Mayor’s Budget Seeks to Lay Off 5% of Teachers

Gerald · 05-07-11, 07:50 AM

Mayor Michael R. Bloomberg presenting his budget on Friday at City Hall. The spending plan called for laying off 5,400 city workers.

Mayor Michael R. Bloomberg proposed on Friday to lay off 5,400 New York City workers, including 5 percent of all schoolteachers, in what would be the first significant city job cuts in two decades.

The proposed reductions, which Mr. Bloomberg said had been made necessary by sharp drops in state and federal aid, would leave the city with 289,000 municipal employees, its smallest work force since he took office in 2002. The mayor would also slightly reduce the city’s overall spending, to $65.7 billion. His austere budget proposal follows years in which he expanded city spending and granted pay raises to city employees.

“This budget is full of difficult decisions,” Mr. Bloomberg said at City Hall during a presentation of his spending plan for the fiscal year that starts July 1.

http://www.nytimes.com/2011/05/07/ny...1&ref=nyregion

Note: May 6, 2011

Armistead · 05-07-11, 08:50 AM

Why we need to cut corporate taxes. The recent report said they made more profit this year than when the economy was booming in 6-07 and CEO's pay is highest in history. If we could cut taxes so they could make more, I'm sure the trickle down would save the economy and these jobs.

Gerald · 05-07-11, 08:55 AM

Quote:

Originally Posted by Armistead

Why we need to cut corporate taxes. The recent report said they made more profit this year than when the economy was booming in 6-07 and CEO's pay is highest in history. If we could cut taxes so they could make more, I'm sure the trickle down would save the economy and these jobs.

What pays a medium-sized Company in NC today in taxes?

mookiemookie · 05-07-11, 08:58 AM

Quote:

Originally Posted by Armistead

Why we need to cut corporate taxes. The recent report said they made more profit this year than when the economy was booming in 6-07 and CEO's pay is highest in history. If we could cut taxes so they could make more, I'm sure the trickle down would save the economy and these jobs.

According to the trickle down economics theory, we should be in the biggest economic boom in history.

tater · 05-07-11, 09:14 AM

Corporate taxes don't pay for schools in the US. The bulk of school budgets come from local taxes like property taxes.

In NYC, the "fat cats" pay the vast majority of such taxes since they own the most expensive properties (both commercial and residential). Also, those same people, to the extent they have kids in school... send them to private schools. So the rich in NYC pay for the schools and don't use them.

Of course unskilled "set dressers" at places like Lincoln Center can make well over 300k a year, so technically they are also "rich." (easily in the top 5%-10% of wage earners). Course in the city that's not enough to own a terribly expensive house, so they'd not be paying as much in property taxes as a guy with a 3M$ house (from watching that "Selling New York" show, looks like for anyone with kids, high 2 millions is pretty much entry level for anyplace worth living).

Armistead · 05-07-11, 09:47 AM

No, but corporate tax cuts supposed to help them make mass profits so they can create jobs, jobs for the average worker who could then pay taxes so schools could stay open, hire teachers, etc.

Again, last reports corporations are making better profits than when the economy was booming, but laying off, moving jobs overseas, cutting benefits.

tater, you're smart enough to understand the great GOP trickle down plan. Even Pauls big plan cuts 3 trillion is social spending, but 4 trillion in tax breaks for the rich...That's a trillion dollars less in the pot, not savings. Now, if you think they'll create jobs and trickle down all those savings....right, so far they get richer, poor get poorer.

If corporations are making the most profits ever, but not creating jobs, do you really think giving them more tax cuts will help. It's not even about taxes, they'll gladly pay them, they prefer less regulation and loopholes. Hides their evil from the average dumb american GOP member..

"Between 2000 and 2005, U.S. corporate taxes amounted to 2.2% of the GDP. The average for the 30 mostly rich member countries of the Organization for Economic Cooperation and Development was 3.4%".

Big U.S. companies have become experts at hiding profits in tax havens overseas and many of the smaller ones simply pass through their income to owners who then report it on their personal returns.

If so much corporate income hadn't moved to the personal tax rolls over the last 20 years, U.S. corporate taxes would account for 3.2% of the GDP, still a bit below the industrial average.

Fact is US corporations pay less taxes. We've lowered tax rates for them over 20 years and passed every law in their favor for loopholes and shelters. All it's done the last 20 years is create a two class system, destroying a once thriving middle class.

Sorry, a few percent rich people in costly cities doesn't equate to a middle class, a few builders, yardkeepers, maids, etc...at a low wage comparison in a few rich cities....is that economic growth to you...

