As Jude has calculated, the so called 2% tax cap really is not...An analysis of last year's (not the one just agreed to) City of Watertown budget says the exclusions in the current tax cap bill would allow a 4.96 % hike. Things are not always as they seem....Especially in Albany.
State Tax Cap Would Have Allowed Watertown To Raise Taxes More Than It Did WWNY TV 7 - News, Weather and Sports for Watertown, NY North Country Politics
4 comments:
Tax caps are stupid
Cuomo is stupid
The tax cap is going to have an exception for pensions??????????
Pensions are the biggest problem we have!
we need a pension cap instead.
Pensions are not the biggest problem we have, yet. The biggest problem we have is runaway school spending and Medicaid.
You will have to show me that graph
we are talking local tax caps
so we are talking about what local taxes pay for.
Even still, the 66 billion we spent last year actually doing something (trying to educate our children) sticks out less than the 19 billion we spent on pensions...which is paying people not to work...state tax free.
Unfortunately, federal rules for private-sector pension accounting do not apply to government retirement systems. So public-employee plans are free to legally cook the books and hide the full size of the mounting debt...If public-pension systems were forced to operate under federal accounting rules that apply to private-sector plans, the required annual payments would often more than triple, devastating state and local government budgets.
http://www.contracostatimes.com/daniel-borenstein/ci_18155641?nclick_check=1
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