That’s the canary in Bernie Sanders’ coal mine. A Bernie election would see capital flight like we’ve never seen.
How people earn money is as important as if they earn any at all.
I heard one of the largest “satellite” offices for GS is in Chappaqua, NY.
The priniciple of Comparative Advantage applies to GS and Wall St. as much as anything else. Many of their functions do not require physical presence in the NYC or other metro areas, and employees can live anywhere in the US and telecommute. But when it comes to living outside the US, then once again Trump is right about corporate inversions and the return of capital, which is far more important and impactive than whether GS puts a hundred researchers in Bangalore.
To me, it’s all about the delay from the cable head to the location where their computers do their magic and the delay contained therein.
Painful to see the everything that made this country great go down the drain. Over regulation and those behind closed doors un-elected ABC regulatory Nazi political shakedown artists.
Liberal politicians and their policies are very capable of taking NYC to its knees.
Interesting read from a year ago re NYC (and similar venues):
http://www.americanthinker.com/articles/2014/02/new_york_city_a_pay_more_get_less_sinkhole.html