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This and other posts seem to be promoting the idea that if we don't buckle under and do what the wealthy demand of us, we will be punished.
I find such an attitude to be completely anti-American and destructive to a free society. You remind me of 18th century Loyalists, only your loyalty is to the power of money rather than the power of the Crown.
Look it is reality, this is a free country people can come and go as they please and they will. The fact that you may find it distasteful isn't relevant. Punishing people because they are successful is anti American. Discouraging achievement is destructive to a free society. I have loyalty to individual freedom, the collective has no right to the fruits of any persons labor. Today billionaires, tomorrow you and me.
And it isn't only the super rich leaving that is hurting the city, you must live in this area to fully understand the titanic shift on Wall Street. The tax base decimated.
Last edited by shorebaby; 05-19-2009 at 07:39 PM..
I really want to bang my head on the wall when I read people saying New York's population is increasing....Okay....you lose 20 millionaires that finally come to their senses and leave who contribute HUNDREDS OF MILLIONS of dollars in taxes to the city and gain 20,000 people requiring social services...you do the math...it's not that hard to figure out what is going to happen to that apple cart!!!! What is go hard about that?? Like the early poster said...it is un American to penalize people for being innovative and producing. Tax the hell out of the producers...the water carriers and turn it over to the water drinkers. Soon there will not be enough water carriers to cover everyone's thirst. PGH and others...it's not worth arguing....We see right before our eyes what is happening to a high tax, penalize the rich state (California) while they continue to give more and more social services and "freebies" out to people......They are going bankrupt people...layoffs, cutting cops, fireman, political taboos in the past are happening without the politicians worrying about the fallout. Why, you ask?? Because there AIN'T NO MONEY!!!!!!!!!! Rich people are not the only people fleeing New York's taxes...I'm a civil servant that put my time in, worked hard to serve the people of New York, and relocated upon my retirement to Florida as quickly as I could. I have NEVER been happier. I hear the VZ Bridge may be going up to $13.00!!!!!!!!!!!!! This "TOLL" was supposed to be lifted when the cost of building the bridge was met........that was over 40 years ago!!!!!!! TAX, TAX, TAX, TAX, FEE, FEE, FEE, TOLL, TOLL, TOLL.......keep telling yourself everything will work out and there are "tons" of millionaires waiting to move to New York....hee hee hee....It's nice being on the outside and reading the nonsensical views....Only time will tell but if we continue down this road New York will be bankrupt before long....then I can say I told you so, but surely it will be a shallow, weak victory with all of the pain the people will have to endure.
What are we talking here? Five million dollars from a billionaire? And you call that punishment? Funny. Very, very funny. What's sad is you probably believe your words.
Not at all the point, the point is this is Five MILLION dollars not going to the state to pay their budgets, meaning that something else needs to be cut. Why do you liberals not get that this isnt about the billionaire, this is about everyone left who has to pickup the tab after he leaves?
Sorry oz, but I don't aspire to be a pompous ass. I couldn't care less about his money. Enormous wealth is the domain of right-wing wannabes, not the majority of Americans.
What are we talking here? Five million dollars from a billionaire? And you call that punishment? Funny. Very, very funny. What's sad is you probably believe your words.
Not only can the super-rich afford to pay more, but in doing so they experience nary a decline in their living standards. Not a bit. None. Nada. Zip. And you call that punishment? Furthermore, what do you think allows them to attain such wealth? What protects their wealth once it is acquired? Got a clue? It's big bad government that does these things.
Giving back to the system that provided opportunity and protected its fruits is not punishment. It's called responsibility. Aren't you right-wingers big on responsibility?
What right do you have to demand that the rich be punished for being rich? And make no mistake about it--it is punishment. You can couch it in whatever weasel-terms you want, but it's still punishment. It's still theft.
Is it OK if a theif robs you and gives it to a homeless man? You are richer than the homeless man, and surely you owe a debt to society for your superior position?
Also, where do the wealthy keep their "masses of money"? In investments, which employ people, in purchases and assets which promote economic growth, and in savings which are lent out.
When the government expropriates wealth, it diverts capital from these productive avenues into its various projects, like welfare, which as contrasted to employment, promotes idleness and irresponsibility.
The rich sure fled in the 1970's it will happen again because of the insane tax rates and with the permanent change in the financial service industry the tax revenues for NYC are sure to fall. This will lead to dirtier streets, increase in crime and flight out of the city. For those who believe it will never happen don't have to look too far back in history. Do you remember John Lindsey and Abe Beam?
There were still large numbers of wealthy people under Lindsay and even Beame, who presided over NYC's bankruptcy. In fact, there were more middle class people in NYC under Beame - when NYC was in worse shape than any time since - than there are today. I'm not defending either of those two mayors but NY maintained a mix of all classes just like later on ; the proportion of certain classes fell and others rose, but NY didn't lose the rich.
I doubt America will lose the rich like Britain did in the '70s because the US tax system is different ; it's based on citizenship not residency and thus it's harder to evade the IRS than the Inland Revenue, because no matter where you live you still have to pay taxes as a US citizen. Americans seem reluctant to give up their citizenship as things are now ; don't know if their attitude will change in the future, but I doubt it would change much for a long time.
NYC is still one of the safest cities in the country. Anyone that believes different doesn't know NYC. I would rather walk through Harlem at any hour of the night than comparable neighborhoods during the day in pretty much any other major city in America.
There were still large numbers of wealthy people under Lindsay and even Beame, who presided over NYC's bankruptcy. In fact, there were more middle class people in NYC under Beame - when NYC was in worse shape than any time since - than there are today. I'm not defending either of those two mayors but NY maintained a mix of all classes just like later on ; the proportion of certain classes fell and others rose, but NY didn't lose the rich.
I doubt America will lose the rich like Britain did in the '70s because the US tax system is different ; it's based on citizenship not residency and thus it's harder to evade the IRS than the Inland Revenue, because no matter where you live you still have to pay taxes as a US citizen. Americans seem reluctant to give up their citizenship as things are now ; don't know if their attitude will change in the future, but I doubt it would change much for a long time.
NYCs tax burden is so uneven that more middle class families do not help. NYC relies on taxing the wealthy to the hilt for its revenue. Bloomberg himself said 40,000 NYC residents pay 50% of the taxes. Do not forget that during the late 60s and early 70s was the hight of "white flight" from NYC they were mostly wealthy and middle class families.
I don't think America will lose residents although it is possible. But high tax states most certainly will lose residents to no tax states like Florida.
Punishing people because they are successful is anti American. Discouraging achievement is destructive to a free society. .
It's not only anti-American, it hurts all of us - not just in theory but in reality and it is happening NOW.
A lot of companies are not expanding, are not investing in new interests and new equipment, etc. because they are watching the actions of the government and waiting to see what the goverment is going to do next.
For the last 3-4 months, over 600,000 people EACH month have lost their jobs. Part of it is due to the fact that companies are keeping the status quo rather than forging toward growth. This in turn negatively affects their suppliers and the snowball rolls on and on.
I do not understand how more of We The People do not understand this connection.
I'm not even talking about just the mega-companies. There are thousands more smaller companies than mega ones. While everyone wants to punish the mega's & their CEO's, the smaller companies are also being affected and are concerned about what actions the govt may take next.
People are cheering for actions to be taken against the rich. What they don't stop to think about is that they are "cutting off their nose to spite their face".
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