Here’s a little bit of news:
New York City has imploded, with crime soaring and homeless people everywhere. Every day brings a new tale of an attack against an innocent person on the city’s street or subway.
To make matters worse, New York City is losing its top taxpayers. According to a study by the city’s Independent Budget Office, the city has lost 10% of taxpayers who earn more than $750,000 and 6% of those who make between $150,000 and $750,000.
The New York Post said many taxpayers are fleeing New York’s sky-high taxes.
And the latest study by the Budget Office only included data up to 2020. There’s no telling how many more have left since the COVID lockdowns that crushed the city.
The exodus is costing New York City billions. The Post reported in June that some 300,000 of the city’s wealthiest residents “earned $21 billion in total income in 2019, according to new data released by the Internal Revenue Service.”
That sum, the paper said, “represents the largest flight of capital from the Big Apple ever recorded.”
Now while I’m sure while that my Readers will share my chuckles of schadenfreude, there’s also the worrying caveat that these rich liberal assholes will infest parts of Free America that, quite frankly, shouldn’t have to put up with their baleful influence on our hitherto-happy, Constitution-loving homeland.
Unless, of course, they just increase the Liberal Asshole Quotient in places like Austin TX or Miami FL. It’s when they start voting in places like Plano or Boca Raton that the barrels of tar need to be warmed up and the pillows emptied of feathers.
I should point out too that these high-dollar asswipes’ incomes are of little actual value to places like Florida and Texas because unike NYFC, we don’t tax income. No, their only economic effect (and it’s a dubious one at best) is to drive local real estate prices higher — which helps sellers, of course, but also moves housing out of the reach of local middle-income folks.
Still, I guess anything that hastens NYFC’s slide into the abyss is welcome.
Then there is this From the New Yok Post. Adams and Hochel seem to recognize that The DeBlasio policies were maybe not a great idea. But of course – thier “solution ” is to spend more $ – not lower Taxes after acknowledging the exodus is a problem.
‘No, you leave!’ Eric Adams vows NYC will stick with 2% paying half of all taxes”
© Provided by New York Post
Gov. Kathy Hochul and Mayor Eric Adams announced a pro-business shared vision for a ‘new’ post-COVID-19 New York City at the Association For a Better New York’s event at Cipriani’s Financial District location.
Adams, 62, took the opportunity to forcefully stand behind the business community and let wealthy New Yorkers know he was on their side — a departure from his predecessor Bill de Blasio, who famously took high earners for granted, and whose spokesman told billionaires to “kick rocks” during the early days of the pandemic.
“To continually attack high-income earners where 50% of our taxes are paid by 2% of New York … It blows my mind when I hear people say leave,” the mayor said.
In a sensible jurisdiction ie where the average IQ is above 80, when there is an influx of residents the property developers see an opportunity and build housing. Supply matches demand and only in the exclusive suburbs with the most desirable addresses is there a price spike. However as this is Texas we shouldn’t assume too much.
The only drawback as you say is that these woke leftists will move and pollute free America.
NYC has it coming. Go bankrupt again. High tax rates are nothing more than an economic fence around a gated community.
As far as the rats go, NYC deserves them in spades. Get the art out of NYC and let the rats have the dump. I’ve been to NYC twice in my life and wouldn’t return. I went once because I had never been and the second time was for an exhibit at the MET. The crime and filth overcome any redeeming value of tat hive of villiany and scum.
JQ
Great places in Montana are being ruined by by New York and California assholes, among others. Shows like Yellowstone are loathed as they help bring more assholes to places like the Bitterroot, Gallatin, or Paradise valleys, sending home values into the stratosphere. People are now being taxed out of their own homes in some places, especially if you’re on a fixed income. Cites and counties that were solid red are now reliably blue. Montana is going the way of Colorado. We were going to retire back there as we’re currently exiles in Texas for employment, but it’s slipping out of our reach, further every year.
Don’t start chuckling just yet.
The tax payers that are leaving NYC, and California, will cause and
will continue to cause a worsening shortfall in revenues to the city.
Gee Wally, what are we gonna do now ?
Well Beave, we can’t just print money like the federal government does.
I know, we’ll go get the money we need FROM the feds. They can ALWAYS
print MORE !
‘Course that means the feds will have to RAISE TAXES AGAIN to cover what
we need but that’ll be spread over the whole country so it’ll be ‘FAIR’ for
EVERYONE and no one will complain !
And just who, dear readers, do you think is going to have to pay those
NEW TAXES to be given to NYC ( and others ) to ‘cover their losses ??
Yeah, that’s right, YOU AND ME. So I wouldn’t be happy about
NYC ( and others ) schadenfreude just yet ’cause it’s going to bite the
rest of us right in the ass !!
A move from Manhattan to Jersey or Connecticut could reduce those refugees taxes by 30-50%. That’s only moving from 5-20 miles. It would seem stupid not to do it.
Stupid Is As Stupid Does.
Any Rand wrote, “You’ll know it’s over when the lights go out in New York City”. That may yet come true.