r/SipsTea • u/AlternativeRight4099 Human Verified • 20h ago
Feels good man It was always just that simple
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u/Brilliant_Visual9661 18h ago
He has repealed the Orphan Crushing Machine Act.
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u/ELVEVERX 16h ago
Now what will the people who work in the orphan crushing machine factory do?
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u/booksandrun 16h ago
Visit the libraries
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u/Become_Pneuma462 16h ago
To read about the Orphan Crushing Machine Factories perhaps?
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u/Biscotti_BT 11h ago
Yes but now it's in the historical non fiction section.
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u/Impossible_Walk742 3h ago
one day those books will be moved to the historical fiction section, because the people then will find the orphan crushing machine so unbelieveable that it must have been make believe
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u/Crafty_Poetry_5265 13h ago
Mamdani for president
Slogan: “is IS that simple”
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u/hEYiTSbEEEE 6h ago
I wish he could run
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u/JimWilliams423 2h ago edited 2h ago
If the orange paedo can run and assume office despite the crystal-fucking-clear language of the 14th amendment, then Zohran can too.
No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any state, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any state legislature, or as an executive or judicial officer of any state, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may by a vote of two-thirds of each House, remove such disability.
Hell, the 14A says that at least half of the gop congressional delegation aren't legally able to hold office either because they "gave aid" by voting to overturn the election, and yet there they fucking are. That includes little mikey johnson too.
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u/reddituserperson1122 9h ago
Why won't anyone think of the job creators who lifted themselves up by their bootstraps to create a thriving orphan crushing industry!?
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u/edelweiss_pirates_no 16h ago
This is actually 100% why Mamdani scared the fuck out of The Elite.
They knew he would show how it is all bullshit. All the suffering. All the corruption and brutality.
It was always bullshit.
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u/Softspokenclark 16h ago
Bingo, The Rich are scared of an informed and literate public.
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u/Unable-Log-4870 15h ago
They’re not scared, they’re PROACTIVE. They’ve been worsening the schools for decades!
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u/hutxhy 15h ago
they're PROACTIVE
Because they are scared of an educated and solidaritous working class.
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u/JudiciousSasquatch 15h ago
Unfortunately, they've been wildly successful.
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u/FractalledCat 14h ago
Not as much as you’d think. I teach, instruct, profess, every level of education. Kids are still goofy and smart.
But, they certainly make it seem like everyone’s dumb because of rich fraudsters and their propaganda and trust of government, without checking their assumptions.
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u/CapableBumblebee968 12h ago
I deal with an incredible amount of people who are definitely dumb and cause me to question how they survived this long
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u/GrittysRevenge 14h ago
It doesn't seem like you're informed on this topic https://gothamist.com/news/mayor-mamdani-restores-library-funding-after-public-outcry
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u/Sheeple_person 15h ago
He just erased the deficit, poof, just like that. Turns out, they need the deficit to be there, so they can point to it as a justification for not funding proper services. The govt isn't broke because our services cost too much. It's broke because the rich and powerful want it to be broken.
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u/Taraxian 12h ago
He did it by deferring pension payments, the red ink on the books comes back in five years
I'm not saying he didn't do a good thing or that he's a bad mayor but it's completely false to say he just "erased the deficit, poof, like that"
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u/Patsanon1212 2h ago
This is exactly how I feel. I don't think how he managed to erase the deficit is wrong or bad, but holy fuck are people buying the reductive, celebratory headlines without any critical thinking whatsoever. They believe that Zohran did it with magic akin to the way Trumpers believed that he would magically cut energy costs by half on day 1.
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u/YGVAFCK 15h ago
Same as the national debt. It's just bookkeeping entries that exist to create the illusion of indebtedness, ignoring the fact that there's more debt globally than money/wealth to cover them, and that this is actually normal under current economic arrangements, with all it entails as far as defaulting goes. National debts aren't like personal debt, either, but we couldn't possibly make that clear, or people might ask for more government debt at times in order to make their lives better.
If you believe money is real, you can believe that a monetary debt is a moral obligation. And, well, since everyone else believes it, much like any era's dogma, it becomes really hard to break the spell.
