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Do you know this?
Even if he does, do you know how he has the business structured as far as taxes are concerned? I doubt he got rich by being stupid.
And I'll say this one more time.
Do you know he is 'leaving' and selling anything and not just declaring Florida as his legal residence?
He may well simply be removing his income tax 'contribution'
Well.. the same argument was made about Donald Trump changing residents.. and let's face it.. He may have a home somewhere else that he establishes as his "main" residence.. but the man STILL has property and business operating and generating income in NY
People come and go from NY all the time. The wealthy.. especially at that level have several places they call "home".
You still dont' get it.. there is no correlation between the taxes and those that move out of NYC.
NYC is UNIQUE in that it offers those "rich" opportunities they'd be hard pressed to find anywhere else. Even if they call some other state their "home" they still have "homes" in NY. I believe someone even pointed that out in the article. OH.. and his business may well still be in NY generating income to which he will pay income taxes.
Really? Then tell me why the person in this story is moving? You seem to know more about them than they do.
You do understand that one doesnt need to be sitting in NYC to conduct business in NYC dont you? I can trade stocks on the market, I dont need to be sitting there to do so..
And if you tax his business to much, I'm sure he'll move that also. Is that what your proposing?
Well.. the same argument was made about Donald Trump changing residents.. and let's face it.. He may have a home somewhere else that he establishes as his "main" residence.. but the man STILL has property and business operating and generating income in NY
People come and go from NY all the time. The wealthy.. especially at that level have several places they call "home".
Correct me if I'm wrong, but the issue here is the mans personal state income tax, is it not?
That is the money NYS will lose.
Well.. the same argument was made about Donald Trump changing residents.. and let's face it.. He may have a home somewhere else that he establishes as his "main" residence.. but the man STILL has property and business operating and generating income in NY.
Donald Trump has continued to conduct business outside of NYC for years.. You dont think he can easily stop developing there, and simply build another condo development in Miami?
Do you really think that NYC is so enticing that the excitement of doing business there should overcome any objection to taxes? Really, is that really what you think?
Why in the world do you think people will "legally" move then? And by the way, often times when the owner of a company moves, its not unheard of that several years later they simply move the company. It takes longer to move a company than an individual and you can bet that if a tax equation was made on the individual, one is being run on the businesses that they own..
p.s. Donald Trumps salary is $1 a year, and he's talking about moving, which means when he goes, his companies would go with him.. You dont think he's talking about moving to save taxes on $1 a year salary do you?
Really? Then tell me why the person in this story is moving? You seem to know more about them than they do.
You do understand that one doesnt need to be sitting in NYC to conduct business in NYC dont you? I can trade stocks on the market, I dont need to be sitting there to do so..
And if you tax his business to much, I'm sure he'll move that also. Is that what your proposing?
If you'd bothered to read other people's posts you'd know why .. His reasons are MANY not just the income tax in NYC You really think 5 Million is a lot to aman that makes $56M a year?? THe man has 51M left.. can he even spend THAT in a lifetime??
He is ONE MAN people... he's one rich dude whining about taxes and you are all getting bent out of shape.
As for your last statement.. if it were remotely true many people would have moved their business OUT of NYC a long time ago The bottom line is.. he can.. but he will not make NEARLY the money as a business does in NYC anywhere else in the country.
NYC is again. .UNIQUE. And YES.. many people don't have to be IN ny physically to do business.. THAT is my point. He'll be doing business and his business will be generating income, jobs or whatever in NYC and hence taxes will be paid to NY and NYC. The mans PERSONAL income seperate from his business is what he is pulling out by moving to another state. Big deal..
As i said before.. NYC populatino is GROWING NOT shrinking.. 1 man does not make or break NYC and to think so is just plain ridiculous.
Donald Trump has continued to conduct business outside of NYC for years.. You dont think he can easily stop developing there, and simply build another condo development in Miami?
Do you really think that NYC is so enticing that the excitement of doing business there should overcome any objection to taxes? Really, is that really what you think?
