Trump says upstate New Yorkers should move, leave homes behind

[WNYresident]

President Donald Trump says that upstate New Yorkers should pick up and move to states like Wisconsin, which have better job prospects, leaving their lives and homes behind, according to comments he made to the Wall Street Journal.
“You’re going to need people to work in these massive plants,” Trump said, according to an interview with the Wall Street Journal Tuesday. “…I’m going to start explaining to people: When you have an area that just isn’t working like upper New York state, where people are getting very badly hurt, and then you’ll have another area 500 miles away where you can’t get people, I’m going to explain, you can leave. It’s OK. Don’t worry about your house.”

http://blog.timesunion.com/capitol/a...-homes-behind/

It is unclear if New York state had been trying to win the same project, potentially for a state-owned site in Utica, but Trump’s remarks could be seen as dismissive of New York’s economic development efforts. A spokesman for Gov. Andrew Cuomo’s economic development czar, Howard Zemsky, could not immediately be reached for comment.

Unless you are going to lower the cost of "government" across the board for everyone people will move out.

[4248]

Its amazing how every word the President speaks - is spun by the Dems/Media to discredit him and aggravate voters/taxpayers.

[HipKat]

Are we winning yet???

[WNYresident]

Are we winning yet???

I'm very happy with how my IRA/investments have been performing since he won office

[HipKat]

I'm very happy with how my IRA/investments have been performing since he won office

d the Stock Market has been on

Uh huh, thank God the Stock Market has been on the rise for the past 9 years

http://www.macrotrends.net/1358/dow-...-last-10-years

[grump]

d the Stock Market has been on

Uh huh, thank God the Stock Market has been on the rise for the past 9 years

http://www.macrotrends.net/1358/dow-...-last-10-years

Yeah, Hip, but remember before election when the Fake News reporters at CNBC, NYT, Buffalo News and all the rest were warning that Trumps election would cause a market crash as bad as '29. Instead the market surged. Right now, Janet Yellen and her band of useless academics are trying ti find ways to undermine the economy and blame it on Trump. There are no lengths to which the Dems will go because Trump pulled the taxpayer funded and ISIS funded gravy train right out from under the Dems by beating Hillary. Don't forget Hip, Morocco give Bill and Hil $12 million right before the election. Who knows how much the Arabs showered on her and Obama for allowing the Arabs to kill a US ambassador without any US intervention and then for their participation in the coverup.

[WNYresident]

d the Stock Market has been on

Uh huh, thank God the Stock Market has been on the rise for the past 9 years

http://www.macrotrends.net/1358/dow-...-last-10-years

In the end the only item that means anything to me is the dollar amount I end up with. Saying the market has been rising for 10 years is an baseless statement unless you can compare it to something relative.

Under one president the market can gain 25 points a year for 8 years and your comment is true. On the other hand the market can gain 500 points a year for 8 years under another president and your comment is still true. Which scenario is better? The president who gained 200 points or 4000 points? My comment is based on the same starting point in the market for either president.

[leftWNYbecauseofBS]

The stock market has very little to do with manufacturing jobs and the middle class. That's what Trump is talking about, so I am unsure why it's being mentioned here. Just over half of Americans own stocks, and the median portfolio is less than $30,000. Numbers are fluid of course, but it still makes the point. Put it this way, if you're around 40 and not in line for a pension, you should have a portfolio between $200,000 to $400,000. The median portfolio is less than $30,000. Let that sink in.

For the middle and lower class, what needs to be talked about is debt not investments. The average credit card debt is around $16,000. When you factor in everything, including a mortgage, it's close $130,000. Then if you look at millennials, they average around $40,000 in student loan debt. So pointing to the DOW gains over a Presidential term or for the last 40 years if f'n silly.

When you have debt you can't save. When you have debt you sure as hell can't invest. Lower skill and low educated labor need to live in places where 1) there are the most jobs, 2) the taxes are the lowest and 3) the likelihood to incur debt is low and lastly 4) home values are going to see a reasonable appreciation. This is not WNY, no matter how much 'Buffalove' you throw around.

Fools in Buffalo like to brag about how the swings in the RE market miss them. How the slow and steady is better. They are idiots. Unless you were someone who should have not been in the home market to being with or used your home as a credit card, any losses have already been returned. For those who entered the market after, they are seeing large gains. Real Estate, owning it, is the last viable path for most of Americans to create some sort of nest egg.


If you are chugging along in a home, you purchased for $175k 20 years ago that's now worth just $275k, but the entire time you have been paying close to $5k to $7k in taxes...you have been screwed. In other parts of the US not only is the appreciation much better over the 20 years but the tax bills were half. Instead of people in WNY being able to pay for their own debt they have been taxed to death in pay for the local government's debt. Debt from all of the BS that's been discussed here.