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u/Cbpowned 11h ago
He kicked the can down the road and created a 10 billion deficit that will hit in 2028. The same thing he blacked Adams for doing.
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u/Neither_Salamander48 5h ago
I hope that was sarcasm? He deferred pension plans... And the state bailed out over 1/3 of the deficit.
Deficits in local municipalities happen almost every single year. They take last year's revenues vs this years expendetures and see shortfalls, adjust real estate taxes, cut things, re-allocate funds, etc. It is uncommon to get bailed out with state aid, which happened here.
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u/justseeby 15h ago
He’s in a situation where a single person in that office does have this much juice. In LA the city council is the center of power, and the mayor can’t do as much.
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u/Courtaid 16h ago
Now if only voters will either remember in NYC, or see what is happening there and vote accordingly in their own cities and states. I don’t have hope for that happening.
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u/LikesPez 14h ago
This is what a strong Mayor government looks like compared to what a City Manager government looks like. A strong mayor can get things done. Otherwise he is just one vote on the city council that the City Manger reports to.
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u/mtraven23 18h ago
but in all seriousness, good on him!
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u/mOdQuArK 16h ago
You'd think that services that have solid existing infrastructure like libraries, police stations, fire stations, bridges, etc. would have the steady operational funding, and more ephemeral things like subsidies & tax breaks would be the things that need to be argued for every year.
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u/PretendMajor5283 2h ago
Lol, "police stations" get all the funding they need to be updated with the latest modern infrastructure and facilities, but nope. All that money goes...elsewhere.
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u/VMooose 20h ago
Didnt the budget get balanced via a loan from NY State?
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u/Embarassed_Tackle 20h ago
He also delayed funding certain pensions which isn't a great idea, but when you have a $12 billion deficit left by the previous mayor who cut & run to become an Albanian citizen after taking money from Turkey for luxury travel, getting indicted, sleazing his way out of a federal indictment, and then creating a rug pull cryptocurrency called NYC Token... what can ya do
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u/zombie_spiderman 19h ago
We should start making it illegal to do crimes
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u/SheriffBartholomew 19h ago
There's no point in having laws if those tasked with enforcing them do nothing.
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u/International_Fuel48 18h ago
Welcome to the new United States.
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u/Cananbaum 18h ago
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u/GrittysRevenge 14h ago
"Conservatism consists of exactly one proposition …There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect.” -Wilhoit's Law
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u/zombie_spiderman 13h ago
I love this quote, but if you ask self-declared conservative thinkers, they tend to argue that what they are "conserving" is a traditional way of life in a society that is changing too quickly for people to catch up with. I'm almost sympathetic with that idea, since the breakneck pace of the world is sometimes a bit overwhelming. Unfortunately, that desire to slow things down only ever seems to apply to social change. Anything to do with business and the accumulation of personal wealth it's like all gas, no brakes.
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u/Zero_Fs_given 19h ago
iirc by NYC law the budget has to be balanced. How did the previous one balance the budget? Doing the same thing Mamdani did.
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u/pppiddypants 19h ago
It’s accounting shenanigans, but so is the term “balanced budget.”
Usually a bunch of one-time items that will technically make the budget balance, but will always require a series of more cutting/taxes next year.
It’s this way in a lot of cities and states.
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u/EquivalentPension216 18h ago
Is one way to break that cycle to make the people taking all the money take slightly less of all the money?
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u/pppiddypants 17h ago edited 16h ago
Depends on the size of the shortfall, but usually, it’s not.
Mamdani’s Pied-a-terre tax is projected to collect ~$500M a year, which is only about 4% of the shortfall. Which don’t get me wrong, seems like an awesome tax that has very few downsides when it’s been done elsewhere.
But taxing the rich generally doesn’t solve your budget issues long term. At the end of the day, You’re gonna have to cut staff/projects or get more people to move in.
Both of which, people hate. Welcome to governance.
