Idiots of the Week: Christine Quinn and Mike Bloomberg
June 13, 2007 – 10:02 am
Yesterday, New York City Council Speaker Christine Quinn and Mayor Mike Bloomberg proudly announced together that they had reached an agreement on the city’s budget for the next fiscal year. The budget includes finding use for the city’s massive $4.4 billion tax surplus.
Some of the plans for the surplus are quite logical: provide $75 million in tax relief for small businesses. Cut property taxes for homeowners by 7%. Reopen libraries six days a week for the 47 New Yorkers who still actually use libraries.
There’s one thing in the plan that’s obviously missing: tax relief for renters. 2/3 of all New Yorkers rent their homes. Speaker Quinn had been pushing for a $300 tax rebate for renters. Since property owners are getting tax relief (many of whom don’t even live in New York City), shouldn’t renters also get a piece of this massive surplus?
No, because Speaker Quinn is just another spineless Democrat on our City Council. She’d rather cave in to Mayor Mike than take a stand for the little guy.
Instead, Quinn and Bloomberg would rather eliminate the city sales tax on items like this:
These are a pair of 7 Denim shorts. They are made of such little material that it’s a wonder you can even see them. They retail for a ridiculous $202. If you buy them in New York City now, you’d pay $218.92 with tax. But thanks to Mayor Mike and Speaker Quinn, you’ll soon pay just $210.08!
That’s right. The agreement includes the elimination of the city sales tax on clothing and shoes over $110. The city sales tax on clothing and shoes under $110 was eliminated last year, and rightly so - clothing, much like groceries, are a necessity. Any piece of clothing over $110 is not a necessity - it is a luxury. If you are wealthy enough to justify paying $202 for a piece of denim that’s barely the size of my own two hands, you deserve to pay the city sales tax on it. This is a luxury tax.
So, rather than provide tax relief to cash-strapped renters who already get screwed by their landlords’ outrageous rent increases (even when the city is regulating the rent), the city would rather give more tax relief to the same people who own $2.3 million lofts, run up $400 restaurant bills at the Waverly Inn, and pay for bottle service at Marquee.
Oh, and by the way, 9% of that sales tax goes to fund the MTA. You ever hear of the MTA? That’s the agency that’s plummeting into debt. The agency that provides one of the most important services in this city. The agency that people who can afford $202 jean shorts hail a cab to avoid.
Thanks for looking out for the little guy, Mayor Bloomberg and Speaker Quinn. You guys are truly the Idiots of the Week.
14 Responses
Bloomberg is a legendary bond trader from the 70s, so I’m really not sure why he isn’t pushing for the city to buy roughly $4.4 Billion worth of debt equity or start some other endowment fund for the public use with all that money… a 5% coupon payable each year for $4.4 Billion in bonds is $220 Million a year.
Wouldn’t $220 Million a year, forever, from taxes already collected, made payable to the city be better than just continuing to tax all of us again and again and again?
I realize that it’s only a small dent in the grand scheme of the NYC budget, but still, every little bit helps.
By on Jun 13, 2007
Beehive: I totally agree. I can’t figure out why they aren’t just paying down debt… the same way I’m baffled by the MTA handing out all those “holiday bonuses” a couple years back despite knowing full well that so many bonds were coming due that would send them into a massive deficit.
By on Jun 13, 2007
a quick disclaimer…i am not related to speaker quinn.
they also aren’t throwing money in the schools…as a proud renter in the bronx, they announced on wcrk, the bronx channel… that 8th grade math stats had RAISED up to 32% of students reaching the state passing level.
after that, they drop.
so, you see, chris… it’s a long term plan. at this rate, in a generation, those who rent won’t notice the whole tax thing… it’s about math and social issues and, well, they aren’t taught about that stuff.
the school system, underpaid, understaffed, overworked and…meh, i’m preaching here.
at least, if i could afford a pair of those shorts, i’d save $8 and then, i can buy some crack from my local dealer, who knows his math there, and not care i live in a five floor walk up in the bronx with no tax break.
By on Jun 13, 2007
The MTA holiday bonus thing drove me crazy too!!!! You know a deficit is coming. A HUGE deficit. Why are you giving me 4 free subway rides? I’d rather have a functioning, reliable train than a couple of free rides and trouble down the road.
By on Jun 13, 2007
are you googling women’s shorts?
By on Jun 13, 2007
Excellent post! Thank you for pointing this out. I rent an apt. from a woman who lives in SF for God’s sake…things like this frustrate me b/c they give all my friends back in the Midwest good reason for making fun of me for living here.
By on Jun 13, 2007
MTA Holiday Bonus: Worst idea ever by the MTA. And that’s saying something.
By on Jun 13, 2007
Those folks who can afford to pay over $200 bucks for a pair of skimpy denim shorts can also afford pay more sales tax.
I suppose the high-end retailers have a more powerful lobby than the renters in the city. Do renters have an association which represents their interests? If so, they should be fired.
By on Jun 13, 2007
You deserve a standing ovation for this post.
How can I stand and clap for you on a blog? Help me find a way.
Oh and I’ve read that they’re thinking of raising
By on Jun 13, 2007
Everyone here is just jealous. You wish you could wear those shorts and look fabulous. It’s not as fun as you might think, shaving that high up is difficult!
By on Jun 13, 2007
I agree with most of the posts and the comments, except for the renters rebate (and I rent). With a rebate, the landlords will just raise the rent by the amount of the rebate. It will do no good at all. The property taxes landlords pay get figured into the rent they charged, so property tax relief would actually help renters more.
However, the sales tax rebate is idiotic, and much of the new spending and tax cuts are nice but a lessor priority than subway maintenance, improving starting police salaries, and paying down the debt. I would prefer no tax cuts and all and all spending increases to focus on those three things.
Also, Bloomberg has a repuation of a financial genius, but its pretty obvious that the big problem with the city government is that it simply tries to do too much for a local government. When this mayor cut spending, it was 10% across the board, and when spending increased it was all in penny ante projects. A real reformer would focus on improving the basics, which are transportation, sanitation, health, police, and fire/ emergency services. Once you do that you can do nice environmental initiatives.
By on Jun 13, 2007
todd… fudge swirl. that’ll keep him occupied.
after a morning from fucking hell on the 4… the hell with (did you notice i’ve dropped the nice land of the utes words here?) free rides… how about LETTING ME KNOW YOU’VE CLOSED A FEW FUCKING STATIONS YOU MISERABLE FUCKWITS??? oh, and here is another idea… LET ME KNOW BEFORE I GET ON THE FUCKING TRAIN!!!!
you get on at fordham, after dodging crack dealers and all the mamiiii’s in the world, you have to go UPTOWN some days…. some, not all… and some days, you go one station…some two… sometimes it’s all the way to the end of the bloody line.
no notices posted, no announcements by the autolady… nothing.
i left home at 12.30 to get to canal by 2. i arrived at 2.45.
yeah.
fmd
By on Jun 13, 2007
best post ever. well done.
By on Jun 14, 2007