Posted on 06/18/2021 4:14:21 PM PDT by Texas Fossil
Even post-COVID, the exodus of wealthy New Yorkers will continue until the plague of city mismanagement also ends.
Goldman Sachs is relocating 100-plus key employees from the city to Palm Beach, Fla., to save money and grow its operations strategy beyond Wall Street. That includes partners who earn a million a year before typically far larger bonuses.
So while Wall Street execs who are pushing their people to return to the office make a lot of headlines, other CEOs are looking to move the entire office, or part of it, after the last 15 months proved how practical it is.
Notably, Bloomberg found that only 9,000 of the 19,000 New Yorkers who moved to Florida to ride out COVID say they definitely plan to return.
The wealthy have been fleeing the city all pandemic long, to lower-tax, lower-cost-of-living and lower-crime alternatives. That means big trouble ahead for those left behind, as the top 2 percent of earners supply 51 percent of New York’s income tax take.
Add in middle-class flight, and all the young upstaters leaving for lack of job opportunities, and you see why New York is one of just seven states to lose a House seat after the 2020 Census.
(Excerpt) Read more at nypost.com ...
Yes, there is an old trail from NYC to FL. They were once called Snow Birds.
I actually think it made sense long ago.
I wish them well in FL and feel very sorry to those who are "stuck" in NYC.
Frack, Baby, Frack...
I’m starting to wonder about this NY exodus. Traffic this past week is worse than ever, going back to 1982. Maybe heavy hitters split but middle class are out there MORE than last year befor covid.
We dont want these Lefty Locust .
Commies never change .
Look at all the stupid Jews that vote for the Israel hating /hamas terrorist loving party .
They would vote themselves into the railroad cars .
DAMN those evil rich bastards. They never pay their fair share.
“Exodus of the rich’ to Florida threatens disaster for NYC...”
😀
The problem is those wealthy folks are actually communists.
In commie countries, it’s not equal opportunity, it’s pay to play.
These folks have played well.
The excerpt says “...only 9,000 of the 19,000 New Yorkers who moved to Florida... say they definitely plan to return.”
Only 19,000 out of 8 million split and half of them are coming back? No wonder you don’t notice it. It’s not even a spit in the ocean.
Where’s dp022 lately to defend NYC? Hope he’s okay.
DeBlasio must have told them, in harsh terms:
“Y’all come back now, hear?”
The big bucks in taxes are paid by a remarkably few wealthy individuals.
Politicians with half a brain would be fighting to get them to live in their states...
Amazing.
You know those lights were bright on Broadway
But that was so many years ago
Before we all lived here in Florida
Before the mafia took over Mexico
There are not many who remember
They say a handful still survive
To tell the world about
The way the lights went out
And keep the memory alive.
-Billy Joel Miami 2017 (From ‘Turnstiles’ - 1975)
Yeah, they make all of that money and then they vote like welfare recepients. That is NYC rich for you.
Florida is going to turn blue just like Colorado.
Movie Fail Safe (1964) where they nuked NYC and they were sad
You're seeing more owners driving their cars instead of using mass transit, including Manhattan New York. A driving commute would have been unthinkable for them prior to March 2020 but with the reduced number of commuters and deliveries to businesses, they're driving.
People have been saying that for 20 years, bro.
May be.
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