State leaders close on deal for 10 free bus routes in NYC
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I don't think businesses will pay the tax, it will be transferred to the employee.
Yes but NY businesses compete for talent with other locations and if the talent opt for other cities because the taxes are too high here, that will weigh in their decision to relocate/open up in other cities. Also, for that same reason, the NY companies may need to up their salaries to make up for the higher taxes here so ultimately the companies pay too.
Any which way you look at it, NY is killing its businesses.
Yes but NY businesses compete for talent with other locations and if the talent opt for other cities because the taxes are too high here, that will weigh in their decision to relocate/open up in other cities. Also, for that same reason, the NY companies may need to up their salaries to make up for the higher taxes here so ultimately the companies pay too.
Any which way you look at it, NY is killing its businesses.
100% true.
Hochul needs to be careful not to turn this State into California (we're not that far from it) where all businesses are fleeing to Texas. We are already in the middle of a financial commercial building collapse - I don't know why she thinks we have the flexibility to add more weight to NYC's financial crisis, which by the way, is the result of an unnecessary COVID lockdown which has destroyed businesses and made the MTA virtually useless with work from home policies.
Yes but NY businesses compete for talent with other locations and if the talent opt for other cities because the taxes are too high here, that will weigh in their decision to relocate/open up in other cities. Also, for that same reason, the NY companies may need to up their salaries to make up for the higher taxes here so ultimately the companies pay too.
Any which way you look at it, NY is killing its businesses.
Yes and no.
NY employers of all sorts compete for national or international talent. Large numbers hire people from other states who are drawn to NYS/NYC in large part because compensation is vastly more here than in Flyover country or a few other select areas.
Healthcare, finance, tech, and other sectors routinely fan out across country to bring recent college graduates and or seasoned talent to NYC.
Despite NYC and surrounding area having tons of nursing schools all the major hospital/healthcare systems recruit nurses (especially new graduates/licensed) from across the country. Nurses here make bank, not so much elsewhere unless you count California or a few other areas.
Much of the portable jobs have long left not just NYC/NYS but entire northeast due to in part high labor costs. Manufacturing is one obvious sector, but there are others. Finance/banking has been moving back office and other low or middle level jobs out of NYC for decades now.
Jobs that are still in NYC/NYS usually have reasons to still be here; retail, service sector and those sort of things.
WFH adds a new wrinkle to things; places may simply hire or allow persons to work far from NYS/NYC but their compensation will reflect where they live, not necessarily NYC money.
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