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this post was submitted on 16 May 2026
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This is exactly what I meant when I was saying that people are overstating the impact of the pied-a-terre tax.
The budget was down 12 billion dollars.
The pied-a-terre tax brought in around 550 million.
The state gave the city around 8 billion.
Most of the state's tax base comes from NYC, and cutting checks to municipal governments (usually with money they got from the federal government) is like half of what state governments are even for
Cool, shame it's off-topic.
Nobody here is talking about the sources of the state's budget. We're talking about the fact that "taxing the rich" gave NYC 1/24th of the needed money.
I call 1/24th of the needed money a good start.
Can't wait to see what Zohran does for the rest of his term.
Yeah, I also called it a good start and I'm getting downvoted for it.
New York City probably generates more tax revenue than it gets back from the state. That's how redistribution is supposed to work.
Cool, shame it's off-topic.
Nobody here is talking about the sources of the state's budget. We're talking about the fact that "taxing the rich" gave NYC 1/24th of the needed money.
So, you're telling me, that people's taxes are being used to pay for services that benefit them in addition to billionaires being taxed?
Inject that shit into my veins. People's taxes being used to fund their services is how this shit is supposed to work.
Some of it is that. Most of it is the state granting the city exemptions to state regulations that would have cost the city billions to comply with. So not money changing hands.
Correct. Now, why would you downvote me for saying that?