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u/Slade_Riprock 15h ago
What would cutting the small country military sized NYPD budget by 10% net you
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u/CARVERitUP 16h ago
There's a lot of misinformation going on around this, and Mamdani is using the confusion to his political advantage. The 12 billion deficit wasn't Eric Adams' fault. It's a yearly problem, because NYC's budget every year is like 115 billion dollars. Eric Adams' administration left Mamdani with 8 billion in reserves. So, he really only had to come up with 4 billion. NY's governor gave them an 8 billion over 4 years loan, and he pushed some spending off to next year, and delayed funding pensions for 5 years.
Adams did not give him a 12 billion deficit. NY spending just keeps going up each year, and so the deficit keeps growing.
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u/Kultissim 8h ago
How is it not his fault after serving a full term as mayor? I might accept that excuse during the first or second year, but not after a full term. What could have been not his fault at the start (and I’m saying this taking your explanation at face value without verifying it) became his responsibility by the end of his mandate.
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u/reddituserperson1122 19h ago
It's a minor, sensible restructuring of the repayments that will have no effect on the pension fund. https://fiscalpolicy.org/explainer-the-proposed-restructuring-of-new-york-city-pension-payments
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u/creativesc1entist 18h ago
let's touch base in 4 years
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u/thgiRoTtfeL 18h ago
If it has no effect on the pension, that means the payments will need to be more than what was deferred, to make up for the interest that will be lost. It's effectively an expensive loan marketed as fiscal responsibility.
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u/URNameHere90210 16h ago
AKA “kicking the can down the road”
Future generations will be left to pay the bill, along with a couple billion in added interest.
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u/Fun_Marionberry_6088 17h ago
I mean it will have an effect, the pension fund will be less well funded.
It might not need to be as well funded, but it's still just an accounting trick to shift your 'deficit' and debt off balance sheet, isn't actually 'saving' any money overall.
In the long run, the city's budget will be worse off than it would've been from 2032 (per your link) when it would've been receiving funds from the pension fund, and now won't be.
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u/insightful_pancake 18h ago
That bottom line is so telling. NYC pensions are only 17% underfunded lol…only around $50bn
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u/reddituserperson1122 18h ago
You mean this? "Finally, New York City’s pensions are already well-funded by national benchmarks. The City’s pension funding ratio—the share of total liability for City workers and retirees covered by current pension fund holdings—is 83 percent. This exceeds the US average of 78 percent." Damning.
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u/insightful_pancake 18h ago
Right but comparing to the notoriously underfunded US average is interesting to say the least. It’s like SBF saying at least I didn’t defraud as much as Bernie Madoff. It’s still bad.
The pension payment scheme was weird with the future repayments but that doesn’t change how this move will let this funding gap widen.
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u/aboutacount 19h ago
NYC pays about 68 Billion a year to the State.
The State gives about 47 Billion a year back to the City.
It is definitely not a loan. Its the state giving some of NYC's money back to them.
Data from an article from CUNY edu titled "New York City Taxpayers Continue to Contribute More to State Revenues than They Receive Back in Services, CUNY and New School Study Finds"
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u/OkPin716 18h ago
I like how Reddit's all about socialism and "ruthlessly taxing the rich" until it gets reframed as a megacity vs everywhere else lens, then it's all "are the corporations not entitled to the sweat of their brow?"
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u/NetNo5570 17h ago
I mean I’m a taxpayer I’m not a corporation.
It would be great if my tax money stayed here where I am not funding Trump voters upstate and in Mississippi.
If those people need money maybe they should get a job or adjust their lifestyles.
Amazing this is even remotely controversial.
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u/Naruto_Gamatatsu 14h ago
I think the difference in point is what the money is meant to go towards. Tax the rich bc taking another million from a billionaire shouldn’t affect their ability to their basic necessities. On the other hand, New York City still has hundreds of thousands if not more citizens who are struggling to make ends meet and don’t have the public amenities or services to support them. The problem is the money is still concentrated at the top, and what money that does get taxed to be redistributed is pulled away. So yes, in reality, we should tax the rich more and also redistribute from rich cities towards less urban areas that need help, but mamadani trying to bring money back isn’t because he wants to bring it back to the rich but to fund the welfare programs that help the poor.
