New York Chasing Rich Tax "Deadbeats" To Other States

[Independentthinker]

Remember that constant drum from the left that the super rich don't pay any taxes? Well, New York State (and of course California too) has come up with a solution to get rid of those tax deadbeats - chase them out of town and let these rich tax deadbeats move to Florida, Texas, and Arizona. Only trouble is, those super rich tax deadbeats aren't really deadbeats after all and pay most of the state's income taxes collected and now those taxes will be collected in other states and not New York (and California). The rich will now be paying their fair share in red states

For perspective, the 41,000 filers in the city’s top 1% pay more than 40% of all its income taxes. The 450,000 filers in the top 10% pay about two-thirds of all income taxes.

In other words, the remaining 90% of taxpayers contribute about one-third of the city’s income tax revenue.

Super rich New Yorkers — including billionaire Carl Icahn — are fleeing the Big Apple in droves. Here are the top 3 states they're quickly escaping to

These snowbirds are heading south for the winter. And staying put.

finance.yahoo.com

 

[DudleySmith]

Good. They love tax increases on working people and rake in over 80%-90% of the income, and only pay two thirds of the income taxes; actually workers pay most of that for them as well as underpaid employees. Chase them overseas as well. Apply a Social Security tax fee on imports and foreign earnings while we're at it.

 

[Woodznutz]

They also provide lots of commerce, jobs, etc.

 

[jotathought]

Remember that constant drum from the left that the super rich don't pay any taxes? Well, New York State (and of course California too) has come up with a solution to get rid of those tax deadbeats - chase them out of town and let these rich tax deadbeats move to Florida, Texas, and Arizona. Only trouble is, those super rich tax deadbeats aren't really deadbeats after all and pay most of the state's income taxes collected and now those taxes will be collected in other states and not New York (and California).

For perspective, the 41,000 filers in the city’s top 1% pay more than 40% of all its income taxes. The 450,000 filers in the top 10% pay about two-thirds of all income taxes.

In other words, the remaining 90% of taxpayers contribute about one-third of the city’s income tax revenue.

Super rich New Yorkers — including billionaire Carl Icahn — are fleeing the Big Apple in droves. Here are the top 3 states they're quickly escaping to

These snowbirds are heading south for the winter. And staying put.

finance.yahoo.com

If New York aligns closely to federal income taxes, roughly 50% of wage earners are paying 96-97% of federal income taxes, and the remaining 50% are paying roughly 3-4% of federal income taxes.

 

[johngaltshrugged]

So the deep thinkers once again prove they have no clue as to the consequences of the buffoonery they push on their ignorant minions.
They have all the foresight of a moth at a flame

 

[Independentthinker]

Good. They love tax increases on working people and rake in over 80%-90% of the income, and only pay two thirds of the income taxes; actually workers pay most of that for them as well as underpaid employees. Chase them overseas as well. Apply a Social Security tax fee on imports and foreign earnings while we're at it.

Translation: Let the rich take the jobs with them to other states and we can put everyone on welfare or unemployment or create a basic income for everyone.

 

[1srelluc]

Meh, NY has been doing that for years. It seemed you just heard about it when they came after some ridiculously small sum.

 

[Polishprince]

Governor Cuomo made it crystal clear during his reign that Conservatives weren't welcome in New York. When Patterson was ruling the state, he was jubilant that conservatives like Rush Limbaugh left because of the taxes and declared he would have did it earlier had he known what the result would be.

 

[Richard-H]

Wealthy New Yorkers have been migrating to Florida en masse sine the 1970s. But their investments remain in New York.

List of U.S. states and territories by GDP - Wikipedia

en.wikipedia.org

 

[Toddsterpatriot]

Wealthy New Yorkers have been migrating to Florida en masse sine the 1970s. But their investments remain in New York.

List of U.S. states and territories by GDP - Wikipedia

en.wikipedia.org

And now their income doesn't remain.

 

[TroglocratsRdumb]

New York is going to need another federal bailout​

https://nypost.com/2020/04/05/new-york-is-going-t…
WebApr 5, 2020 · A crippled New York, in turn, harms federal tax revenues later. Congress’ recently passed rescue law, then, falls short, even with $180 billion allocated for states and cities. It will pump $40...

​

New York to receive $50 billion bailout in Biden’s …​

The Post Millennial - News, Politics, Culture, and Lifestyle

Political, business, and investigative journalism news coverage in Canada. Local, provincial, and federal news and current events analysis across Canada.

thepostmillennial.com

WebFeb 15, 2021 · Speaker of the House Nancy Pelosi (D-CA) sent a letter to the state’s Democratic delegation Thursday, notifying the state of the generous funding headed their way. The bailout includes $12.6 billion in New York …

Massive $1.9 trillion bill is a bailout for blue states - New York Post​

https://nypost.com/2021/03/10/massive-1-9-trillion...

