The police aren’t policing and the teachers aren’t teaching. While many vital services aren’t functioning, the useless machinery of the bureaucracy grinds on with no one to pay for it. Locked down businesses don’t generate revenues and the unemployed aren’t a tax base.
Tax revenues in New York City fell 46% in June. A third of small businesses in the city are likely to shut down for good and sales tax collections are down by a quarter amounting to $1.2 billion.
Statewide, there’s a 37% drop, and Rep. Alexandria Ocasio-Cortez and other lefties are calling for higher taxes on the rich, staging protests outside the homes of billionaires. But the wealthy have the resources to pick up and leave while leaving failing states like New York with nothing.
Nothing except a $14 billion deficit and an 8.2% GDP drop.
“You have 100 billionaires. You will have to tax every billionaire half a billion dollars to make it up. You know what that means? That means you have no billionaires,” Governor Cuomo noted.
But the news is bad everywhere.
State revenue shortfalls are heading toward $200 billion and over $500 billion by 2022 as the wealthy flee urban areas, tourists are banned from even thinking about visiting, and businesses keep going out of business.
“If I stay there, I pay a lower income tax, because they don’t pay the New York City surcharge.”
Costs continue to grow for local, state and federal taxpayers in the K-12 space, as well:
Let’s compare: Middleton and Madison Property taxes:
Madison property taxes are 22% more than Middleton’s for a comparable home, based on this comparison of 2017 sales.
Fall 2020 Administration Referendum slides.
(Note: “Madison spends just 1% of its budget on maintenance while Milwaukee, with far more students, spends 2%” – Madison’s CFO at a fall 2019 referendum presentation.)
MMSD Budget Facts: from 2014-15 to 2020-21 [July, 2020]
Property taxes up 37% from 2012 – 2021.
MMSD Budget Facts: from 2014-15 to 2020-21
1. 4K-12 enrollment: -1.6% (decrease) from 2014-15 to projected 2020-21
2. Total district staffing FTE: -2.9% (decrease) from 2014-15 to proposed 2020-21
3. Total expenditures (excluding construction fund): +15.9% +17.0% (increase) from 2014-15 to proposed 2020-21
4. Total expenditures per pupil: +17.8% +19.0%(increase) from 2014-15 to proposed 2020-21
5. CPI change: +10.0% (increase) from January 2014 to January 202
6. Bond rating (Moody’s): two downgrades (from Aaa to Aa2) from 2014 to 2020
1. DPI WISEdash for 2014-15 enrollment; district budget book for projected 2020-21 enrollment
2. & 3.: District budget books
– via a kind reader (July 9, 2020 update).
2017: West High Reading Interventionist Teacher’s Remarks to the School Board on Madison’s Disastrous Reading Results
Madison’s taxpayer supported K-12 school district, despite spending far more than most, has long tolerated disastrous reading results.
My Question to Wisconsin Governor Tony Evers on Teacher Mulligans and our Disastrous Reading Results
“An emphasis on adult employment”
Wisconsin Public Policy Forum Madison School District Report[PDF]
Booked, but can’t read (Madison): functional literacy, National citizenship and the new face of Dred Scott in the age of mass incarceration