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Wed Nov 11, 2020, 07:06 PM

Richest New Yorkers Will Devastate City If They Leave With $133 Billion

Before Covid-19 hit, New York City was home to many of the richest people in the world, an elite group of 30,000 families earning at least $1 million a year.

Gothamís future will be decided by how many of these super-wealthy people remain after the pandemic is over.

The top 1% of New Yorkers reported a combined $133.3 billion in income in 2018, according to new data released last month by the cityís Independent Budget Office. They paid $4.9 billion in local income taxes, making up 42.5% of total income tax collected by the city.

https://www.bloomberg.com/news/articles/2020-11-11/richest-1-in-new-york-earning-133-billion-will-devastate-city-if-they-leave

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:13 PM

1. Cue the John Galt fantasies.

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Response to Chichiri (Reply #1)

Wed Nov 11, 2020, 07:36 PM

7. Thats gonna happen when the few people at the top

have all the money.

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:16 PM

2. How many are citizens though?

Way past time to realign the income disparity and actually invest in city infrastructure.

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:19 PM

3. Where would they go? What other location would give them the glamour they crave?

Broadway? The restaurants? Their recognition?

Westchester County, Connecticut, the south shore of Long Island is where they go for their second homes. They would be bored to death out there. The lines for Dean & DeLuca are out the door in Easthampton as it is.

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Response to no_hypocrisy (Reply #3)

Wed Nov 11, 2020, 07:22 PM

4. Why, to the moon! Or Mars! That's the Musk fantasy.

Can't be more impressive than to be "the first mailbox on Mars!"

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Response to no_hypocrisy (Reply #3)

Wed Nov 11, 2020, 07:32 PM

6. There are nice restaurants outside NYC. Blue Hill at Stone Barns in Tarrytown, for example

Or the French Laundry in Yountville, CA.

Chef's and entertainers will go where the money goes.

Besides, you can always take the chopper in to NYC to go to a show. But do billionaires go to Broadway? I thought that was for tourists? Or the petite bourgeoisie.

Dean and DeLuca appears to no longer exist. https://en.wikipedia.org/wiki/Dean_%26_DeLuca

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Response to no_hypocrisy (Reply #3)

Wed Nov 11, 2020, 08:42 PM

15. There are lots of them in Westport, Greenwich, and New Canaan

within driving distance of NYC.

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:24 PM

5. Good riddance.

NY does not need them.

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:39 PM

8. So raise taxes on others

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Response to JI7 (Reply #8)

Wed Nov 11, 2020, 07:42 PM

10. "...making up 42.5% of total income tax collected by the city"

Are you seriously suggesting that they make up that deficit by taxing working class NYC citizens?

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Response to Tarc (Reply #10)

Wed Nov 11, 2020, 07:43 PM

11. All of them are not going to leave so more taxes can be raised on the wealthy

but everyone's taxes would have to go up.

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:42 PM

9. Pro 1% propaganda

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:44 PM

12. They are moving to the red states to turn them blue. Wait for it. nt

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:52 PM

13. I thought they had already fled to vail and aspen, et al.

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Response to Klaralven (Original post)

Wed Nov 11, 2020, 07:56 PM

14. Fantastik! Homeless will not have to live on the streets!

It would be better overall IMHO!

I don't live there, I'm willing to give it a try!

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