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One man one vote should mean something, in the U.S. it does not.
That's because in every close election, Democrats find mystery ballot boxes in car trunks, refrigerators, and dropping out of the sky. These formerly "lost or misplaced" ballots always tilt elections to Democrats, and never the other way around. Which defies the law of average, and suggests "vote fixing."
Democrats steal elections outright, and you whine about the Electoral College.
If they stay, they PAY.
If not, don't let the Holland Tunnel smack you on the ass as you leave.
THey are here because they make a great deal of money BEING here.
They can make a great deal of money being in Dallas too. Wall St is mobile, you can have day traders in Arkansas. Everyone thought London was the undisputed capital of the financial world then Brexit happened. Now whole trading operations numbering in the thousands of employees are being relocated to Paris, Frankfurt, HK, et al in a blink of an eye.
If they stay, they PAY.
If not, don't let the Holland Tunnel smack you on the ass as you leave.
THey are here because they make a great deal of money BEING here.
That last part is quite true and that's because of the large base here and the different industries that have been incubated here for decades if not centuries. However, if you drastically change certain parameters such as having the tax burden be drastically different compared to that of other states, then the benefits of staying here and the various barriers to moving can be outweighed by that state tax difference eventually. Certainly there are many cities that have accrued quite a bit of human capital and have incubated various industries that NYC has in the last half century especially and if you start gassing that a bit where "everyone who wants to be in X industry is there because everyone who is in X industry is there" can then shift to other cities. I understand what you're going for, but tackling it on a state income tax level is a very suboptimal approach.
Quote:
Originally Posted by Shizzles
They can make a great deal of money being in Dallas too. Wall St is mobile, you can have day traders in Arkansas. Everyone thought London was the undisputed capital of the financial world then Brexit happened. Now whole trading operations numbering in the thousands of employees are being relocated to Paris, Frankfurt, HK, et al in a blink of an eye.
Wall Street is not totally mobile, at least not without a true disaster, or barring that, a long timespan, and you know that. London has been knocked down a few pegs since worries about Brexit and may be knocked down quite a bit more, but its high position well above other European financial centers meant that even with many relocations and moving of operations, London is still a massive financial center.
I didn't read this whole thread, and do not want to write any extensive comments any more, but just want to mention that California (which also has most of its tax revenue paid by very few people) was in even worse situation of massive deficit and near-bankruptcy during the recession, when the "rich" had no gains to be taxed. Many state-sponsored social services were cut at that time, and never restored. CA has since then redirected the welfare largely into public schools and job-seeking programs, and away from direct handouts (although there are still way too many of those).
NYC has a different situation, ie, a more permanent one: major taxpayers are not having just temporary market losses, but are physically leaving. End of itemized deductions actually doesn't affect the rich too much, because when they could itemize, they were also subject to AMT (Alternative Minimum Tax) which eats up most of the itemization tax benefit. I personally think a major reason for the exodus of the NY rich really could be Ocasio Cortez. Okay, she is not involved in running the City or the state, but is an example of the type of a politician New Yorkers are nowadays likely to elect by majority vote. Well then, who wants to headquarter their business, or keep their major assets, in Venezuela?
Just days after Cuomo is crying the blues de Blasio takes to the podium to announce there is a $750 million dollar hole in the budget due to anticipated tax revenues coming in short. De Blasio stood there and said there will be cuts at every level of government at every agency. This comes weeks after he announces free health care for all. He announces that program knowing full well this was going to happen. Now he and Cuomo want to cut at every level. They want to be praised for austerity measure due to a problem that they created. Both these nimrods should be recalled.
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