Skip to comments.New York and co. are paying the price for being Deep Blue
Posted on 01/02/2018 4:12:56 PM PST by Oshkalaboomboom
The cold wasnt the only thing that hammered the Northeast in the final fortnight of 2017 and we can thank our extreme political polarization for the traumas New Yorkers and New Jerseyans are about to suffer.
On the last night of the year, the Trump administration informed New York and New Jersey that there was no longer a deal with the federal government to help fund the desperately needed new rail tunnel between the two states a $13 billion hit.
Before that came the signing of the tax bill, whose limitations on the mortgage-interest and state- and local-tax deductions (SALT) are going to hammer upper-middle-class residents in these states and send real-estate values into a downward spiral.
We can argue about the merits of these decisions. Does the unquestionable NY-NJ commuter crisis have a national component obliging the federal government to take an active role? There are strong arguments on both sides.
Should states with high taxes have been allowed to keep their taxes high and spend so much on services not provided to other states by gaming the system through the state- and local-tax deduction?
And was there a public interest in allowing people who can afford million-dollar mortgage payments to deduct the entirety of the interest on those mortgages or does the existence of that deduction simply inflate housing prices at every level and make home ownership unaffordable?
There are arguments on both sides here. They cannot be easily resolved.
But what we do know is this: Had there been a single Republican senator in any of the high-tax states in America a senator in New York or New Jersey or Illinois or California or Oregon or Minnesota or Hawaii the elimination of the SALT deduction would likely not have been included
(Excerpt) Read more at nypost.com ...
Elections have consequences so suck it up buttercup and he just keeps winning!!!
Cuomo says the elimination of SALT will by itself destroy NY. If so then it appears that the only reason NY was economically viable in the first place was that it was being subsidized.
Note to the NYP: Even if the other 49’s taxpayers went halfsies, NYS still CAN’T AFFORD IT. Can you guys count?!
You don’t just dump on Trump
I was listening to this guy last night on the radio with his predictions for 2018 everything he said about the President...hes dumb, not sophisticated, has no idea what he is doing, never considers the consequences of his actions...
I thought even after one year these people are that dumb?
Don’t forget Connecticut! Those poor unfortunate folks in Greenwich and New Canaan struggling to make ends meet...
Screw em. They aren’t even Americas and NY/NJ isn’t even America anymore.
New Jersey’s filth over flows it’s borders by almost 100 miles. We in PA have been rejecting the notion that Philly is located here for decades. It’s just an extension of NJ. NJ ruins everything it touches. Literally.
It might be a small point, but in the original article, it seems to me that the Trump administration told NY and NJ that there was no 50/50 agreement and not that they,(the administration),were ending one.
That makes a difference to me.
“Cuomo says the elimination of SALT will by itself destroy NY.”
I guess 9/11 wasn’t enough for these northeast liberal pricks. Now on to plan B.
“Its a Joisey thing.”
Have the Port Authority of New York and New Jersey pay for - they’re rich. The Port Authority operates the Port Newark-Elizabeth Marine Terminal, which handled the third-largest volume of shipping among all ports in the United States in 2004 and the largest on the Eastern Seaboard. The Port Authority also operates Hudson River crossings, including the Holland Tunnel, Lincoln Tunnel, and George Washington Bridge connecting New Jersey with Manhattan, and three crossings that connect New Jersey with Staten Island. The Port Authority Bus Terminal and the PATH rail system are also run by the Port Authority, as well as LaGuardia Airport, John F. Kennedy International Airport, Newark Liberty International Airport, Teterboro Airport, Stewart International Airport and Atlantic City International Airport. https://en.wikipedia.org/wiki/Port_Authority_of_New_York_and_New_Jersey
Yea,not that this douche isn’t ruining it himself!
“Awesome” is a massive understatement!
I make my coffee in the morning with distilled liberal tears.
I love it! I am getting so used to winning.
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