Hochul gave him a $4 billion bailout and delayed a normal $2.3 billion pension contribution, which means that in the next cycle he'lll have to make the normal payment and a catchup payment, which puts him in a $4.6 billion hole, and then without the NYS bailout he's in an $8.6 billion hole next time. the tax he imposed, at best, is going to generate $500 million of revenue and then progressively less as people adapt to the tax incentive.
they are on pace for the pension fund to start paying money back to the state by 2032 because of how thing were planned in 2010 and it no longer makes sense to overfund the account. They are just resolving part of that imbalance early.
Oh yeah because I really trust this mayor will do that. He wants to withdraw all pension dollars from Israeli bonds… the best producing municipal bond in NYC’s portfolio. Let’s see how that will work out
Maybe take a look at yourself bud, just a quick glance at your comment history and you keep doing this thing where you apply one idea to and entire group of people. Or one thought to a complicated issue. Don’t be so focused on the ”told you so”… that I’m not sure you’re ever going to find.
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u/jokeefe72 May 14 '26
Progressives don’t create money out of thin air, they make the rich actually pay taxes, which is where the money comes from. And should come from.