Why Do the Rich Want to Live in New York?

Given that everything is closed, I can’t see a reason, and a lot of it is likely gone for good. Taxing Thursday: It’s Up to You, New York, New York.

So the Left loves to go on about people paying their fair share… Does this seem fair?

It’s no coincidence, after all, that New York, where “1 percent of the population pays 50 percent of the taxes,” as Cuomo notes, has been steadily losing residents.

That is not a stable way to finance anything. In a state with about 19 million people, 1% is 190,000 people.

How many of those people need to move away permanently before the sting is felt in the budget?

There are a handful of states that have no state or local income tax. Where the weather is better than New York, and you can always visit. Assuming Broadway, the restaurants, etc. ever open again.

It’s the same in California where 0.5% of taxpayers are paying 40% of taxes. Who isn’t paying their fair share?

There is more, about the decimation currently happening in retail in New York City, Chicago and Palm Beach, Florida. Click thru, it is worth a few minutes of your time.

One thought on “Why Do the Rich Want to Live in New York?

  1. It’s no coincidence, after all, that New York, where “1 percent of the population pays 50 percent of the taxes,” as Cuomo notes, has been steadily losing residents.

    The last numbers I can find here on Federal income tax is that the top 1% of taxpayers pay 40% of all taxes, making New York somewhat worse than the feds. As you say, there are several states with no income tax but that make their revenues from property taxes and user fees.

    ISTR that in Massachusetts they instituted a wealth tax that affected like three people in the state. They moved. Tax revenues from that tax went to $0.

    I like the idea that people moving state to state should be ineligible to vote in statewide elections for some waiting period, to hopefully keep them from voting the same stupid policies into the states they moved to.

    Liked by 1 person

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