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NYC to spend ONE Billion for TWO new ballparks, while it asks Feds for $20 BILLION more

Posted on 12/29/2001 12:13:30 AM PST by ken5050

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To: ken5050
Although the link isn't there anymore, I saved the article. I am not sure what is going on with Pataki, but there are quite a lot of twists and turns to him lately:

Pataki considers cigarette tax hike

By MARC HUMBERT Associated Press Writer December 4, 2001, 2:43 PM EST

ALBANY, N.Y. -- Gov. George Pataki, facing a multibillion dollar revenue shortfall related to the Sept. 11 terrorist attacks, is considering raising the state's already highest-in-the-nation cigarette tax by up to 39-cents per pack, sources said Tuesday.

The sources, familiar with the deliberations of Pataki's budget advisers and speaking only on condition of anonymity, said the cigarette tax increase was one proposal under consideration as the governor seeks to deal with a potential $9 billion revenue shortfall.

Pataki, during an appearance in nearby Troy with state Senate Majority Leader Joseph Bruno, refused to rule out such an increase.

"I'm not going to comment on any specific element of the budget because we haven't put it together yet," he said. "We're doing our analysis and we'll being making decisions over the course of the next few weeks."

But Pataki also warned, "It's going to be a very difficult year coming up and we're all going to have to look to see how we can tighten our belts, reduce costs and operate more efficiently."

Bruno, a fellow Republican who generally opposes tax increases, said he would wait to see the governor's budget proposal for next year before commenting.

Such a cigarette tax increase, first reported Tuesday by the Buffalo News, would raise New York's per pack tax to $1.50.

Currently, New York's $1.11 per pack state tax is the highest in the nation, although state of Washington voters last month approved a tax increase to $1.42 per pack, effective in January.

There has also been some talk among state leaders about delaying already scheduled tax cuts due to take effect next year, but Pataki and legislative leaders haven't yet come up with specifics.

State Assembly Speaker Sheldon Silver, a Democrat who perhaps fears voter backlash in an election year, has said he is willing to consider tax increases or delays in tax cuts--if they are proposed by Pataki.

Pataki has said the state's revenue shortfall, which he blames in large part on the economic disruption caused by the terrorist attacks on the World Trade Center, could be up to $3 billion for the state fiscal year that ends March 31. For the next fiscal year, the shortfall could be as much as $6 billion, Pataki has warned. The state's current budget is more than $83 billion.

The governor had indicated earlier that because of the serious fiscal problems, he had hoped to give the state Legislature his budget proposal for fiscal 2002-03 by the middle of this month, about one month before it is legally due. That, according to Pataki, would give the Legislature extra time to work on the spending plan.

But the governor said Tuesday he wasn't certain how soon he would be able to deliver his budget proposal, noting that key sales and estimated income tax payments are due this month and need to be analyzed.

"We want to do it as quickly as we can with the maximum amount of information we believe is necessary," he said.

New York has chronically late budgets. The budgets, for the fiscal year that starts April 1, have been late for 17 straight years.

In 1999, Pataki convinced the Legislature to raise the state cigarette tax by 55-cents per pack, effective March 1 of last year. At the time, the increase was expected to raise an extra $340 million annually.

Supporters of the move said it would reduce smoking while opponents said it would hurt convenience stores and drive customers to Indian reservations or to other states where they could obtain cheaper cigarettes.

Also Tuesday, mayors from across the state held a news conference in Albany to caution state leaders that cities couldn't afford to have the state's fiscal problems shifted onto their shoulders. And, the state School Boards Association warned that with major increases in state aid unlikely school districts needed changes in state law to make it easier for them to cut costs.

Copyright © 2001, The Associated Press

21 posted on 12/29/2001 12:14:10 AM PST by SheLion
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To: The Drowning Witch
Here Ya go.

New Yawwwwk Post

22 posted on 12/29/2001 12:14:10 AM PST by Neets
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To: ken5050
He's cut back from 10 strippers. Give him a break!
23 posted on 12/29/2001 12:14:10 AM PST by NativeNewYorker
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To: ken5050
My guess is that it will never happen. The problem for the Yankees and Mets is that they have zero leverage here -- every other jurisdiction in the region that might be used as a "competing location" for a new stadium (New Jersey, Yonkers, Long Island, etc.) is flat broke and therefore cannot offer even a nickel to build a stadium for either team. New Jersey can't even figure out how to keep two of its own teams (the Devils and Nets), let alone attract another one.

It is also my hope that the state of Minnesota loses all of its professional sports teams and sets an example for the entire nation. Once the rest of the country sees how much better off a place is without them, the entire industry of professional sports will collapse.

24 posted on 12/29/2001 12:14:10 AM PST by Alberta's Child
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To: ken5050
If NYC has an extra billion they can use to finance these stadiums, then why are they asking the rest of us taxpayers to bail them out including those in Upstate NY? I really object to financing anything for Steinbrenner period after all the money he gives his players! Tell Rudy and NY Yankess and Mets to take a hike!

And then we have the two moron Senators from NY wanting even more money for NYC. Enough is enough. BTW did NYC ever pay back the money they were given as a bailout when they were going bankrupt? They have been a drain on Upstate NY for many years!

25 posted on 12/29/2001 12:14:10 AM PST by PhiKapMom
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To: ken5050
So, the citizens of the rest of the country are being asked to subsidize baseball in NYC, and make the likelihood of future subway series even greater.

