Posted on 10/30/2016 9:31:30 PM PDT by nickcarraway
Wall Street is doing well.
That’s usually good news for the city budget. This year, though, it comes with bad news.
The industry’s first increase in profits in four years isn’t exactly flooding the city’s coffers with cash. So it may not be enough of a revenue boost to counteract the other fiscal force at work: Mayor de Blasio is fast increasing spending, particularly on City Workers.
(Excerpt) Read more at nypost.com ...
This is only direct taxes on Wall Street profits. What about its many workers?
Killing the Federal Reserve will kill the Left and all their social engineering schemes. Here is direct evidence. Very ironically, have a marxist mayor of NYC, who only exists because he schemes are paid for by Wall Street. Wall Street, and its financialization of the US economy, is supported by the Federal Reserve.
Guessing: NYC is totally bankrupt?
This issue arose during the 2007-08 financial collapse, when both the mayor of NYC and the governor of NY state wanted the bailed-out banks to continue paying bonuses to executives (even if they had to use taxpayer funds to do so); both entities were so hooked on their tax “cut” of those bonuses that they had them built into their budgets.
The implications of what they sought (direct transfers from taxpayers to executives) meant nothing to them; they needed to get paid.
Running out of other people’s money.
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