Posted on 05/10/2020 3:53:32 PM PDT by RightGeek
For decades, the biggest portion of Washington expenditures has been retirement income sent to individuals from the federal government, principally in the form of Social Security or retirement benefits for federal workers. The studies track this money as it is sent to the states where people reside in retirement. New York has consistently ranked near the bottom in the amount of these funds that it receives because it’s not a desirable place to retire and has one of the highest rates of out-migration to other states. ... New York is a “donor” state insofar as its citizens take their retirement income and move elsewhere. Don’t blame Washington for that.
Federal contracts, dominated by Defense Department spending, represent a large pool of money counted as being “given” to some states. New York was once a defense-contracting powerhouse, raking in money to build ships along its waterfront and house military personnel in key bases around the state. But New York lost much of its contracting business because of its high costs. As a result, the Empire State ranks low on winning federal contracts, at a per-capita rate only one-third of the national average. Even worse, local officials have resisted efforts to bring in more defense money to the state.
...
New York officials also complain about a heavy federal tax burden. The Internal Revenue Service collects more money from New York than any state except for California. That’s a function not only of the state’s population size but also of its wealth; New York ranks third among states in the number of millionaire households. The progressive federal income tax, which taxes wealthy individuals at higher rates, cuts deep. But New York officials can hardly complain about this when its liberal congressional delegation supports that tax structure.
(Excerpt) Read more at city-journal.org ...
We need to see more articles about the ‘donor state’ hoax.
This is a good start.
A “progressive” tax code’s a bitch, ain’t it libtards, hahaha!
More liberal reasons for a massive federal bailout
This misses a huge area of federal spending. Although I haven’t been able to find the specific amount, as best I can tell, the largest area of federal outlays is redeeming government bonds. These payments go to where people buy government bonds. In the most usual comparison I’ve seen, taxes versus outlays, the money people pay for government bonds are not counted, because it’s not a tax. The money to redeem the bonds is an outlay, so that counts.
This creates the illusion that people who buy government bonds are a pure drain on the system. Actually, by lending the government money, they are helping to hold the roof up.
Since this is, as far as I can tell, the largest part of government expenditures, getting this backwards distorts any study of who is supporting the government, and who is draining it. I would not trust any comparison unless I see some indication that they got government bonds right.
BUMP
Well, the headline is true, they do donate a lot to illegal aliens and planned parenthood.
One argument against New York’s claim is overlooked. Just as New York did not want to be morally sullied by charitable help from Samaritan’s Purse because of its objectionable religious views, surely New York does not want to sullied by accepting cash from states where such views are common and accepted.
New York is a “donor” state insofar as its citizens take their retirement income and move elsewhere.....
This makes it more of a non recipient rather than donor state.
State and local taxes which are outrageous in NY, are a reason why they’re a donor state. People need higher salaries to cover their taxes, and the cost of living that taxes factor into. Higher salaries = higher federal taxes.
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