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NYC if it hasn't started to already will turn into the total crap hole it was in the 70s.
Quote:
Originally Posted by TheGoodTheBadTheUgly
As wealthy individuals change residency to lower tax jurisdictions, and major finance companies move non-business development personnel to outside of NYS, the socialists running NYS and NYC will progressively become less and less able to balance the budget. Or maybe they think that the $15/hr jobs can fill the void left by departing millionaires and Wall Street employees. LOL
"Good riddance. It's not like @realDonaldTrump paid taxes here anyway," Cuomo
So as usual, Trump says he pays millions to the city of NY and the state while the governor says (who I am pretty sure has access to Trumps state tax returns) says he has paid none.
Based on Trumps track record on truth, I know who I believe.
And violate a persons 4th Amendment to privacy?
You people are tyrants.... and in the USA, patriots have a moral duty to end the lives of tyrants.
One million people have fled New York City and the tri-state area—which encompasses New Jersey, Connecticut and Long Island—in the last nine years. According to Bloomberg, almost 300 people are moving out of the area per day.
This trend is not exclusive to the New York metropolitan area. Many similar regions are seeing their residents migrate to other states. Los Angeles, Chicago, Washington, D.C., and San Francisco, as well as Connecticut’s Hartford, Bridgeport and New Haven, have all experienced a substantial exodus of people.
As long as he leaves his business in NYC and retains all his property all he saves is his own income tax. He owns the company that pays his salary. He can tweak that any way that works out best for him.
IMO, this is more about New Yorkers not liking him than state taxes.
That is much my thought. Unless he plans to move Trump Organization LLC to Florida, much of the income of the business will still be taxed in New York State. Of course, I imagine that many of his businesses (like golf courses) are set up to be based on the state they are located.
One thought I read is that his advisors told him that Florida is a 'must win' state for 2020, and that he may improve his chances if he becomes a resident of Florida. I think he needs new political advisors, if this is true.
NEw York, L.A., San Francisco, Detroit, Baltimore, Chicago — all long time democrat run cities that people are fleeing from.
All you need to know for the 20/20 election.....
But here is the heart of the problem. Yes the cities are a joke, the politicians have done little to nothing, but there are a lot of people there - some of them good people, many of them deadbeats -- and they all have a vote. It's going to be tough for republican candidates, be it Trump or anyone else, to win the popular vote for quite a while, IMO.
Each state has its own definition of who they consider to be a resident and it is possible to end up resident of more than one state. We were for a while, one state because we owned a house there which was that state's criteria, and the other state because we voted in that one. Basically, you have to check the law in any state you live in, own property in, work in, or vote in. It can get complicated if you split time between 2 states. Trump can say whatever he wants about his residency but NY no doubt is going to scrutinize whether he meets their definition of resident for tax purposes.
^^^^^ This.
And one state, South Dakota, allows domicile there with the 'residency requirement', IIRC, being spending one night there over a lifetime. CD member Stealth Rabbit has posted about that.
Last edited by RMESMH; 11-01-2019 at 09:00 AM..
Reason: corrected one character typo
It's widely accepted that elected officials in Washington D.C. are still residents of the states they originally hail from, since their time in D.C. is uncertain, and they're only there as part of their job (to represent the place they come from.)
It's similar to being in the military. When I joined, I had to have a home of record, so I used my parents' address in Missouri (which, given that I joined right out of high school, made perfect sense.) So legally speaking, I was a Missouri resident until I was 24 years old. Realistically, however, I hadn't physically lived in that state since I was 18. But it wouldn't have been practical to declare myself a resident of the places I went to while I was in the Army, since it wasn't intended that I was going to stay (and especially given that two of those places were foreign countries.)
As wealthy individuals change residency to lower tax jurisdictions, and major finance companies move non-business development personnel to outside of NYS, the socialists running NYS and NYC will progressively become less and less able to balance the budget. Or maybe they think that the $15/hr jobs can fill the void left by departing millionaires and Wall Street employees. LOL
Yes, this is exactly what will happen if a Democratic socialist wins and pushes through his/her tax plans for the $50M wealthy. They will simply tske up residence elsewhere. Then the socialists will dip down to the $25M, and they will leave. Then $10M, and they will leave. When you get to the $5M, maybe half will leave and the other half will stay, so they dip down to $2M. An voila, they raise the needed funds to give it to other people.
Anyone earning $80,000 or more, and who saved 15% into retirement as recommended by financial advisors, and who also purchased a house decades earlier, is at or near that point by retirement age. Thus, responsible people who made the needed sacrifices to build a retirement account will be punished - and those who earned $80,000 or more but spent to the hilt and retired with minimal savings will find their irresponsibility rewarded.
I'm surprised it took Trump this long. The Liberals of NYC have it in for wealthy people with their tax grabs and it will only get worse plus they HATE Trump. They used to love him when he was buying up downtrodden properties and rebuilding them but now that he is President he is hated. The guy hasn't changed, only his title.
Oh well. When Trump retires in 2024 he can play golf at his resort year round.
Great move President Trump...what took you so long?
He hasn't had to run this fast and this far before?
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