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Thread: New York's Wealthiest Are Moving Out

  1. #21
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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by RetiredUSN View Post
    The migration out of New York State has been going on long before the Trump presidency and it's not just about taxes.

    White collar, blue collar, young, and older workers are also included this migration.

    A lot of millennials are also moving out of NY because of the high costs of living and the cost of buying and owning homes. 43% of millennials in NY live with their parents.
    I wonder. Did Trump live with his parents, when he was so much younger than today?

  2. #22
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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by iguanaman View Post
    You are not alone but believe it or not there was a time when all income groups incomes moved pretty much in unison and CEO's made 40 times the salary of their workers instead of 400 times. Do you think it was computers that changed that too? When did it become acceptable for an owner of a company to take home $20 million a year? When the taxes on most of that income dropped below 40% that's when. Efficiency is worthless if it does not include planning for the future or concern for the financial health of their employees/customers.

    Actually, a good part of the increased spread between lowere and higher incomes probably is driven by the reduction in information related cost transferral speeds connected to computers and the internet. It allows poor populations overseas to compete for capital they require to increase their productivity. This has meant one and a half billion subsistence poor to enter the global middle class, while the income of those they were competing with no longer grew so quickly. In fact then, what should surprise you is not that the US wages have grown more slowly than before. The surprise is that they haven't fallen.

  3. #23
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    Re: New York's Wealthiest Are Moving Out

    WOW. NYC is shrinking even faster than the dying city named Chicago...learned something new....

    https://nypost.com/2017/04/01/people...alarming-rate/

    Gotta wonder what is going on the head of this mayor who just loves to spend the citizens money...and make new rules for them to follow....and the city keeps hiring more employees even as it has shrunk by about a million citizens since 2010....that is a dysfunctional city.


    This is paid for at enormous expense: The average compensation (including pension and benefit costs) for a New York City municipal employee runs about $140,000 a year, or four to five times the average salary. (The median household income in New York City is just over $50,000.) Altogether, personnel expenses for the city currently top $44 billion per year and will exceed $50 billion per year by 2020.
    New York City Municipal Workers Enjoy Supplementary Welfare State | National Review

    This making the affordability problem which is driving people away worse, especially if the city is shrinking in population.
    Last edited by Hawkeye10; 12-17-17 at 05:37 AM.
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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by iguanaman View Post
    Please stop that foolishness. U.S corporations are experiencing record profits AFTER taxes and have trillions in reserves. Besides in what world is employment based on how much money they have? Employment is solely based on need which is based on demand. Demand is based on salaries which have been flat for 35 years. It appears the lower we tax the highest brackets the more greedy the wealthy get with raises. From these charts it appears the optimal top rate is about 70%. Less than that and management takes all the extra profits from productivity increases for themselves.



    While you are correct to say that wages have been relatively flat, it is wrong to believe that this is globally true. While in the US wages might have been flat, the income of Chinese and other countries' workers' numbers and incomes have increase rapidly over the last 30 years.

  5. #25
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    Re: New York's Wealthiest Are Moving Out

    When our Republican tax plan directed by President Trump passes this week it's going to be the biggest Christmas gift ever given to the American middle class taxpayer and their families. Something this dude and his regime refuses to do.
    It will be a wonderful sight seeing jobs being created. The liberals/Demos will be soiling their huggies after Wednesday of next week. Dictator obama's regime and his ruling is being taking down bit by bit...Merry Christmas one and all !

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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by Moderate Right View Post
    Yeah, the Republican tax plan is a boon to the wealthy. How about those wealthy New Yorkers, who want to move away to pay lower taxes? The solution to New York is quite simple: Raise taxes on whoever remains.

    https://www.yahoo.com/finance/video/...213717626.html

    Next up, California and Hollywood moving to Mississippi.
    So, rich people, who live in multimillion dollar apartments and homes are going to move to FL? Ok, what does that do to the value of luxury apartments and to the assets of real estate moguls?
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by PTF View Post
    When our Republican tax plan directed by President Trump passes this week it's going to be the biggest Christmas gift ever given to the American middle class taxpayer and their families. Something this dude and his regime refuses to do.
    It will be a wonderful sight seeing jobs being created. The liberals/Demos will be soiling their huggies after Wednesday of next week. Dictator obama's regime and his ruling is being taking down bit by bit...Merry Christmas one and all !
    You are merely parroting Trump, who knows nothing about what is actually in the bill. According to Trump, the tax bill will grow GDP by 4, 5, and 6 percent but actual economists say that's fantasy and it will not create jobs.

    "Christmas gift?" Who takes away a Christmas gift a few years later? Trump and the GOP do. The middle class will end up paying higher taxes in 2025, according to this bill, while corporations get a permanent cut.

    "Dictator Obama?" It's not even worth arguing that nonsense.
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

  8. #28
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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by Moderate Right View Post
    I realize you guys are in denial about companies moving overseas due to taxes. It's easier for you to try claiming it is the cheap labor. Sure, many companies do move overseas due to cheap labor BUT many other companies also move overseas to avoid the US high tax rates.
    My company this year moved its headquarters to London. Why? 10% corporate rate.

  9. #29
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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by MTAtech View Post
    You are merely parroting Trump, who knows nothing about what is actually in the bill. According to Trump, the tax bill will grow GDP by 4, 5, and 6 percent but actual economists say that's fantasy and it will not create jobs.

    "Christmas gift?" Who takes away a Christmas gift a few years later? Trump and the GOP do. The middle class will end up paying higher taxes in 2025, according to this bill, while corporations get a permanent cut.

    "Dictator Obama?" It's not even worth arguing that nonsense.
    Actually they say by February people will start seeing more money in their checks.
    If you don't like what you are getting back extra you can send it back to the governemnt.

    Somehow I doubt you or anyone else complaining about getting more of. Your dollars back will.

  10. #30
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    Re: New York's Wealthiest Are Moving Out

    Quote Originally Posted by joG View Post
    While you are correct to say that wages have been relatively flat, it is wrong to believe that this is globally true. While in the US wages might have been flat, the income of Chinese and other countries' workers' numbers and incomes have increase rapidly over the last 30 years.
    Median family income rose 3.2%. Last year. That is a decent increase.
    That puts it at about 59k dollars a year.

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