You obviously have not thought about all the tax revenues generated from these teams. Whenever a new stadium is built, the city it is built in almost NEVER loses money. The net impact on taxpayers is either a wash or a net gain.

Also, I don't believe any federal money is going towards the stadium projects. Its a combination of state/city/team money. If you are trying to say that the WTC federal disaster relief money is somehow going to be diverted to the stadiums - what is the basis for that accusation? Your opinion?

Let's say instead of having the Yankees move to NJ, they get a new stadium and stay in NY City. Assuming the Yanks new stadium will be 1/2 the current projected cost of $800 million. Over a 20 year period thats $20 million, plus interest, per year (roughly speaking).

The upcoming payroll for the Yanks is gonna be $150 million. What is the city wage and state income tax burden? Not being a New Yorker, for these millionaire players I'll guess 5% city and another 7% for state. Thats 12% of $150 million, or $18 million per year. When you add the taxes collected for wages of front office personnel, wages of construction workers, wages and sales tax from vendors, taxes on tickets, restaurantes, hotel rooms, airline travel, memorabilia, parking receipts etc., etc., etc., Well, you get the picture.

26 posted on 12/29/2001 12:14:12 AM PST by Go Gordon
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To: ken5050, RikaStrom, anniegetyourgun
You get a WFTD Honorable Mention for the use of both "stadia" and "referenda" in the same post.

(Note to Rika and Annie: Perhaps next week our class can add Latin Plurals to the curricula, thereby exercising our collective crania.)

Still being,

27 posted on 12/29/2001 12:14:12 AM PST by Silly
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To: abandon
The voters of NYC are by far the stupidest in the nation.

Yes we are.

28 posted on 12/29/2001 12:14:12 AM PST by montag813
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To: SheLion
I love my Mets, but I do not believe the taxpayers, not all of who are baseball fans, should be made to foot the bill for a new stadium. Would Rudy build a new store for any other business?
29 posted on 12/29/2001 12:14:14 AM PST by CaptRon
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To: ken5050
hey........it never hurts to see if we can get away with it.

we been getting screwed by both parties for so long in NYC that its paybacks time . For decades we've paid out about twice in Federal taxes in terms of what we get back .

NYC could use a little pork the rest of you guys been getting for years .

30 posted on 12/29/2001 12:14:15 AM PST by Ryeoc
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To: Go Gordon
Wrong on ALL counts....several studies have shown that public financing of sports stadia does NOT produce jobs or revnues for the municipality in excess of the costs incurred.....and if the city didn't have to lay out the one billon, it would need one billion LESS in aid, right?
31 posted on 12/29/2001 12:14:15 AM PST by ken5050
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To: Silly
I am honored, and humbled....and I accept your award..(g)
32 posted on 12/29/2001 12:14:18 AM PST by ken5050
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To: ken5050
I'm sick of taxpayer money being used to finance stadiums while owners of these teams shell out mega-millions to their players and continue to jack up ticket prices so that only corporations can afford the good seats that are then doled out to clients. Actually I have no problem with what professional sports teams pay their players and how much they charge for seats, provided that they don't hit the taxpayers up for money to build the stadiums.

It's time that professional sports got taken off of public-assistance.

As for Guiliani, he also made a stupid statement yesterday, attacking Boston and San Diego as being "lesser" cities than New York. What was the purpose of that?

33 posted on 12/29/2001 12:14:21 AM PST by SamAdams76
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To: ken5050
Witch Hillary has not been able to get into New York tax money for her personal use, but, she seems to think Federal tax money belongs to her. What can you expect from a Land Scam artist that took peoples retirement money for her personal use.
34 posted on 12/29/2001 12:14:21 AM PST by Texbob
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To: Silly; Rika Strom
I'm sure Rika will see to it on Freeper campi.....
35 posted on 12/29/2001 12:14:24 AM PST by anniegetyourgun
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To: ken5050
ABSOLUTELY NOT!!! I am a diehard Mets fan and LOVE the current Shea. I don't give a damn who thinks otherwise.

BTW: The current Yankee Stadium is a depressing dump, but let's keep it for the history.

36 posted on 12/29/2001 12:14:26 AM PST by Clemenza
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To: Go Gordon
Several disingenuous arguments. The city takes in revenue from the teams now-- the issue is whether a new facility would bring in additional revenue. This incremental revenue is the only issue with New York stadiums because they're not going anywhere.

The money for the stadiums is not Federal money, but Federal money will be used to shore up the city's finances, while the city spends money on a stadium. Money being fungible and all that, it will be Federal money used on the stadium.

It's not like I'm against the stadium on principle, but I would like to argue it out on the facts.

37 posted on 12/29/2001 12:14:27 AM PST by big gray tabby
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To: Go Gordon
I believe that the NY tax only gets paid for the home games.
38 posted on 12/29/2001 12:14:28 AM PST by glorgau
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To: Rodney King
"The voters of NYC are by far the stupidest in the nation."

I dunno about that, they're at least as stupid as the voters in south Florida.

39 posted on 12/29/2001 12:14:29 AM PST by slouper
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To: Go Gordon
No more city taxes from the ballplayers. Non-resident tax eliminated about two years ago. I doubt too many ballplayers live within the five boroughs.
40 posted on 12/29/2001 12:14:29 AM PST by undergroundwarrior
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