Gyroscopic Investing

Very deBlasio-like move. Adding a new higher tax bracket to the city income tax might be a good idea, but earmarking the money for the MTA is silly - it'll find plenty of other uses I am sure. How about reducing property taxes, Mr. Mayor, instead of increasing them 10-20% every year? Just because renters don't pay the tax directly doesn't mean they don't pay the tax. And they pay more of it than I do, because landlords aren't eligible for tax rebates.

The proposal is ridiculous. The MTA is actually the responsibility of New York State, not the city. And, the problem isn't lack of money. It's mismanagement, plain and simple. The MTA was running at a surplus not long ago, which it expected would evaporate due to rising pension obligations (remember MTA workers get to retire in their 40s). They've also had plenty of time to adjust their capital improvement plans after Hurricane Sandy - which in all fairness did a lot of damage that is still being repaired.

http://nypost.com/2017/06/21/mta-chief- ... ay-system/

Pugchief, what I found especially interesting (devious, really) was the subtle redefinition of “millionaire” in the quote you provided.

See today's Wall Street Journal Business and Finance Section Headline:
"Pensions' Rally Doesn't Close Shortfalls"

The headline pretty much says it all, but the article does delve into Illinois's continuing unfunded pension liability problem-- despite booming stock market returns. It wasn't mentioned, but I would assume New York has similar problems.

Watched a youtube video yesterday featuring Neil Cavuto interviewing a young college girl who was leading a campaign for free college tuition. Neil obviously wanted to know where the money was coming from and the girl kept saying that half of the world's wealth is owned by a certain number of people. I don't remember what the number was, but it was remarkably small. I don't know where she was getting that information but if true it's astounding.

So there you have it. All that money those rich folks have stored up could not only pay for free college tuition for everyone on the planet but also end world hunger and right every other economic injustice known to man.

Her logic was impeccable so why don't we get started today? Let governments seize all that wealth and in less than six months the world will certainly be a better place for all of us to live, don't you think?