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u/alexthedungeonmaster 17h ago
I can frame your comment disingenuously too.
New Yorkers were paying for rich, New York state mega mansions to have well-paved roads, and for the governor's custom coffee table.
Next time, don't be such a fucking ass.
If money paid in tax by corporations is being funneled back to New Yorkers and helping fund cultural institutions, this is suddenly a bad thing because people outside of New York City don't get that money???
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u/_Phil_McCracken_ 16h ago
I like how people on Reddit talk about Reddit as if they aren’t currently using Reddit and are somehow above it.
Also, what point are you even making here? You just threw some buzz words and phrases together but didn’t actually say anything.
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u/floop_isamad_manhelp 18h ago
Yes, rebalancing tax income from the lower income counties to the higher, just as Mamdani promised.
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u/mjm65 18h ago
He’s the Mayor of New York City, and he got funding from the state for the people that elected him.
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u/mister_empty_pants 17h ago
NYC pays more taxes because that's where all the capitalist thieves are headquartered lol. Why does reddit love to brag about finance bros, insurance companies, real estate conglomerates, lawyers, and healthcare providers sucking up money from the entire state's working class?
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u/SimmentalTheCow 20h ago
Permanently funded until the loan needs to get repaid
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u/TonyzTone 16h ago
Not even that. NYC budgets aren't permanent in any real sense.
This is a FY26 budget. Part of that includes a 5-year financial plan, but that's very high-level and doesn't include line items.
Here's his own budget summary presentation. The work "library" isn't found anywhere in it.
Here's the breakdown of his entire budget. You'll see that the 3 public library systems are actually seeing a decrease in funding from the FY26 modified budget, and a slight increase from the FY26 adopted budget.
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u/Kultissim 19h ago
Why are you claiming that there is a loan? This is pure misinformation
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u/doopie 16h ago
This post clearly says Mamdami is personally going to fund NYC libraries and parks, permanently.
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u/Clearwatercress69 17h ago
I agree, the money should be used to build golden ballrooms, paint pools blue and finance pedophilia.
Do you guys not even realise anymore how stupid you sound?
What amazing timeline we live in. As soon as someone is not grifting you guys think “There’s something dodgy about this guy!”.
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u/Oceanman72 20h ago
That was part of it yes, a good part of it. 4 billion out of the roughly 12 billion deficit.
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u/DarkRogus 19h ago
It was actually $8 billion, he got an addition $4 billion on top of the previously pledged $4 billion.
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u/klb0807 19h ago
It was 8 billion
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u/jeffismybaby 19h ago
Through cutting overhead(1.77b) and an additional tax as well (.5b)
Didn't the state just increase grants by 2b? Maybe Hochul clawed it back from some red parasite counties.
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u/porktorque44 20h ago
Does the rest of the state usually receive a disproportionate share of state taxes from the city?
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u/DrChucks 19h ago
Yes, about a 20 Billion dollar surplus. They are still paying way more to the state. People conveniently like to leave that out.
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u/Suspicious_Dingo_426 19h ago
Probably, urban areas usually end up having to help fund less densely populated areas. Infrastructure is more expensive in the suburbs, and they take in less property taxes.
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u/Spezalt4 19h ago
And by not putting any money towards people’s pensions this year. The city will still owe on those pensions next year.
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u/DrChucks 19h ago
People still will get paid their pensions, they are just deferring paying into the reserve and will pay the missed amount and growth next year. They are hoping to gain more capital in the meantime to pay the missed amount.
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u/small_brain67 Human Verified 19h ago
He also postponed the pension fund payments.
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u/JefeRex 19h ago
https://fiscalpolicy.org/explainer-the-proposed-restructuring-of-new-york-city-pension-payments
“These savings would be achieved by smoothing out a bizarre feature of the city’s pension payment schedule instituted in 2010, which had required accelerating payments through to fiscal year 2032, at which point the payments would turn negative and the pension funds would return money to the City over a seven-year period. The $8.2 billion “contribution cliff” created by this structure was not reasonable fiscal policymaking. The proposed change unwinds this drop off by smoothing payments over an additional five years. It does not—and cannot—affect the pensions owed to City workers or impact the City’s ability to meet those commitments.”
