> taxing the rich will cause them to move to other cities (collapsing nyc tax revenue)
Which would stimulate growth for the rest of America and encourage development of NY's neglected periphery. It would also reduce the strain on the famously broken NYC housing market, encourage fewer financier jobs to stratify the economy, and create a more sustainable and larger workforce for middle-class expansion and new white-collar jobs. Over time you would see an increase in state taxes which would lower the burden on local government, and open up new opportunities for tourism and development that necessarily don't exist as a result of NYC's obsession over value density. You know, stop encouraging the construction of Judge Dredd Mega-Blocks and focus on large cities that support all of it's citizens.
Listen to him though, he's the guy crytyping on X.
swe_ops•7mo ago
Except that didn't happen in California and both wealthy and corporations are leaving in droves along with creating a budget deficit for CA. You can't tax your way out of issues and not expect people to leave. We have a real example of this.
Keep in mind the wealthy pay overwhelmingly more in taxes than everyone else
bigyabai•7mo ago
California was gentrified, ask any economist and they'll tell you collapse was inevitable. The soil there isn't filled with gold, your property prices aren't going to magically sustain ZIRP-rate office space prices. Contrary to popular belief, McDonalds workers do not live at the restaurant and need a place to live alongside $450,000/yr OpenAI prompt engineers.
So you have to ask your self, as a high-density city; do you want your bubble to pop, or are you willing to back off to prevent catastrophe? The difference in opinion between residents and real estate investors may shock you.
swe_ops•7mo ago
I don't think the difference in opinion will shock me -- I am both.
California's collapse was not inevitable. It was completely avoidable by being competitive with other states where people fled to.
On the other hand, a Socialism mindset will be the inevitable collapse on NY if given enough rope.
Again, you cannot tax your way out of fiscal issues and not expect people to take advantage of other options available.
meshugaas•7mo ago
California became the 4th largest GDP in the world, among countries, in April. It has not "collapsed".
Also, $1000 on you not living in either California or New York.
swe_ops•7mo ago
California's budget says otherwise. Same with the CA's census data about people fleeing -- the reduced congressional seats don't lie.
And you'd lose that bet.
meshugaas•7mo ago
Luckily for us, we now get to see who is right! :)
meshugaas•7mo ago
People pontificating about the NYC mayoral election who don't live in NYC should stfu and get a life. Literally has nothing to do with you.
mouveon•7mo ago
it's actually false and I personally saw that with Trump. For a long time I thought like that american elections only concerned their citizens, but not with the US
You have no idea how much influence the American politic has over the western world and especially europe. Leaders start adaptating their speech, businesses adapt their stances, and politics start changing
meshugaas•7mo ago
Do you know who the current mayor of New York is? And what has he done that has affected you in Europe?
bigyabai•7mo ago
Which would stimulate growth for the rest of America and encourage development of NY's neglected periphery. It would also reduce the strain on the famously broken NYC housing market, encourage fewer financier jobs to stratify the economy, and create a more sustainable and larger workforce for middle-class expansion and new white-collar jobs. Over time you would see an increase in state taxes which would lower the burden on local government, and open up new opportunities for tourism and development that necessarily don't exist as a result of NYC's obsession over value density. You know, stop encouraging the construction of Judge Dredd Mega-Blocks and focus on large cities that support all of it's citizens.
Listen to him though, he's the guy crytyping on X.
swe_ops•7mo ago
Keep in mind the wealthy pay overwhelmingly more in taxes than everyone else
bigyabai•7mo ago
So you have to ask your self, as a high-density city; do you want your bubble to pop, or are you willing to back off to prevent catastrophe? The difference in opinion between residents and real estate investors may shock you.
swe_ops•7mo ago
California's collapse was not inevitable. It was completely avoidable by being competitive with other states where people fled to.
On the other hand, a Socialism mindset will be the inevitable collapse on NY if given enough rope.
Again, you cannot tax your way out of fiscal issues and not expect people to take advantage of other options available.
meshugaas•7mo ago
Also, $1000 on you not living in either California or New York.
swe_ops•7mo ago
And you'd lose that bet.
meshugaas•7mo ago