WebMar 10, 2021 · President Joe Biden’s blue state bailout, which he’s expected to sign Friday, is a monstrosity — so large it leaves America’s states with a surplus after one of the …

What do the NY Democrats do with all that tax revenue that they recieve?

 

[iamwhatiseem]

I saw some New York real estate dude say that for the first time in decades there is a real problem of empty multi-$million apartments.
In $Billionaires row... almost HALF of the real estate is now empty.

 

[DudleySmith]

Translation: Let the rich take the jobs with them to other states and we can put everyone on welfare or unemployment or create a basic income for everyone.

They will certainly take jobs to other states when those states will subsidize them with taxpayer money. They will also off-shore them when they get paid to do so, as in the case of USAID building them nice maquila plants and infrastructure in Mexico, El Salvador, and hand out 'MSF bennies to Red China and every other lavor racketeering regime. You reallt think they would do that without our own govt. paying for it? Right wingers keep babbling avout these gangsters as if they're victims; they aren't, they sell out their own country at the drop of a dime. They form trusts and monopolies, make agreements with each other to drive down wages of skilled labor, cheat their customers, lie to outside shareholders, etc. Right wingers seem to have no problems heavily subsidizing them and their grossly overpaid management, nor with foreign countries like Red China buying up American real estate, companies, farmland, and peddling fentanyl. Sorry, no tears need be shed for traitors and thieves.

 

[DudleySmith]

I saw some New York real estate dude say that for the first time in decades there is a real problem of empty multi-$million apartments.
In $Billionaires row... almost HALF of the real estate is now empty.

View attachment 759506

And they will walk away and leave them for the govt. to eat the costs they leave behind. If that train wreck gets too expensive they will just walk away from that corporation and open up under a different name a week later.

 

[DudleySmith]

Meh, NY has been doing that for years. It seemed you just heard about it when they came after some ridiculously small sum.

The rich might keep an apt. there or a hotel suite. Mostly they live in Conn. or mansions up the Hudson or live in Florida or Europe part of the year.

 

[Independentthinker]

They will certainly take jobs to other states when those states will subsidize them with taxpayer money. They will also off-shore them when they get paid to do so, as in the case of USAID building them nice maquila plants and infrastructure in Mexico, El Salvador, and hand out 'MSF bennies to Red China and every other lavor racketeering regime. You reallt think they would do that without our own govt. paying for it? Right wingers keep babbling avout these gangsters as if they're victims; they aren't, they sell out their own country at the drop of a dime. They form trusts and monopolies, make agreements with each other to drive down wages of skilled labor, cheat their customers, lie to outside shareholders, etc. Right wingers seem to have no problems heavily subsidizing them and their grossly overpaid management, nor with foreign countries like Red China buying up American real estate, companies, farmland, and peddling fentanyl. Sorry, no tears need be shed for traitors and thieves.

LOL. Meanwhile New York and California have to pay 100% for the welfare, unemployment, and other government benefits for the people out of the jobs. So called corporate welfare isn't anywhere near as bad as that. The reality is that corporations are actually the ones subsidizing what the government has to pay out to these people.

 

[DudleySmith]

LOL. Meanwhile New York and California have to pay 100% for the welfare, unemployment, and other government benefits for the people out of the jobs. So called corporate welfare isn't anywhere near as bad as that. The reality is that corporations are actually the ones subsidizing what the government has to pay out to these people.

Rubbish. The govt. and big corporations are the same people. That's why you think sucking up to one will get you a pat on the head while the other does their laundry for them.

 

[Independentthinker]

Rubbish. The govt. and big corporations are the same people. That's why you think sucking up to one will get you a pat on the head while the other does their laundry for them.

So, you're willing to go on record as saying that we need smaller government, not bigger government?

 

[DudleySmith]

So, you're willing to go on record as saying that we need smaller government, not bigger government?

You get big govt. because big business wants big govt. You have little say in the matter. All these regulations you snivel about are demanded by businessmen themselves. That has been the case since the Constitution was ratified. You wouldn't know because you ignore history in favor of ideological fantasy narratives. Big business hates free markets and they hate competition.

 

[Independentthinker]

You get big govt. because big business wants big govt. You have little say in the matter. All these regulations you snivel about are demanded by businessmen themselves. That has been the case since the Constitution was ratified. You wouldn't know because you ignore history in favor of ideological fantasy narratives. Big business hates free markets and they hate competition.

Wow. It's hard to even comment on that much crap, so, I'll try asking you again. Are you against big government? The question can be answered yes or no instead of the big 100 word dodge way out in the weeds.