Posted on 08/02/2020 7:37:49 PM PDT by Beave Meister
New York is faced with swelling budget holes as a result of the coronavirus pandemic, and the state’s governor is concerned the state's financial situation may get worse if the city’s wealthiest taxpayers leave for good.
This week, the state’s Democratic governor Andrew Cuomo voiced concern that the longer work-from-home policies are in place, the less likely it is that people who have left the city will return.
“In the old days we used to talk about people leaving Manhattan if the situation got bad, if taxes went up, if quality of life deteriorated,” Cuomo said on a call with reporters Thursday. “They left. They left because of COVID.”
Many wealthy individuals abandoned Manhattan for nearby suburbs, or other states entirely, to escape the densely-populated metro as it became an epicenter of the virus outbreak earlier this spring.
Moving executives told FOX Business that the exodus from New York City during the past few months has been “insane.”
Roadway Moving President Ross Sapir, for example, told FOX Business that people are moving out of Manhattan in numbers he has “never seen before,” as his company deals with its busiest season since its 2008 inception.
And many of the residents who have left belong to higher-income brackets. United Van Lines CEO Marc Rogers told FOX Business that the majority of residents moving out of Manhattan, 61 percent, are earning over $100,000.
(Excerpt) Read more at foxbusiness.com ...
Its fake surprise. I am disgusted he expecs people to sit there and believe his obvious phoniness.
Well, if they are conservative, it’s ok with Cuomo, because he once said something about how conservatives are not welcome in New York state.
If the Constitution didn’t protect interstate travel, they would have have already put up a wall to prevent the “bourgeoisie” and “reactionary elements” (aka the evil people who pay >50% of New York’s taxes) from leaving.
Yup
” Are they these extreme conservatives who are right-to-life...? Is that who they are? Because if that’s who they are ... they have no place in the state of New York, because that’s not who New Yorkers are.
“the majority of residents moving out of Manhattan, 61 percent, are earning over $100,000”.
How much over $100K? $100K in Manhattan and surrounding boroughs is nothing. In many areas of NYC an income of $100k is working-class income. Same thing in many cities in California. In northern California, you can find numerous reports of engineers working for Silicon Valley Tech companies making $150-175K living out of RV’s and commuting some distance to work every day. The cost of housing is astronomical in many blue state cities.
NY State is literally sitting on a gold mine of natural gas reserves and this friggin’ idiot doesn’t want to develop it, which would generate billions of dollars in revenue and taxes from the jobs Marcellus Shale development would create. Even PA Governor Wolf developed his side of it.
Well, you and DeBlasio and Fauci made your beds; now sleep in them.
What do they do with their property? If you own a 3 million dollar loft it’s hard to just walk away. If people are leaving prices must be dropping.
What do they do with their property? If you own a 3 million dollar loft it’s hard to just walk away. If people are leaving prices must be dropping.
You built that Andy Pandy.
The prices are dropping. Substantially.
And by the way, I just noticed that when he said that, he not didn’t just display the typical leftist wet dream that all conservatives be banished or sent to gulags. He also let the mask slip.
He got so worked up he forgot to call anti-abortion people “anti-choicers” and instead correctly referred to them as “right-to-life”.
Now who would it be who sees red and can’t get over his anger when he encounters someone who believes in life?
Is that show Million Dollar Listing Manhattan going to change it’s name to 250k Listing?
How totally clueless........
Yep. If they kept it to 2-4 weeks people would probably move back, then they realized they could use it against Trump and now realize they messed up.
No tax revenues?
Ah ha ha ha.
Sunk cost.
Capital losses offset capital gains.
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