Middletown Forum : TAX MATH??? http://www.middletownusa.com/forum/ This is an XML content feed of; Middletown Forum : City Income and Property Tax : TAX MATH??? Tue, 06 Oct 2026 02:36:27 +0000 Sun, 15 Aug 2010 15:29:03 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 10.12 360 www.middletownusa.com/forum/RSS_post_feed.asp?TID=3212 Middletown Forum http://middletownusa.com/images/blog-logo.jpg http://www.middletownusa.com/forum/ TAX MATH??? : More than likely the money for... http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20780&title=tax-math#20780 Author: Hermes
Subject: 3212
Posted: Aug 15 2010 at 3:29pm

More than likely the money for the culinary school will come from the same place the money for the PAC came from....tax payers pocket.
 
It's a friggin shame they can afford to give away tax money for the PAC and then not do a damn thing for the cemetery. These people are fools or they think the people are. ]]> Sun, 15 Aug 2010 15:29:03 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20780&title=tax-math#20780 TAX MATH??? : MikeIf we cut this deal for PAC... http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20776&title=tax-math#20776 Author: Vivian Moon
Subject: 3212
Posted: Aug 15 2010 at 11:06am

Mike
If we cut this deal for PAC you must ask yourself what kind of a deal is the City going to give the Culinary School? Where will this money come from?

]]> Sun, 15 Aug 2010 11:06:32 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20776&title=tax-math#20776 TAX MATH??? : Hermes wrote: But with the... http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20767&title=tax-math#20767 Author: Mike_Presta
Subject: 3212
Posted: Aug 14 2010 at 7:12pm

Originally posted by Hermes Hermes wrote:

But with the "behind closed doors" dealing I am assuming that this business may qualify for tax exemption ??
 
Who knows???
 
In fact, who knows what surprise goodies might be included at the expense of of the hardworking taxpayers???
 
After all this time. here we are, as of the Friday before the meeting when this proposition is to be voted upon, with council members seeming to have no questions and being ready to enthusiastically pass this boondoggle, and mysterious Exhibits B and C are STILL being hidden from the public!!!
 
How can ANY council person vote for this IN THE BLIND and possibly say that they are representing the best interests of the city when they do not even know what they are voting for???
 
Or, could it be that they all already know what is in Exhibits B and C, and just want to keep THE BAG HOLDERS (the taxpayers) in the dark???
]]> Sat, 14 Aug 2010 19:12:50 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20767&title=tax-math#20767 TAX MATH??? : Good points Mike....and considering... http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20762&title=tax-math#20762 Author: Hermes
Subject: 3212
Posted: Aug 14 2010 at 10:04am

Good points Mike....and considering that a starving artist sale usually garners $20-$50 bucks per painting I'd guess it will take 20 years to make that money back. Remember what Verdin said about the Cincinnati deal....it takes 20 years.
 
It only took Picasso,Rembrandt and all those guys a hundred years to turn a big profit.
 
But with the "behind closed doors" dealing I am assuming that this business may qualify for tax exemption ??
 
And another thing....where are these artist buying their supplies ? Do we have any art supply stores in town ? Will they purchase bulk off the web ? Spend their money in other cities at art supply stores ? ]]> Sat, 14 Aug 2010 10:04:55 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20762&title=tax-math#20762 TAX MATH??? : Do the tax math! How much “art”... http://www.middletownusa.com/forum/forum_posts.asp?TID=3212&PID=20761&title=tax-math#20761 Author: Mike_Presta
Subject: 3212
Posted: Aug 14 2010 at 8:18am

Do the tax math!

How much “art” will our new starving artists have to sell just to pay back the taxpayers for Mr. Verdin’s $200,000 loan and $250,000 in improvements?

Let me save you the trouble!!! IF (and most of these are big “if’s”):
  1. All artists declare all sales.
  2. All artists file Middletown income tax forms.
  3. No sales are made over the internet.
  4. No work product is taken out of town and sold.
  5. Artists all fail to deduct their expenses.
  6. Our 0.0175% income tax manages to get collected.
Then ONLY a little over $25.7 MILLION dollars worth of art will have to be produced and sold out of the proposed PAC-Middletown for the taxpayers to get their CASH investment back!!! 
 
Such a deal!!!
 
Do City Council members realize that, no matter where it comes from (local, state, or federal), someone, somewhere actually has to WORK to get the money to pay the taxes that they are spending???  How long must YOU work to earn $450,000???
 
Will ALL of these artists at PAC-Middletown actually be doing this for a living???  Or for most, will it really be a hobby???
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