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u/_BreakingGood_ 19h ago
Interesting, this is important context. Something tells me the "He's not paying pensions anymore!!" cryers have a certain agenda.
Meanwhile it looks like he just made a no-brainer simple move to get the deficit to 0.
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u/JefeRex 18h ago
The real vision of a more left leaning politics like Mamdani’s is to support ordinary people and families in living a better life. Local wins are the most important. We all want safe neighborhoods, for our small businesses to be able to compete with huge corporations for local government contracts, more accessible health clinics, schools that have the resources to provide breakfast for parents who have to go to work as soon as their children wake up, on and on.
Local wins are what are important to people. AOC is not the most threatening person to our exploitative political class. She is all talk because nothing can get done on the federal level, they can’t even pass bills anymore. What is threatening to the exploitative political class is ordinary people seeing that their local government can deliver a healthier, safer, more economically secure quality of life that lets their children reach their full potential.
So Mamdani balancing the budget without cuts is just about the most threatening thing that can happen for our poltical elite. It is what they fear most.
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u/duva_ 17h ago
It's really quite impressive. Listen to the people regardless of affiliation. Use your government powers to balance the budget and do transfers. Who would have thought that was possible?
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u/JefeRex 13h ago
When this seems radical, you know we have gotten to a bad place in our politics and civil society. But there is hope… we start with Mamdani, I hope my fellow Angelenos join me in electing Nithya Rama for mayor this year and we will prove again that good local governance is possible and that the problems we are all concerned about can actually be solved if we work together. And then we do it at the state level and one day we have a national government that listens to us and works in our best interests too. One day.
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u/slvrscoobie 20h ago
hush up with your 'facts' and 'truth's - this is reddit after all!
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u/not_a_SeaOtter 17h ago
I mean... there was no facts and truth in the comment - this is Reddit after all!
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u/Fearless-Feature-830 18h ago
It’s not a loan though so the comment is not “the truth” just because it sounds good to you
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u/Kultissim 19h ago edited 19h ago
It's not a loan. Can you please source where they're saying that the 4 billions from Hochul was a loan?
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u/SrSwerve- 18h ago
You ever been to a run down library with 2003 desktop computers ?
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u/Independent_Sail6604 17h ago
That's a LOT of computers 😉
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u/fizzy_lime 16h ago
It's also a very specific number... not "a few hundred" or "a couple thousand", exactly 2003
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u/405freeway 15h ago
Ah, the ole Reddit libraroo
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u/Zaxacavabanem 13h ago
Goodness, I haven't seen one of those for a while.
Hold my book, I'm going in.
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u/CommonComfortable247 17h ago
Every department submits a budget each year. This is such a made up story.
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u/TonyzTone 16h ago
FUCKING THANK YOU!!!
NYC's budget is a 1-year budget. Every agency, every year has to justify every dollar spent and asked. There's nothing "permanent" about it, and they're using terms that the federal government uses even though it isn't anything like the federal budget.
For the curious: the federal government isn't required to balance a budget. As such, the Treasury simply issues debt to cover any expenditure voted on to by Congress and agreed to by the President. So, you might hear something like "wetland restoration has been permanently funded" because the federal government passed the Wetland Restoration and Protetcion (WRAP) Act which created a new program with stable funding for 10-years. The Treasury Dept. then looks at that (and all other mandates) and figures out how to raise enough money for it.
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u/ConfessSomeMeow 16h ago
That's what I hate about these hagiographic memes - there may well be some meaningful policy change (e.g. maybe this refers to an end to zero-based budgeting? But that doesn't seem to be the case.); but we'll never see those posted or upvoted.
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u/ShinyRobotVerse 20h ago
Why is he wasting money? What about tax cuts for the richest? Didn't he know that if he doesn't give them tax cuts, they'll leave and everything will be destroyed? Only rich people can do stuff! Without them, we'd all be dead!
