Quote:
Originally Posted by Chung Tran
I know several people (Texans) who are trying to get unemployment, and can not.. yet. our official unemployment rate is higher than stated, and will spike in another 6 months, when major layoffs start in the oil and gas sphere.
Cuomo nailed McConnel today, when he pointed out that Kentucky sucks from New York's tit regularly, that New York's economy provides for Kentucky year after year.
|
Cuomo said that " Kentucky sucks from New York's tit .." did he? okay .. and i know you are paraphrasing what he said. but that's not what Cuomo
said ..
https://www.salon.com/2020/04/24/and...n-blue-states/
Gov. Andrew Cuomo, D-N.Y., accused Senate Majority Leader Mitch McConnell's, R-Ky., of hypocrisy over his
refusal to provide coronavirus aid to hard-hit states by pointing out that Kentucky takes billions in federal help each year, while New York
sends more tax money to Washington than it gets back.
McConnell responded to bipartisan calls for Congress to provide coronavirus relief to state and local governments by
rejecting what he called "blue state bailouts," even though he had no problem
approving bailouts for massive corporations like airlines.
"I would certainly be in favor of allowing states to use the bankruptcy route," McConnell told conservative radio host Hugh Hewitt this week. "It saves some cities, and there's no good reason for it not to be available. My guess is their first choice would be for the federal government to borrow money from future generations to send it down to them now so they don't have to do that. That's not something I'm going to be in favor of."
Cuomo, a Democrat, chastised the Republican leader during his Thursday news briefing.
"This is really one of the dumb ideas of all time," he said. "You will see a collapse of this national economy. So just dumb — vicious."
"How ugly a thought," Cuomo said. "I mean, just think of what he's saying: 'People died — 15,000 people died in New York, but they were predominantly Democrats so why should we help them?' For crying out loud, if there was ever a time for you to put aside your pettiness and partisanship."
Cuomo than highlighted McConnell's hypocrisy by pointing out that Kentucky is far more dependent on federal funding for its state budget than New York.
"His state, the state of Kentucky, takes out $138 billion more than they put in," Cuomo said. "New York puts in more money to the federal pot than it takes out . . . Senator McConnell, who's getting bailed out here? . . . Your state is getting bailed out — not my state."
now let's look at how federal taxation by State really works .. since Andy Cuomo and u have no clue.
Cuomo's statement rings true up front but he's intentionally misrepresenting how the system works to take a jab at Mitch.
so how does that work? let me help ya out here ... each State's federal tax base is it's population. we good here? it's important. notice there is no "State federal tax". the States do not directly pay the Federal Government. their citizens do. ya with me so far? good.
New York is not the only "net export" state nor is Kentucky the only "importer" to use these terms. the more appropriate terms are "least" and "most" dependent of Federal assistance.
so how does that work? well it's proportional of course. the larger state with larger tax bases pay more than smaller states. therefore the smaller states get more from the total tax pool because they have smaller tax bases for both Fed and state revenue. see how that works?
and Andy isn't saying NY does NOT get Federal assistance. he's taking pot shot at Mitch but he'd be stupid to claim that yeah? he knows better and he knows how and why some states put in more and yet get less in return. so where does NY actually rank in the right way to look at this?
25th. right in the middle. Interesting yeah?
Kentucky is 5th since you and Andy asked ..
where are the other two big boys population wise? Texas and Kalifornica? Texas is 34th Kali is 39th. So Andy is playing fast and loose with how the system works and why some smaller states do receive more aid that others like NY.
so there ya go. find me Andy's NY Gov email and i'll send him this post to make sure he understands it
BAHHAAAAAA
https://wallethub.com/edu/states-mos...vernment/2700/
One big point of difference among state economies is the tax burden of the average citizen. This number
varies greatly. But what are the reasons behind why some states tax their residents more or less?
If a state can afford not to tax its residents at high rates, there are multiple explanations. One is that their economic policies are sound and the state economy is doing well. But another is that the state gets disproportionately more funding from the federal government than states with harsher tax codes.
Americans have looked at federal assistance programs with growing scrutiny. Under the current administration, the number of people dependent on government assistance has
decreased.
Regardless of overall trends, though, it is true that some states receive a far higher return on their federal income-tax contributions than others.
Just how big is this difference? And to what extent does it change our perception of state and local tax rates around the country? WalletHub sought to answer those questions by comparing the 50 states in terms of three key metrics. Read on for our findings, commentary from a panel of experts, and a detailed explanation of our methodology.
1 Main Findings 2 Red vs. Blue States 3 Correlation Analysis
4 Ask the Experts 5 Methodology
Which States Pay the Most Federal Taxes?
https://www.money-rates.com/research...s-by-state.htm
Total Federal Taxes Paid by State
California has the largest population of any state, and those residents earn a relatively high average income. When you combine those two factors, it's no surprise that California residents pay more federal taxes than those of any other state.
Vermont pays the least. Total federal income taxes in Vermont are about $2.5 billion. That's due to the combination of having the second-smallest adult population of any state and a below-average per capita income.
Here are the top 10 states in terms of total federal income taxes paid:
Tax Burden as a Percent of Income
In general, the more income you make, the more taxes you'll pay; but other things affect your tax burden as well. How you make your income and what kind of deductions you claim also have an impact.
Naturally, the District of Columbia topped the list; but Mississippi was the only state where adult residents paid an average of less than 11% of income in federal taxes. The average percentage federal tax burden in Mississippi is 10.67%.
Looking at federal taxes paid as a percentage of income yields several of the same names that appeared on the list of taxes paid per capita, but there are also some differences:
Thank yous valued poster!
BAHHAAAAAA