Platapus · 05-07-11, 11:10 AM

Quote:

Originally Posted by mookiemookie

According to the trickle down economics theory, we should be in the biggest economic boom in history.

The problem with trickle down economics is that I get sick of being trickled on.

Fish In The Water · 05-08-11, 03:52 AM

Quote:

Originally Posted by Vendor

His austere budget proposal follows years in which he expanded city spending and granted pay raises to city employees.

What goes up must come down...

Bitter pill though it may be, the economic balloon can't continue to expand indefinitely. Ultimately, there are bound to be corrections. AKA, reality bites.

05-07-11, 07:50 AM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Mayor’s Budget Seeks to Lay Off 5% of Teachers Mayor Michael R. Bloomberg presenting his budget on Friday at City Hall. The spending plan called for laying off 5,400 city workers. Mayor Michael R. Bloomberg proposed on Friday to lay off 5,400 New York City workers, including 5 percent of all schoolteachers, in what would be the first significant city job cuts in two decades. The proposed reductions, which Mr. Bloomberg said had been made necessary by sharp drops in state and federal aid, would leave the city with 289,000 municipal employees, its smallest work force since he took office in 2002. The mayor would also slightly reduce the city’s overall spending, to $65.7 billion. His austere budget proposal follows years in which he expanded city spending and granted pay raises to city employees. “This budget is full of difficult decisions,” Mr. Bloomberg said at City Hall during a presentation of his spending plan for the fiscal year that starts July 1. http://www.nytimes.com/2011/05/07/ny...1&ref=nyregion Note: May 6, 2011 __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

05-07-11, 09:14 AM	#5
tater Navy Seal Join Date: Mar 2007 Location: New Mexico, USA Posts: 9,023 Downloads: 8 Uploads: 2	Corporate taxes don't pay for schools in the US. The bulk of school budgets come from local taxes like property taxes. In NYC, the "fat cats" pay the vast majority of such taxes since they own the most expensive properties (both commercial and residential). Also, those same people, to the extent they have kids in school... send them to private schools. So the rich in NYC pay for the schools and don't use them. Of course unskilled "set dressers" at places like Lincoln Center can make well over 300k a year, so technically they are also "rich." (easily in the top 5%-10% of wage earners). Course in the city that's not enough to own a terribly expensive house, so they'd not be paying as much in property taxes as a guy with a 3M$ house (from watching that "Selling New York" show, looks like for anyone with kids, high 2 millions is pretty much entry level for anyplace worth living). __________________ "Government, even in its best state, is but a necessary evil; in its worst state, an intolerable one." — Thomas Paine

05-07-11, 09:47 AM	#6
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	No, but corporate tax cuts supposed to help them make mass profits so they can create jobs, jobs for the average worker who could then pay taxes so schools could stay open, hire teachers, etc. Again, last reports corporations are making better profits than when the economy was booming, but laying off, moving jobs overseas, cutting benefits. tater, you're smart enough to understand the great GOP trickle down plan. Even Pauls big plan cuts 3 trillion is social spending, but 4 trillion in tax breaks for the rich...That's a trillion dollars less in the pot, not savings. Now, if you think they'll create jobs and trickle down all those savings....right, so far they get richer, poor get poorer. If corporations are making the most profits ever, but not creating jobs, do you really think giving them more tax cuts will help. It's not even about taxes, they'll gladly pay them, they prefer less regulation and loopholes. Hides their evil from the average dumb american GOP member.. "Between 2000 and 2005, U.S. corporate taxes amounted to 2.2% of the GDP. The average for the 30 mostly rich member countries of the Organization for Economic Cooperation and Development was 3.4%". Big U.S. companies have become experts at hiding profits in tax havens overseas and many of the smaller ones simply pass through their income to owners who then report it on their personal returns. If so much corporate income hadn't moved to the personal tax rolls over the last 20 years, U.S. corporate taxes would account for 3.2% of the GDP, still a bit below the industrial average. Fact is US corporations pay less taxes. We've lowered tax rates for them over 20 years and passed every law in their favor for loopholes and shelters. All it's done the last 20 years is create a two class system, destroying a once thriving middle class. Sorry, a few percent rich people in costly cities doesn't equate to a middle class, a few builders, yardkeepers, maids, etc...at a low wage comparison in a few rich cities....is that economic growth to you... Last edited by Armistead; 05-07-11 at 07:02 PM.

05-07-11, 08:50 AM	#2
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	Why we need to cut corporate taxes. The recent report said they made more profit this year than when the economy was booming in 6-07 and CEO's pay is highest in history. If we could cut taxes so they could make more, I'm sure the trickle down would save the economy and these jobs.