Even worse, when these folks need to cash out on whatever equity they have gained, they need to find someone who's willing to buy into the high tax area. Not always an easy thing to do when the lower half of the economy doesn't exist unless massive public funds are used to prop it up....which in turn leads to higher taxes.

[WNYresident]

If you are chugging along in a home, you purchased for $175k 20 years ago that's now worth just $275k, but the entire time you have been paying close to $5k to $7k in taxes...you have been screwed. In other parts of the US not only is the appreciation much better over the 20 years but the tax bills were half. Instead of people in WNY being able to pay for their own debt they have been taxed to death in pay for the local government's debt. Debt from all of the BS that's been discussed here.

Even worse, when these folks need to cash out on whatever equity they have gained, they need to find someone who's willing to buy into the high tax area. Not always an easy thing to do when the lower half of the economy doesn't exist unless massive public funds are used to prop it up....which in turn leads to higher taxes.

Exactly...


That extra amount we pay in property taxes is money that could be in our IRA/investments. Basically missed opportunities investing in your own nest egg. Let's say your property taxes are $5k a year. Move to another state and your taxes are most likely 1/2. That extra $2500 a year

I should be working but


Let's say you leave NYS at 34 years old.

At 35 you realize the new place you moved to has schools, water, heating, cooling and shopping. Everything you had in NYS minus the "government" hacks and BS. We will have someone point out an extreme like.. Well if you move to AZ your electric bill will be expensive because of the heat. True.. SO DON'T move to AZ.

You decide to take the $2500 you are saving in property taxes and bank it instead for 30 years.

You'll start making a $209 payment into your investment account and you pick something safe at Fidelity averaging 4%

Your initial balance was $0 and after 30 years you will have $146,287 to supplement your retirement.

Do a little home work and you should be able to manage your own funds and do 7% so in 30 years you will have $253,491

Or

Know the right people who know how to manage money and build wealth and do better.


I just skimmed some of my stuff. A few examples.

Fidelity Contrafund average return life of Fund per year 12.42% Year to date 22%

FIDELITY NEW MILLENNIUM average return life of Fund per year 13.21%

FIDELITY SELECT BIOTECHNOLOGY average return life of Fund per year 13.63% Year to date for this is 27.72%


I was playing with this. I'm pretty sure my math is correct.

https://www.daveramsey.com/smartvest...ent-calculator

[HipKat]

No, the middle class is what I'm talking about. The middle class that's going to suffer more when Trump enacts his tax cuts for the rich and let's the middle class pick up the slack.

[BorderBob]

"Don't worry about your house" Oh, yea, the bankruptcy king. I forgot.





b.b.

[WNYresident]

"Don't worry about your house" Oh, yea, the bankruptcy king. I forgot.





b.b.

Law/rules that are on the books. I'm pretty sure those are the rules he followed. No different than laws/rules that allow government employees to pad their retirement to abnormally high levels. Rules are rules. Agreed?

[Save Us]

New Yorkers are leaving regardless of what Trump says. The state is a joke. But don't worry we'll make up the numbers with refugees...

[HipKat]

Yeah, Hip, but remember before election when the Fake News reporters at CNBC, NYT, Buffalo News and all the rest were warning that Trumps election would cause a market crash as bad as '29. Instead the market surged. Right now, Janet Yellen and her band of useless academics are trying ti find ways to undermine the economy and blame it on Trump. There are no lengths to which the Dems will go because Trump pulled the taxpayer funded and ISIS funded gravy train right out from under the Dems by beating Hillary. Don't forget Hip, Morocco give Bill and Hil $12 million right before the election. Who knows how much the Arabs showered on her and Obama for allowing the Arabs to kill a US ambassador without any US intervention and then for their participation in the coverup.

The market has surged many times and btw, unless you're in the market, it means nothing to people that aren't. Not one thing and take that stupid fake news term and shove it up your ass. So sick of these stupid keywords that people use when convenient to try and defend their position

[grump]

Fake news, fake news, fake news e.g. lyin' Brian Williams, the NYT article about Russians &Trump that they were scrambling to cover after Comey's congressional testimony proved it false, an American ambassador was murdered because of some insipid internet movie no one ever saw or heard of...on and on it goes and all propagated by Democrats. You mean you don't make money in the stock market if you're not in the market? I'm flabbergasted! Here's a thought...elect totalitarian Bernie Sanders and he'll just steal their money for you. Don't believe me? Ask the folks at People's United Bank in Vermont. He and wife, Jane, took them for $6.5 million. I realized you were an idiot when you claimed in another thread that no other city in New York had suburbs like Buffalo. Try getting past Alden before you check out!!!