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How much do the Feds collect in taxes from the city each year? How much more will they collect in the future because the city floods less? A few hundred million
by mikeash 8y ago
How much do the Feds collect in taxes from the city each year? How much more will they collect in the future because the city floods less? A few hundred million dollars to protect a major city sounds like an incredible bargain with a great ROI.
- selectodude 8y agoNew Orleans is a pretty great place, but in no way is it a major city.
- mikeash 8y agoWhatever you want to call a metro area of over a million people with a GDP approaching $80 billion, a few hundred million to protect it seems cheap.
- thanatos_dem 8y agoWhere’s the $80B number coming from? From the sources I found (from 2017) GDP per capita is $52,536 (from Open Data Network), and population is 393,292 (US Census Bureau), giving a GDP of right around $20B. We’ve already spent 14 on it, and will continue to need to spend indefinitely, so the numbers really aren’t great.
- mikeash 8y agoMetro area, not just the city proper. https://www.frbatlanta.org/economy-matters/2015/08/20/new-orleans-10-years-after-katrina https://www.frbatlanta.org/economy-matters/2015/08/20/new-or...
- thanatos_dem 8y agoAs of 2017 Louisiana has a Balance of Payments of $17.7B, meaning they receive that much more in federal funding than they pay in taxes [1] I say it’s time to move people to somewhere above sea level and let NOLA return to being the river delta it is so desperately trying to be. [1] https://rockinst.org/issue-areas/fiscal-analysis/balance-of-payments-portal/ https://rockinst.org/issue-areas/fiscal-analysis/balance-of-...
- mikeash 8y agoWhat is the figure for New Orleans specifically? Looking at the entire state isn’t terribly informative.