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Bloomberg Signs Largest NYC Tax Increase in History

Discussion in 'Issues Around the World' started by ethics, Dec 3, 2002.

  1. ethics

    ethics Pomp-Dumpster Staff Member

    Property tax bills reflecting a whopping 18.5% increase will be mailed Thursday, after Mayor Bloomberg and City Council Speaker Gifford Miller officially signed the largest-ever hike into law early yesterday.

    But it may not stop there. With a $3 billion budget gap still looming over the next fiscal year, Bloomberg told the Daily News Editorial Board yesterday that additional taxes are all but unavoidable next year.

    "I think it is unrealistic for the city to close a $3 billion deficit ... by cutting back," the mayor said. "You have to raise revenues someplace or another."

    The mayor's plan next year calls for $1billion more in service cuts - and twice as much in new taxes. Besides help from the state, he is seeking help from the federal government, especially on Medicaid.

    Full story from Daily News Here

    Didn't we have a surplus for like the last 5 years? Something like 20 billion dollars? What the #$$#* happened to them and why the deficit so large?
  2. mikeky

    mikeky Member

    I wondered the same thing. Did Giuliani leave things in that big of a mess, or does Bloomberg not know what he's doing?
  3. Frodo Lives

    Frodo Lives Luke, I am NOT your father!

    9-11, for the most part, I would think.
  4. ethics

    ethics Pomp-Dumpster Staff Member

    I would have thought the same but the FEDERAL government gave us Billions in aid.

    So, again I ask, what happened to the surplus and why are we up the shit's creek already with that kind of deficit that we need to raise property taxes to 18.6%?

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