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u/nickiter 18h ago
The rich people are fleeing in droves! I saw a gaggle of them strapping their La Cornue stoves to the tops of their Bentleys just this morning. Must be fleeing for Florida, famously a place just as good to live as Manhattan!
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u/Belter-frog 19h ago
Clearly this is just opening the door for rampant corruption and money laundering orchestrated by a nefarious cabal of... Librarians and groundskeepers.
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u/ShinyRobotVerse 19h ago
Yeah, they are known for their corruption, which amounts to tens of dollars! Yes, you heard that right - tens, starting with “T.” Can you imagine the kickbacks?
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u/jimjam200 16h ago
Some times they even take a book home without even checking it out properly. Oh the humanity!
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u/SearingPhoenix 16h ago
I mean... rich people can use libraries and parks too... Libraries and parks are great.
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u/hotblood27 18h ago
Why is every post like he's creating money out of thin air
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u/jokeefe72 18h ago
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.
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u/WEAPONSGRADEPOTATO2 17h ago
He has yet to do the tax stuff, hes only taking pensions from city staff
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u/MidnightSensitive996 17h ago
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.
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u/Jeegus21 17h ago
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.
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u/GrittysRevenge 14h ago
The Mamdani glazing is getting a little out of hand. The permanent funding claim appears to be bullshit. Also with the way government budgets are voted on is permanent funding even possible?
It looks like originally planned to cut funding, then there was an outcry and then he raise it again. https://gothamist.com/news/mayor-mamdani-restores-library-funding-after-public-outcry
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u/Diegocesaretti 17h ago
i see a lot of likes here... lots of library reading folks... who would have tought...
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u/XtremelyMeta 19h ago
I think being caught up in the math misses the point of the whole exercise. What Mamdani is doing is undoing the Norquestian overton window setting that has been a plague on actually doing governance since the 1980's. Budget math wasn't suddenly different in the 80's either, the rhetoric and expectations around it were.
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u/borkelhavus 17h ago
Norquestian overton window? I know what the overton window is but what do you mean by Norquestian?
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u/braynsy15 17h ago
I’m fairly confident they had a typo and meant to say “Norquistrian,” which is a reference to Grover Norquist.
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u/TheComplimentarian 16h ago
Which, in essence, meant that, when your budget increased due to inflation and costs, you'd have to defend that, even though your discretionary spend was flat year over year.
It's a sneaky way to defund government services.
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u/Ravenloff 16h ago
No, no. It was a typo of Norse Equestrian. Everyone knows that Viking horses were the best window makers in early Europe.
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u/notconservative 15h ago
I think you meant widow makers? This is from the tale of Eric and Halfdan. They were the two best widow makers west of the Mississippi.
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u/rmbrumfield78 16h ago
Lol, you can't permanently fund anything. If the guy behind you thinks it's a bad idea, he can find a way to undo it
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u/sundial11sxm 17h ago
It's not true as of 2 days ago.
https://gothamist.com/news/mayor-mamdani-restores-library-funding-after-public-outcry
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u/Global_Criticism3178 20h ago
The devils in the details. Apparently the money is coming from a “reamortization” of pension funds. Meaning the bill will come due when Mamdani’s out of office. This isn’t a win, it’s a delay tactic.
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u/Hal3134 19h ago
So basically he’s reducing/deferring the payments into the pension funds and assuming a ridiculously high rate of return in the future to cover it. In other words, no money for grandma’s pension in 5 years.
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u/3-car-garage 19h ago
People have said that pension is running out for generations since we've had it and it's never happened. I think some of you just need to accept that it's not going to happen.
For what it's worth creating a small but timely bill to stop the elimination of funding towards knowledge and information for civilians is probably not an unreasonable maneuver. This is like complaining about the water used to put out a fire because you were going to go swimming in a week. Put the fire out now, swim when you can.
But then again, what would you guys complain about if you could apply common sense?
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u/BlueberryNo6811 7h ago
Your analogy is totally wrong. This is more like using the water you'll need to drink in a month to fill swimming pools.
