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1. declare bankruptcy
2. clean house, revoke all liabilities.
3. start over
The problem with that theory is that the rest of us get stuck paying for your share, while you skate free of obligation and you credit is destroyed for a long time.
Not to kick a puppy or anything, but many people have already done this math and spoke with their feet. Salaries have generally been flat against this property tax trend for a long time now... and it's not looking to change any time soon.
It does make one wonder where the breaking point is for those who believe they are still getting value on LI.
One possibility that might help believe it or not is Obamacare. In 2018 the huge tax on Cadillac plans starts. Hopefully they will no longer be sold by the insurance companies so that will force the ending of the outrageous health benefits the unions get. They will actually have to deal with average plans as most plans will just become the less generous exchange plans. The unions might have shot themselves in the foot this time by heavily backing Obamacare. Right now, they seem to be the possible losers in the deal.
Of course the towns/county could just take the 6K per worker penalty and forego providing health insurance all together. That in and of itself would save billions and instantly make LI affordable tax wise.
The problem with that theory is that the rest of us get stuck paying for your share, while you skate free of obligation and you credit is destroyed for a long time.
It's not a theory, it's inevitable reality.
Who are the "rest of us?" Who is skating free of obligation? You are off base.
sirtiger is referring to NY State and Nassau/Suffolk filing bankruptcy. There will be haircuts to all pensioners. There will be cuts to payrolls and services. Retirement and healthcare plans will come in line with reality. The pain will be shared among all NYers.
Who are the "rest of us?" Who is skating free of obligation? You are off base.
sirtiger is referring to NY State and Nassau/Suffolk filing bankruptcy. There will be haircuts to all pensioners. There will be cuts to payrolls and services. Retirement and healthcare plans will come in line with reality. The pain will be shared among all NYers.
Wrong wrong and wrong! First off NYS, Nassau and Suffolk are not and will never file for bankruptcy. Second NYS pension system is in great shape have you been following Detroit bankruptcy? Even there the courts are siding with the pensioners and now they're going after the banks. imagine in NYS where it's written in the charter and is so pro-union . ... What your implying might work in some mismanaged,corrupt small township but not in Nassau, Suffolk or the whole State. No way Jose.....
Wrong wrong and wrong! First off NYS, Nassau and Suffolk are not and will never file for bankruptcy. Second NYS pension system is in great shape have you been following Detroit bankruptcy? Even there the courts are siding with the pensioners and now they're going after the banks. imagine in NYS where it's written in the charter and is so pro-union . ... What your implying might work in some mismanaged,corrupt small township but not in Nassau, Suffolk or the whole State. No way Jose.....
As long as you don't run out of other peoples money and as long as the FED can keep propping up these phony artificial asset bubbles, then yes, you are correct. I think many people will be sorely disappointed when they realize that IT CANNOT GO ON FOREVER!
Who are the "rest of us?" Who is skating free of obligation? You are off base.
sirtiger is referring to NY State and Nassau/Suffolk filing bankruptcy. There will be haircuts to all pensioners. There will be cuts to payrolls and services. Retirement and healthcare plans will come in line with reality. The pain will be shared among all NYers.
Sorry if my opinion offended you but thus far I, nor any of my friends/family who remain on LI have heard that your statement to be fact. If, it has been announced as fact please let me know where so I can show it to them.
Status:
"Let this year be over..."
(set 26 days ago)
Location: Where my bills arrive
19,233 posts, read 17,110,766 times
Reputation: 15543
Quote:
Originally Posted by okellies
I agree with the poster about cutting down on the number of school districts. Is there a reason why Lindenhurst, Copiague, Amityville and Babylon need to have separate districts? Why not have one administrative building, maybe one or two fire houses. It's one of the reasons why we are out in Sachem school district. It's a bigger area and the taxes are much lower. (We pay 4k a year in taxes on a 1/4 acre property, 5bdr/2ba).
The poster said "Make Nassau have 1 unified school district and Suffolk have 1 unified school district too" . He was proposing only 2 school districts 1 for each county not "cutting down on the number". It does work we have county wide school districts and it works fine.
Is your 4k in taxes for property tax only or both property & school taxes?
NYC has 1.1 million students in an area under 500 sq miles; Suffolk 250, 000 in an area almost 2,400 sq miles.
Even Rhode Island, half the size of Suffolk County, has 32 school districts plus 4 regional districts, despite this, the highest earnings in these school districts is no where near what we're paying.
One would believe, given what we pay, that we are graduating Rhodes Scholars; but truth is each year we have program cuts in order to keep up with contractual increases, increased healthcare costs, and pension obligations as well as pension shortfalls.
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have you been following Detroit bankruptcy? Even there the courts are siding with the pensioners and now they're going after the banks. imagine in NYS where it's written in the charter and is so pro-union 
. ... What your implying might work in some mismanaged,corrupt small township but not in Nassau, Suffolk or the whole State. No way Jose.....
