[Dilbert San Diego]

Cursory review of the internet indicates that the budget for New York City is $116 billion. So maybe the number quoted here is off a bit.

But the concept is still sound. A handful of extremely wealthy people are expected to pay a disproportionate amount of the city taxes. And if they move out, then that creates other problems.....

[bert]

Meanwhile......... the poor do not pay their fair share

[fhayek]

I am from Buffalo. There used to be a major employer called Bethlehem Steel, which had a plant in the adjacent city of Lackawanna, New York. Now the city of Lackawanna used to just rape Bethlehem Steel with their property tax levies. I think you could sum up the prevailing attitude of the local politicians with the phrase - "What are they going to do, leave?"

Bethlehem Steel didn't leave. Until they did.

[Presbyterian Reporter]

“”””Cursory review of the internet indicates that the budget for New York City is $116 billion. So maybe the number quoted here is off a bit.

But the concept is still sound. A handful of extremely wealthy people are expected to pay a disproportionate amount of the city taxes. And if they move out, then that creates other problems.....””””

---

I am in agreement. I think the NYC budget is around $116 billion.

The big hurt for NYC will come when the Corporations move their offices from NYC.

In today’s internet world there is less and less reason for a corporation to lease a huge office building located in NYC.

[griswold3]

A little over $112B
https://www.nyc.gov/assets/omb/downloads/pdf/adopt24/adopt24-expreso.pdf
Revenue (approx)
City funds $85B
NY state $19B
Fed. $ 8B