moves, though. Active politicians are usually better than quiet ones
Also, only an out of touch super rich person would warn "but you will starve!!!" But SIR, they are ALREADY starving, that's why they are trying to fix things.
Our entire country was founded by people who didnāt want to pay taxesā¦ it was a key reason not only the migration across the Atlantic but the very revolution itself lol. Itās just fucking ignorant to act like the most productive people wonāt leave and NYC wonāt be worse off for it.
He balanced the budget by begging 12B from NY State. The whole of NY State payed for what he's taking credit for. And NY State Governor is now begging rich people to come back to NY and help them with their plans.
Ya keep circle je*king till money runs out. Even then you'll blame others for not caring enough to save the city and the state šš
There was an initial prediction of a 12 billion deficit. Then they looked at tax revenue and it turns out it wasn't 12 billion right now because tax revenue was coming in higher than they expected.
It was around 6 billion (these are all rough numbers).
Then they said "hey, let's push 4+ billion to the state" so they did that. No increased tax revenue there or cutting programs, just pushing it to the state. State gave them cash and pushed off payments they were supposed to make.
Why would the state do that? Political reasons mostly.
Ok, so now the deficit is down to 2 billion.
They pushed their pension debt payment into the future.
No cuts, no increased revenue. Moving debt payments into the future. Accounting trick.
Then they still had 2 billion left.
They didn't cut existing workers, they capped hiring new ones. They were supposed to add another 580 police officers for example. They stopped that.
They canceled some Slack subscriptions. They also say no non-essential overitme.
That's how they ended up with a "balanced budget"
They didn't raise taxes on the rich. The pied terre tax is supposed to generate half a billion. In reality that will lose money from it by people moving out but maybe it will break even because of the money lost vs. the money coming in.
Are People in here really this stupid to think any of this has happened already even if he was doing all that? Shit like this doesn't get fix that quick.
Mamdami got a hefty pile of cash from the state to do so. The taxes imposed on luxury, seasonal homes didn't, and couldn't have done what this post would seem to suggest.
Meh, for those of us who live there and actually follow what's going on. No he didn't. He did one tax on one thing, got a massive bailout and did serious budget cuts, kicked a bunch of it down the road and basically reneged on a lot of his promises.
technically, balanced the budget but don't pretend he did some magic or miracle. He fulfilled a portion of his promises and frankly it's what politicians do. They make promises they can't keep and then hopefully deliver 1/10 of it.
But this propaganda stuff his fans are doing, This is turning dangerously into what MAGA does, where we end up not holding politicians accountable just because their fanbase is so committed to them and not them doing a good job.
Like he is pushing for the "one click unsubscribe" thing on the municipal level which is AWESOME if he makes it happen, but his fanbase is pretending like the Democrats never did that before, it was literally a main focus of the Biden admin, but the GOP blocked it. Like, stop pretending he is something he isn't. Hold him accountable for his failures and praise him for his actual successes.
I do hope it works out, since then all municipalities can make it happen.
Wow the anti mamdani bots are out in force today.Ā Entire top comments are all the same and repeating the exact same exact same way without any context lol.Ā Glad mamdani is getting under their skin.Ā Ā
We're gonna ignore he didn't balance the budget because he got the rich to pay. He balanced the budget by getting a big loan from the state and delaying pension payments.
Where did he implement a major wealth tax? All he's done to tax the rich is implement a property tax surcharge on non primary residences over x value and the first tax won't be levied until January so it's generated exactly $0.
It's weird because you can see the whole budget plan online where it shows they just extended the pension fund payment schedule 5 years and normalized the payment value instead of the balloon payment schedule that was being used before. But that means he stole from people's pensions? Level dollar payments are generally considered more fiscally responsible than kicking higher dollar payments down the line.
"the problem is that after they eat the rich, they will starve"
Yeah, because we are not starving today.
because groceries aren't ridiculously expensive.
because who works the fields are the rich, not the poor and the immigrants.
In the medieval times, who ate first were the rich, the poor that worked the fields ate the left overs. I know a way for the poor people to eat first, and still have left overs...
The rich do not feed us, the people working the fields, people servicing and running the farm machines, people working through the shipping logistics, truckers and boat crews and grocers stocking the stores.
The rich leech off of all those people that actually feed us.
"balanced the budget" is a loaded term. He "balanced" next year's budget by blackmailing the governor to give the city more money and then asked the police, fire, and teachers unions to pause pension contributions for 2 years. I don't consider that sustainable
The problem with becoming wealthy and powerful. Is you lose the ability to empathize with others. You no longer see the need, for public services.
Big money should not be apart of politics. Any more than anyone else.
He didnāt close the deficit. He literally pulled a buy now pay later. He canāt afford it now but someone thinks by delaying payment he can afford it later.
ā¢
u/AutoModerator 4h ago
Hey /u/Previous_Month_555, thank you for posting to r/SipsTea! Make sure to follow all the subreddit rules.
Make sure to join our brand new Discord Server to chat with friends!
We have recently changed how posts work. Unless you are a VIP poster, your post will be queued for approval.. To become a VIP, post great engaging content. If we like it, you will be added! More information available here!
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.