Posted on 12/13/2022 11:09:52 AM PST by ChicagoConservative27
A study shows that New York City has lost 10 percent of taxpayers earning over $750,000 and 6 percent of those who make between $150,000 and $750,000.
Nevertheless, leftists emboldened by the midterm elections are calling for even more tax increases on the wealthy:
A new city analysis shows that a huge chunk of high-income earners fled in 2020. Yet progressives refuse to hear the alarm bell: They’re pushing to “tax the rich” yet again instead.
The study by the city’s Independent Budget Office shows a 10% plunge in taxpayers who made over $750,000, and 6% of those with incomes between $150,000 and $750,000. These now-former New Yorkers will no longer pay hefty taxes to the city or state, leaving significantly less revenue to fund progressives’ pet projects.
…
Clearly, many taxpayers fled to escape New York’s off-the-chart taxes. Yet the radicals who increasingly dominate local politics want to slam those who haven’t left even more: Last Monday, a group of advocates and elected officials launched a campaign for a ludicrous $40 billion in new taxes on the rich.
(Excerpt) Read more at breitbart.com ...
Sucks to be you, New Yorkers.
There is something wrong with the math involved between the title and the text, but I am not going to waste my time explaining it.
“There is something wrong with the math involved between the title and the text, but I am not going to waste my time explaining it.”
Did they flee NYC or make less money?
“Sucks to be you, New Yorkers.”
Sucks to be in the cities they’re moving to.
X percent of one group plus Y percent of another group does not (necessarily) make (X+Y) percent of the whole.
But yes, your question is also valid.
Yes. Math is not Breitbarts strong suit. Sounds like it’s somewhere between 6-10%, not 16%.
yep
When Rush announced he was leaving NYC, the NYC Mayor at the time stated something to the effect ‘if we had known he would leave (Rush) we would have raised taxes long ago.’ A few Mayors later said that if we keep raising taxes, all the people that pay most of the taxes will leave.
Rush is smiling at this article. New York used to audit Rush every year. Rush even commented once that if he was in New York for ONE day, working, he had to pay taxes. He had to prove he was NOT in New York other days. After he moved to Florida (no State income tax) his radio and podcast intro stated ‘via New York City’ because there were people in New York involved in the broadcast. After New York pissed him off one too many times, he got rid of the ‘via New York City’ part, and explained it on the air.
Journalists are so stupid.
Nolte thinks most leaving NY’ers move due to taxes. Balderdash.
I think it much more due to these things he also mentions:
“...crime, violence, feces, a lack of housing, tent cities, bad schools, and illegal aliens being allowed to vote.”
Rich people have no problem with high taxes if they otherwise desire a location. They keep homes in many such places worldwide. They can also use high taxes as a shield if they leave due to other reasons.
They’ll move to Florida, ‘cause they don’t have the values of New Yorkers.
James Michael Curley, a four-time mayor of Boston, used wasteful redistribution to his poor Irish constituents and incendiary rhetoric to encourage richer citizens to emigrate from Boston, thereby shaping the electorate in his favor. As a consequence, Boston stagnated, but Curley kept winning elections. We present a model of using redistributive politics to shape the electorate, and show that this model yields a number of predictions opposite from the more standard frameworks of political competition, yet consistent with empirical evidence.
Early in World War I, a wounded British officer arrived in Boston to recruit citizens of the then-neutral United States to fight in the British army. He politely asked the by then legendary Irish mayor of Boston, James Michael Curley, for permission. Curley replied, ‘‘Go ahead Colonel. Take every damn one of them.’’ This statement captures Curley’s lifelong hostility to the AngloSaxons of Boston, whom he described as ‘‘a strange and stupid race,’’ and his clear wish that they just leave. Throughout his four terms, using a combination of aggressive redistribution and incendiary rhetoric, Curley tried to transform Boston from an integrated city of poor Irish and rich protestants into a Gaelic city on American shores.
Cuomo begs rich New Yorkers to leave Hamptons, return to NYC: ‘Come over, I’ll cook!’
It doesn't look like anyone took Andy's invitation to come back.
True that. And it's also not exactly smart to be one of the top taxpayers when a little homework reduces your tax liability in big ways.
I noticed that too, but we live in stupid times.
In the land of the blind, the one eyed man is...the slave to the blind. :(
Rush used to say that 18k New York families pay 90% of their taxes.
You loose just one and you are in serious trouble.
Math is for male white supremacist capitalist pigs.
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