Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
"Can't tax the rich anymore"...because THEY SAY SO.
The problem with taxing the rich is that they can just move away if they deem what they are paying is too much. They only stay if they deem their taxes "fair", which is subjective for everyone. This works on local and national scale. On a national scale it results in tremendous capital flight and deep recession or permanent depression if the policy is not reversed. This is also a small reason why socialism doesn't work in practice (there are other, more major fundamental economic reasons, mostly having to do with labor productivity and allocation of capital).
Taxing rich will only force them to off shore accounts.
Slogan TAX the RICH works for the stupid and poor, they dont know any better. Politicians know this and use it.
Now if only they enforced the rules and tracked down off shore accounts and traced corporations that avoid taxation.
But hey. Big Corps run this world, never mind the little USA. Who are you the peasants to tell them how to deal with their money.
They are your president, congress, senate and everything in between. They own the GAME. They own your house, the land.
CT's taxes are only slightly lower than NYS; however there are other reasons why the wealthy and or hedge fund people make their home in Fairfield. Indeed the entire Gold Coast area of CT long has been home to the wealthy for various reasons. https://en.wikipedia.org/wiki/Gold_Coast_(Connecticut)
Schools, access to docks and a host of other things that make up a quality of life certain hedge fund managers value. The commute by car or train to NYC is < one hour, and many persons do have a home "in town". They are just careful not to spend enough time here to be counted a NYC resident for tax purposes.
NYS taxes may be only slightly higher. But NYS + NYC taxes are significantly higher. If the taxes push you out of the city why not go to the place reasonably close by, with the lowest taxes (and reasonable facilities, which Stamford had.) And yes, the ritziness of Greenwich didn't hurt.
CT's taxes are only slightly lower than NYS; however there are other reasons why the wealthy and or hedge fund people make their home in Fairfield. Indeed the entire Gold Coast area of CT long has been home to the wealthy for various reasons. https://en.wikipedia.org/wiki/Gold_Coast_(Connecticut)
Schools, access to docks and a host of other things that make up a quality of life certain hedge fund managers value. The commute by car or train to NYC is < one hour, and many persons do have a home "in town". They are just careful not to spend enough time here to be counted a NYC resident for tax purposes.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
