Baltimore's a wealthy area! (construction, school, maintenance)

[Infinite_heights77]

Didn't Forbes Magazine place San Franscisco and New York City tops of the list for having the most millionaires of any city?

I don't dilemma with rich and wealthy people and institutions as long as they channel and fuel into positive, progressive and prosperous ventures.

[picardlx]

Originally Posted by Infinite_heights77

I was contemplating the same idea, but wanting to take another approach on why the wealthiest in Baltimore don't spend their wealth the way New Yorkers and San Franciscans in developing certain cultural, social and intellectual amenities and institutions do in their cities?

I’m sure there are wealthy individuals who undertake such efforts for purely altruistic reasons. I suspect, however, that many do so, in part, for the national and possibly international acclamation and prestige associated with funding high quality charitable community development in places like New York. I just don’t think one would get that same level of recognition in a city like Baltimore. So perhaps that explains why you haven't seen much here.

[BigCityDreamer]

Originally Posted by Infinite_heights77

Didn't Forbes Magazine place San Franscisco and New York City tops of the list for having the most millionaires of any city?

Maryland actually has the highest % of millionaires of any state, believe it or not.

[Zombie woof]

Originally Posted by Infinite_heights77

"There may be some concentrations of affluence within the City limits, but the vast majority of wealthy households in the metro area do not lie inside the borders of fair Baltimore City proper, unfortunately."

*It's very unfortunate considering how small of a city Baltimore is.

Baltimore City takes higly aggressive stance against the wealth with their ridiculous taxes and hilarious school system. Their is no real incentive for those with wealth to live in the city aside from pure fascination with "Charm"

[Clyde Pharmer]

Originally Posted by Zombie woof

Baltimore City takes higly aggressive stance against the wealth with their ridiculous taxes and hilarious school system. Their is no real incentive for those with wealth to live in the city aside from pure fascination with "Charm"

While true, the city needs the tax money to subsidize its poor. There's still the prestige factor to owning a mansion in Roland Park and Guilford or a waterfront condo such at the Ritz Carlton. I have friends in Monkton who would live in Guilford in a heartbeat were it not for the lousy school system and not being wealthy enough to send their kids to an elite private school like Bryn Mawr, Gilman, and Roland Park Country.

[MrRational]

Originally Posted by Zombie woof

Baltimore City takes highly aggressive stance against the wealthy with their ridiculous taxes
and hilarious school system. Their is no real incentive for those with wealthy to live in the city...

One more time (and I'm sure it's hard for some to appreciate):
Don't confuse income with wealth.

The actually wealthy won't care about the public schools
or even the marginally higher property tax rate.

[baltplanner]

Here's some food for thought:

Nationally: 22% of houseolds make over $100K per year
In Baltimore: 15% of households make over $100k per year
In NYC: 25% of households make over $100K per year

Nationally: 23% of households make less than $25k per year
In Baltimore: 33% of households make less than $25K per year

I know its obvious for most people that live in the City, but I just wanted to display the evidence that the Baltimore region is much wealthier than the national average and that Baltimore City contains a concentrated proportion of the region's poor. The "hope" I was referring to in my first post was mostly about how all the new high end developments being built along the waterfront should correct some of this imbalance. That should mean that the City will have more resources (tax revenue) to directly address the problems that still face this city. High end development is good...it will make us more "normal" to a larger group of people.

[MrRational]

Originally Posted by baltplanner

...and that Baltimore City contains a concentrated proportion of the region's poor.

Isn't this true of every metro area?

The "hope" I was referring to in my first post was mostly about how all the new high end
developments being built along the waterfront should correct some of this imbalance.

Why? Why should that be an expectation?

That should mean that the City will have more resources (tax revenue)
to directly address the problems that still face this city.

Do you realy believe this something to advocate for?
That yet additional funds will change anything at root?

[B.K.]

As has been noted above, a larger than average percentage of the wealth (and income) of the smaller than average percentage of prosperous city residents is taken from them through taxation to subsidize the City's multi-generational poor.
You don't hear a whole lot of rags to riches stories coming out of East and West Baltimore-unless you count the "Drugs,Inc." story featured on another thread.
I've wondered if perhaps one way for the City to work its way out of subsidizing such a large percentage of its population would be to remove them through raising the cost of living to such an extent that only the wealthy could actually afford to live here-perhaps that's what's going on now? Dream BIG Stephanie and "Jack"!

[Tinawina]

Originally Posted by MrRational

Isn't this true of every metro area?

Yes, but Baltimore's poverty average is up there. Way up there.

Expanding the "good" areas will help raise the tax base, but the population of poor is so large here that I don't see much changing until they find a way to reduce it ultimately. There is just too much extreme poverty as well as the problems that come with that. I don't know how any city can be expected to manage it frankly.