Why in the world do you think people will "legally" move then? And by the way, often times when the owner of a company moves, its not unheard of that several years later they simply move the company. It takes longer to move a company than an individual and you can bet that if a tax equation was made on the individual, one is being run on the businesses that they own..
p.s. Donald Trumps salary is $1 a year, and he's talking about moving, which means when he goes, his companies would go with him.. You dont think he's talking about moving to save taxes on $1 a year salary do you?
If you think Donald is not going to develop in NYC you are delusional. NYC has always been more expensive to conduct any busienss in.. BUT it is also the place to MAKE THE MOST.
I ask you again.. have you even BEEN to NYC.. because I've LIVED in NY.. and I know what it's about, what it's appeal is and no matter what NYC will ALWAYS be WHAT it is and is no immediate danger of disintergration.
this nation is going through a tough economic time all around. The rich want to whine about it, go right ahead. They want to move.. go right ahead. it's all BS.
NYC has the BEST chance of weathering the storm BECAUSE it is NYC. If you don't understand that.. you dont understand what NYC is about or it's appeal not only within this country but the rest of the world.
If you'd bothered to read other people's posts you'd know why .. His reasons are MANY not just the income tax in NYC You really think 5 Million is a lot to aman that makes $56M a year?? THe man has 51M left.. can he even spend THAT in a lifetime?? .
It doesnt matter that $5M is not a lot to a man who is a billionaire, that is not the point at all, its $5M that is not going to NYC, and ONLY not going to the city because of the increased in taxes. I dont care if the man is a trillionair and the $5M is $5.00, that is money NOT going to the city and that is the discussion. It isnt about the man and his money, its about the LACK of money going to the city due to a tax increase. PERIOD.
Try to stay focused.
Quote:
Originally Posted by TristansMommy
As for your last statement.. if it were remotely true many people would have moved their business OUT of NYC a long time ago The bottom line is.. he can.. but he will not make NEARLY the money as a business does in NYC anywhere else in the country.
Total BS, you have absolutely NOTHING to base that argument on, nothing. I dont know what type of company he owns but almost any company can be established in the middle of the desert and make it in todays society. Location does not matter, and I know this having just moved my companies and I across the state border to save money due to taxes. It has not affected my business at all, in fact its more profitable due to lower costs.
Quote:
Originally Posted by TristansMommy
As i said before.. NYC populatino is GROWING NOT shrinking.. 1 man does not make or break NYC and to think so is just plain ridiculous.
And yet you completely ignore the fact that NYC needs more money, which is why they raised the tax to begin with..
How many 'regular' people would need to move to NYC and pay taxes to make up the loss of this one man?
What we have here is simple class envy,there is a VAST number of people who despise others simply because those people are better off financially and think they should be punished for it....
If you think Donald is not going to develop in NYC you are delusional. NYC has always been more expensive to conduct any busienss in.. BUT it is also the place to MAKE THE MOST.
I ask you again.. have you even BEEN to NYC.. because I've LIVED in NY.. and I know what it's about, what it's appeal is and no matter what NYC will ALWAYS be WHAT it is and is no immediate danger of disintergration.
this nation is going through a tough economic time all around. The rich want to whine about it, go right ahead. They want to move.. go right ahead. it's all BS.
NYC has the BEST chance of weathering the storm BECAUSE it is NYC. If you don't understand that.. you dont understand what NYC is about or it's appeal not only within this country but the rest of the world.
I've been to NYC numerous times, I have partners that live there and briefly discussed moving there years ago. Until I figured out that warehousing costs would put me out of business.
This man is not whining about it, he's simply moving, thats not whining at all, its taking action, and if you think he is isolated your wrong. The high cost of living in NYC is partially due to the supply/demand, but a lot of it is equated to taxes. Yes, people will always move there but stop ignoring the fact that the city needs money, thats why they raised the taxes..
It takes a lot of $100,000 jobs to pay the taxes of a billionaire, and you seem to want to seem that its no big deal. It wouldnt be a big deal if the city wasnt already in the hole but they are, again, what services do you think should be cut ? Why were they not cut to begin with? You seem to want to focus on the fact that he's rich, can afford to pay it, and the situation is, he also an afford not to pay it and has chosen to do so..
"Golisano, who owns a home in Rochester and on Canandaigua Lake, said he will likely sell his Canandaigua home."
He doesn't live anywhere near NYC.
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