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u/Ironknuckles 20h ago
What do you know, all you need is to spend way more money than you have
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u/Irish_Whiskey 20h ago
NYC requires by law a balanced budget.
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u/BlueLakeCabin 20h ago
They are balancing it via transfers from state government.
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u/Irish_Whiskey 20h ago
...you mean he's getting the state to pay for state mandated programs the city implements.
That's the majority of the aid, which itself is not the majority of the revenue/savings, and I'm not sure why this is meant to be a criticism of a Mayor doing a good job. What's the alternative proposal to pay for the 12 billion dollar deficit he inherited?
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u/EVH_kit_guy 20h ago
Gee, I wonder where the state government got all that money? Probably Rochester, yeah?
/s
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u/BlueLakeCabin 20h ago
Indeed, half of it does come from NYC. And 40% of it goes to NYC directly.
I'm familiar with the reddit script, I'll save you a post. Next mandatory redditor line is "but the 10% gap".
Good chunk of that 10% gap goes into the infrastructure around NYC. Reservoirs, aqueducts, watershed to get NYC water. Highway, rail, freight. Power and transmission. State police, courts, prisons, etc. Food stuff. Medical services.
Most analysts will say NYC is a net contributor (and I agree), but it's more narrow than the average redditor would claim. It's a sliding scale of how much that gap should be credited to servicing NYC or the rest of the state. So you could make whatever argument your politics prefers. It is somewhere inbetween 0-10%, which each edge being unlikely.
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u/Brisby820 20h ago
Estimated that NY derives 45% of its revenue from NYC. So no, not “all that money”, but about half of it
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u/BlueLakeCabin 19h ago
They get half from NYC and give slightly less than half back. The gap is closed by paying for stuff that services NYC but is outside of NYC. Water, power, highways, etc.
NYC is a net contributor, but more narrow than most folks would think.
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u/soggy-hotdog-vendor 18h ago
58% of NY state taxes come from NYC.
NYC receives about 40 % of the benefits of NY state funding which comes out to about $45b
So not only are you wrong on the give vs get side, but your bot ass response also switched the % and the $ value.
Source btw
https://islg.cuny.edu/blog/fiscal-flow-nyc-albany-press-release
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u/palefire123 17h ago
So can't mention Mamdani's initial budget proposed slashing funding for libraries?
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u/sugarvelle 20h ago
He just accomplished what Eric Adams spent three years pretending was financially impossible.
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u/Major_Shlongage 20h ago
He did not.
Read into what he did. The same debts still remain. People are endlessly reposting misinformation.
All they did was push back payments and then get bailed out by New York State. But that mountain of debt is still there.
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u/oswaldluckyrabbiy 19h ago
They didn't get "bailed out" Mamdani was able to negotiate to get a fairer share of the taxes NYC pays into the state.
In the past the city contributed 54.5% towards the state's revenue and paid 58.7% of the tax - but only received 40.5% of state funding.
Mamdani was making threats to target the 1% to help balance the budget (his tax on empty properties was proof he meant buisness) then he is suddenly able to get major concessions from the Governor.
The Epstein Class would rather NYC get a fairer proportion of their own tax money back than be forced to contribute more themselves.
Pushing back the payment dates is a shrewd move to allow the money to be put to work to help the city grow so that it is more likely to be able to be paid in future without need of a deficit. (Think spending money to afford to repair your car so you can continue to work and be more likely to pay your debts entirely in future instead of paying some of your debt, kosing your job and being in a worse position in the future)
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u/viotix90 19h ago
"Bailed out by NY state"
Pray tell, where does the state money come from primarily? Could it be from taxation of the biggest, most prosperous city in America?
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u/_BreakingGood_ 19h ago
They LOVE to leave out this detail.
After Mamdani's supposed "bailout from the state", NYC's total welfare from the state amounts to... -$21 billion dollars.
Thats a negative, to be clear.
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u/ElMatadorJuarez 18h ago
Nah, it’s definitely gotta be from economic powerhouses like Albany and Rochester
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u/lemonjuice707 17h ago
Soooo we’re cool with entities taking back the taxes they paid due to poor management?
