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New York’s wealthy taxpayers may not return, Cuomo fears
Fox Business ^ | 7/31/2020 | Brittany De Lea

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 ...


TOPICS: Chit/Chat
KEYWORDS: andrewcuomo; billdeblasio; cuomo; democrats; liberals; newyork; newyorkcity; ny; nyc; nypd; taxes
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To: Beave Meister

Cuomo and NYC officials would like to blame Covid-19 for the exodus out of the city, but, that exodus was happening for many years, albeit, at a slower pace before the pandemic.

But, let them claim another death due to coronavirus, that being the NYC economy. It’s always somebody else or something else to blame, and not the socialist policies that create the hostile environment that prevents the success of companies and people.


21 posted on 08/02/2020 8:14:30 PM PDT by adorno
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To: edwinland

Cuomo “was never that Great”.


22 posted on 08/02/2020 8:15:18 PM PDT by Paladin2
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To: Beave Meister

Cuomo’s getting screwed by Zoom, etc., with people realizing during the shutdown they never want to go to the office again. Sweet.


23 posted on 08/02/2020 8:16:08 PM PDT by GnuThere
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To: Beave Meister

““They left. They left because of COVID.””

They left because of you, moron.


24 posted on 08/02/2020 8:16:19 PM PDT by _longranger81 (Speak up for those who cannot speak for themselves; defend the defenseless; care for the unloved.)
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To: Beave Meister
...the state's financial situation may get worse if the city’s wealthiest taxpayers leave for good.

Once again, I can hear the voice of my buddy from Brooklyn saying "Ya think!?" Gosh, you enact policies and make public statements that are hostile towards you're wealthy residents and you wonder why they're suddenly no-longer your wealthy residents? Gosh I can't imagine why... :-/

25 posted on 08/02/2020 8:20:49 PM PDT by ThunderSleeps
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To: coloradan

Not in the suburbs. Prices rising. Some all cash.


26 posted on 08/02/2020 8:27:41 PM PDT by gcparent (Justice Brett Kavanaugh)
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To: Beave Meister
I am reminded of a story from the Vietnam War. A supply helicopter disappeared over the sea. No survivors, no wreckage, and no manifest. The battalion's supply sergeants took advantage of the situation and cleared their books by declaring every piece of missing or damaged property they were responsible for, from cutlery, to tents to hundreds of board feet of lumber, to have been aboard the lost Huey.

Some politicians are trying to do the same with COVID-19.

27 posted on 08/02/2020 8:39:58 PM PDT by Pilsner
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To: Beave Meister

One of our neighbors had some semi serious surgery and her grand daughter and 6 month old baby flew out to help in late Feb.. The GD was in finance and working/living in NYC.

The GD has been working from her new office at her grand parent’s granny home since mid April.

Everytime, she has thought about flying back to NYC, violence has broken out. As of this week, she is considering not flying back.

She, the baby and baby’s dad can live and work in a granny apartment at her grandparents for the cost of utilities. Their monthly NYC apartment rent is 5k per month plus utilities and other fees. The baby has bonded to his grandparents and they have bonded to him.

Before this CV BS is over, we will see adult children and their kids moving back into their parents/grandparents homes. Or the parents moving in with the kids to avoid nursing homes and sharing the cost of living.


28 posted on 08/02/2020 8:43:35 PM PDT by Grampa Dave (Does anyone know of any Democrat, who does the right thing for America/Americans today?)
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To: Beave Meister
It has NOTHING to do with Covid-19. People are leaving because he let the looters and rioters destroy the shopping areas and those merchants won't come back.

The homeless are taking over the streets. A neighbor who was recently in the city said Penn Station looks like a homeless shelter. They are also taking over the subway cars.

People are disgusted by the filth, the inability to travel the subways safely and the spike in shootings. If you can't eat out or shop or go see play or feel safe walking the streets what is the point of being in NYC?

29 posted on 08/02/2020 8:47:36 PM PDT by CaptainK ('No collusion, no obstruction, he's a leaker')
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To: Lurkina.n.Learnin

Is that show Million Dollar Listing Manhattan going to change it’s name to “You Name Your Price Listing?”


30 posted on 08/02/2020 8:47:52 PM PDT by Grampa Dave (Does anyone know of any Democrat, who does the right thing for America/Americans today?)
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To: Beave Meister

Clearly the problem is that DiBlasio hasn’t painted enough Black Lives Matter “murals” on the streets of New York City. Maybe he could cut a bit more out of the NYPD budget to fund more paint cans and rollers?

Those murals attract wealthy taxpayers like flowers attract bees.


31 posted on 08/02/2020 9:07:54 PM PDT by Junk Silver (Like a trampled spring and a polluted well is a righteous person who gives way before the wickedPR25)
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To: Lurkina.n.Learnin

More like Former Million Dollar Listings with Fags.


32 posted on 08/02/2020 9:17:22 PM PDT by Blue Highway
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To: CaptainK

DiBlasio has destroyed the city.

This was totally predictable.

A good mayor can turn it around—but in the meantime it is wise for folks who can to skedaddle.


33 posted on 08/02/2020 9:25:43 PM PDT by cgbg (Masters don't want slaves talking about masters and slaves.)
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
Best thing to do is, mass-murder some more people in nursing homes, cut police services, and raise taxes. Oh, and require masks, while playing favorites with which activities including business activities are permitted.

34 posted on 08/02/2020 9:26:11 PM PDT by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: matt04

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.

Hoist by their own petard or in this case, flattened by their own lockdown.


35 posted on 08/02/2020 9:29:40 PM PDT by Flick Lives (My work's illegal, but at least it's honest. - Capt. Malcolm Reynolds)
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To: Beave Meister

why would they return to NY knowing that if they ever end up in a nursing home, the governor would send China Virus infected victims into the nursing home upon EO?


36 posted on 08/02/2020 9:30:38 PM PDT by Bob434
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To: edwinland
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.

Democrats are working on laws that will give cities the power to tax people who move to the suburbs... Conservatives need to move out now while they still can.

37 posted on 08/02/2020 9:35:51 PM PDT by GOPJ (Leo Terrell - Michael Shellenberger - Stephen Hsu - Bari Weiss .- Bernell Trammell - John Kass)
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To: Beave Meister
Can't imagine why anyone (especially taxpayers), would want leave NY.🙄
38 posted on 08/02/2020 9:36:15 PM PDT by Pajamajan ( Pray for our nation. Thank the Lord for everything you have. Don't wait. Do it today.)
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To: Beave Meister

Well, don’t forget the ending of the SALT federal tax deduction.
The rest of America used to rebate the ‘rich’ up to 50% ( an estimate) of their New York taxes.


39 posted on 08/02/2020 9:40:08 PM PDT by mrsmith (US MEDIA: " Every 'White' cop is a criminal! And all the 'non-white' criminals saints!")
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To: Lurkina.n.Learnin

But if “Mr. Rich” moves to Dogpatch he’d likely save enough in taxes to make it financially advantageous to take a big loss selling that loft.
And he’d want to do it before the market for lofts fell.


40 posted on 08/02/2020 9:44:04 PM PDT by mrsmith (US MEDIA: " Every 'White' cop is a criminal! And all the 'non-white' criminals saints!")
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