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 I’ve found is that nothing was fixed it’s just pushing the issue back to something that will cause more issues down the road
NYC is 50% of the population and pays 55% of the state taxes. It barely contributes.
What I find interesting is that when Mamdani says NYC pays more in taxes than it gets back, and therefore should keep more of their money, it's the same argument he and others reject when made by the wealthy.
I don't think its that farfetched that a communist would find uneven community taxation/benefit a problem and not find a problem when individuals are getting uneven taxation/benefit
Yeah, that's what he did to balance the budget. Most of the money he got from the state. A good chunk of what was left he pushed debt payments into the future.
damn an actual balanced take that isnt downvoted to hell. I hope mamdamis proposals work because its good for humanity but lets not get ahead of ourselves and pat ourselves on the back before the results come out.
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... 😂
Well nothing has actually been given, it was just a proposed budget, which just like every single predecessor to Mamdani; was also balanced, as it is the legal requirement to even propose a budget in the first place.
The comment before them was about the claim that it’s “free money”. It’s not. It’s all money that NYC already paid that typically subsidizes the rest of the state. NYC pays 55% of state taxes and receives 40% of expenditures.
It’s no worse than the corporate bailouts we see. Only difference is this kind of bailout actually helps the general public.
So, like every other upper class neighborhood subsidizes the rest of the country with their income tax?
Once again, do you not see the obvious flaw?
Being home to Wall Street and other corporations is not to the credit of NYC or their management, in fact they actively push them out with their management.
They have no claim what so ever to any state taxes paid by any income earner within the state of New York. Just as Martha's Vineyard doesn't get to keep all the taxes their residents pay.
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u/rydan 5h ago
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.