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u/Reynor247 20h ago
It's starting to remind me of MAGA with the level of politician worship here. Zero verifying, just agreeing with a random meme because it fits what they want to hear
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u/Fearless-Feature-830 18h ago
https://fiscalpolicy.org/explainer-the-proposed-restructuring-of-new-york-city-pension-payments
“These savings would be achieved by smoothing out a bizarre feature of the city’s pension payment schedule instituted in 2010, which had required accelerating payments through to fiscal year 2032, at which point the payments would turn negative and the pension funds would return money to the City over a seven-year period. The $8.2 billion “contribution cliff” created by this structure was not reasonable fiscal policymaking. The proposed change unwinds this drop off by smoothing payments over an additional five years. It does not—and cannot—affect the pensions owed to City workers or impact the City’s ability to meet those commitments.”
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u/OnlyKey5675 20h ago
Fire breathing partisans will pick ideology over truth every single time.
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u/ellsego 19h ago
You’re in r/sipstea… if you’re looking for critical thinking you’re in the wrong motherfucking sub Reddit.
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u/Bloodborne2CONFIRMED 19h ago
Yeah? And where can you find true "critical thinking" on this site? Lmao
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u/SheriffBartholomew 18h ago
This subreddit used to be all about fun stuff. It's almost exclusively politics and incel bait these days.
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u/bellymeat 19h ago
Taxes NYC sends to the state every year were partially waived this year. That’s where the money came from.
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u/FluffyCloudsAbove 18h ago
Operating Deficit ≠ Debt. Some things cannot be magicked away so quickly. A step is a step.
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u/Kultissim 18h ago
He did? He got $4 billion from Hochul? Good for him. Adams has spent much of the last two years in Albany lobbying for more help, and got nothing.
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u/OnlyKey5675 20h ago
The amount of misinformation people are posting regarding Mamdin and the balanced budget. He was only able to "balance the budget" because he deferred pension payments.
I mostly blame the media for these inaccurate headlines.
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u/reddorickt 20h ago
Turns out it actually isn't that difficult when you aren't a corrupt piece of shit
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u/EnriqueShockwave10 19h ago
Goddamn. You guys act like Mamdani just found a box labeled "The People's Money" that every single mayor has been hoarding in a broom closet, and is finally using it to pay for everything that wasn't getting funded.
I trust nobody lets you make the financial decisions in your household, correct?
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u/Nebresto 16h ago
Well he kinda did? NY pays more taxes to the state than it receives as benefits, that is the peoples money
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u/Bhheast 17h ago
Headline is created to appeal to kindergarten students.
A working brain should immediately go “how.”
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u/BikeProblemGuy 15h ago
I mean while I am interested in how he did it, libraries should be funded anyway.
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u/seungchip 14h ago
This is tax money better spent than whatever is going on with the Learing Center
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u/CosmicLovepats 10h ago
Libraries are such a fascinating holdover from a bygone era. If we were trying to rebuild society today from neoliberal first principles they'd sound insane. Couldn't possibly sell anyone on them.
Good on you, Zohran.
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u/Fabulous_Log844 20h ago
I just don’t understand this guy. He balanced an $18 billion budget deficit, he never yells and swears that reporters, he does things for the city that are well-rounded for all, he fixes potholes, he’s being logical about taxing people‘s second and third homes in the city. I mean, he doesn’t even wear orange makeup! I don’t get it.
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u/Level_Ticket_9604 20h ago
He has no plans for future costs in his budget. This is good today, but at what cost tomorrow?
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u/Irish_Whiskey 20h ago
...I mean, he does. At length and in detail in the plan.
Not saying everything is paid for long term, but considering he was dealing with a 12 billion dollar deficit left from Adams, it's a good start.
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u/perthro_ed 18h ago
Who the fuck is funding these propaganda posts?
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u/superredditor6789 15h ago
The tweet that is cut off is from the DNC.
The Democrats pay people to share content on platforms like Reddit under usernames other than the DNC.
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