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Nobody is stopping you from paying more taxes. If you feel so generous, do it with your own money. You can always send a check to the IRS, they will welcome it. But you are nobody to decide for everyone else. What's fair... 50% 60% 70%? When does it end? I'm a regular blue collar, bust my ass guy but I never envy or hate the rich. God bless them. But the rich are mobile, they can up and leave whenever they want. Keep asking for more and soon enough they are gone. It's why socialism fails...eventually you run out of other people's money. I dont comprehend why people can't grasp the concept...
I would have no problem if rich people up and left NYC. Why should I care that they state here? Where they chose to live is ultimately not my problem.
Anyone who understands economics even a little cares a LOT about the rich fleeing NYC.
You should care more about the middle class not fleeing than the rich. A true mark of prosperity is how small the gap is between the haves and the have nots. Cities, or nations, that do the best in terms of overall quality of life measures, often have a very sizable middle class, not a handful of billionaires, and a great number of impoverished/working class people.
You mistakenly believe that having very rich people in NYC will improve your quality of life, but actually the opposite is true. They do pay more than a non rich person in taxes, but the problem is, they never pay the actual amount that they should, based on their overall income/investment earnings.
Also, when rich people move into areas, everyone else is priced out. Perhaps you like all of the luxury condos that pop up throughout NYC, but what about housing for the middle class? Why are there limited options for those who'd like to purchase a condo (larger than a shoe-box) in a decent area in the City.
I simply don't understand why so many people on this forum prefer to have millionaires than middle class entrepreneurs/ small business owners. If you truly understood economics, you would want more middle class people in NYC.
You should care more about the middle class not fleeing than the rich. A true mark of prosperity is how small the gap is between the haves and the have nots. Cities, or nations, that do the best in terms of overall quality of life measures, often have a very sizable middle class, not a handful of billionaires, and a great number of impoverished/working class people.
You mistakenly believe that having very rich people in NYC will improve your quality of life, but actually the opposite is true. They do pay more than a non rich person in taxes, but the problem is, they never pay the actual amount that they should, based on their overall income/investment earnings.
Also, when rich people move into areas, everyone else is priced out. Perhaps you like all of the luxury condos that pop up throughout NYC, but what about housing for the middle class? Why are there limited options for those who'd like to purchase a condo (larger than a shoe-box) in a decent area in the City.
I simply don't understand why so many people on this forum prefer to have millionaires than middle class entrepreneurs/ small business owners. If you truly understood economics, you would want more middle class people in NYC.
Its not a binary choice. People don't want either of the groups to "flee". They want the middle class but they also know the source and nature of the city's income, and the disproportionate skew to a relatively low number of people. You can argue till the cows come home that the "rich" don't pay enough of a percentage of their gross, but for the city, the bottom line is the absolute amount they do actually pay, and the proportion of the city's income they pay.Your finger-wagging that they should pay more and they should be ashamed of themselves - go to Albany to get the tax code changed. The Mayor has an actual budget, and actual bills to pay and actual programs to fund. He has an actual amount of money to do that. And the majority of that actually comes from somewhere which is not a money tree in Central Park.
NYC already has some of the highest taxes in America and the rich live here anyway, because they can afford it and they want to. A miniscule increase in the top marginal tax bracket is not suddenly going to change that.
NYC already has some of the highest taxes in America and the rich live here anyway, because they can afford it and they want to. A miniscule increase in the top marginal tax bracket is not suddenly going to change that.
A lot of rich people indeed live here but they don't have NYC as their main tax address. But the city still benefits from the other taxes they do pay...
A lot of rich people indeed live here but they don't have NYC as their main tax address. But the city still benefits from the other taxes they do pay...
Right. Bottom line is--rich people are already willing to pay huge taxes in NYC. The increase de Blasio is proposing is relatively tiny. It's not going to make the rich flee.
Also if some of the rich fled it wouldn't really be so bad.
Its not a binary choice. People don't want either of the groups to "flee". They want the middle class but they also know the source and nature of the city's income, and the disproportionate skew to a relatively low number of people. You can argue till the cows come home that the "rich" don't pay enough of a percentage of their gross, but for the city, the bottom line is the absolute amount they do actually pay, and the proportion of the city's income they pay.Your finger-wagging that they should pay more and they should be ashamed of themselves - go to Albany to get the tax code changed. The Mayor has an actual budget, and actual bills to pay and actual programs to fund. He has an actual amount of money to do that. And the majority of that actually comes from somewhere which is not a money tree in Central Park.
And if the "rich" fled, obviously the city would have to adjust its budget accordingly. Life would go on for the world as a whole.
Much of the city budget is spent on nonsensical things anyway, including a massive welfare state. The city is a place that rewards you if you are either filthy rich or if you get on welfare. Working class people are pressured to the extreme.
So again, if the current system collapses due to rich people fleeing the city and there being a lot less money to support the current incarnation of a wasteful welfare industrial complex, GREAT!!!! Its not a healthy system anyway.
You should care more about the middle class not fleeing than the rich. A true mark of prosperity is how small the gap is between the haves and the have nots. Cities, or nations, that do the best in terms of overall quality of life measures, often have a very sizable middle class, not a handful of billionaires, and a great number of impoverished/working class people.
You mistakenly believe that having very rich people in NYC will improve your quality of life, but actually the opposite is true. They do pay more than a non rich person in taxes, but the problem is, they never pay the actual amount that they should, based on their overall income/investment earnings.
Also, when rich people move into areas, everyone else is priced out. Perhaps you like all of the luxury condos that pop up throughout NYC, but what about housing for the middle class? Why are there limited options for those who'd like to purchase a condo (larger than a shoe-box) in a decent area in the City.
I simply don't understand why so many people on this forum prefer to have millionaires than middle class entrepreneurs/ small business owners. If you truly understood economics, you would want more middle class people in NYC.
I'm not mistaken about anything. I didn't say that we need to foster the rich at the expense of the middle class. We most definitely need a strong middle class here (everywhere), but with the amount of poor NYC supports, the city needs a large population of "the rich" to coddle them. It would take easily triple the sized middle class NYC currently has to support the poor class we have here. And the middle class certainly cannot afford to pay more to support wasted lives like "the rich" can.
If the rich flee, the middle class will follow close behind, especially since the middle class is already leaving.
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