Tax the Rich. They Won't Leave New York

https://www.rollingstone.com/politics/political-commentary/zohran-mamdani-tax-rich-new-york-city-1235414327/

by colinprince • 11 months ago

29 21 11 months ago

rollingstone.com

mlinhares• 11 months ago

They can all move here to Florida and pretend for a week that they like it, we’ll definitely take their money LOL.

fuzzfactor• 11 months ago

You noticed.

They move there due to peer pressure, not because they like it hot & humid.

stockresearcher• 11 months ago

Ah, but Ken Griffin actually moved to Florida and then spent a bunch of money on “lobbying efforts” to change the non-compete law so he could better screw his employees. And now all employers in Florida can better screw their employees.

blakesterz• 11 months ago

I don't have an opinion one way or the other on this, but I do remember it happened at least once before:

  "Three-time gubernatorial candidate and billionaire B. Thomas Golisano is changing his home address to Florida to escape New York income taxes he says cost him nearly $14,000 a day."

That's from 2008 and I don't think he lived in the city, so maybe not exactly a perfect example but all he had to do was "change his home address"?

Finnucane• 11 months ago

When you're a billionaire, sure. Like the IRS is going to call you on it.

Also, he's claiming he owed ~$5 million a year in taxes. Which is a lot, but he spent $93 million to run for governor, and basically flushed all that money down the loo. He apparently has spent hundreds of millions on various charitable projects. So clearly, the taxes are not really burdensome. He just doesn't think he should have to pay them.

Atlas6676• 11 months ago

The problem with fake socialists is that they suggest solutions that do not fix the fundamental problem with democracies. That there isn't democracy.

How will higher taxes guarantee that they will be used appropriately?

How are the people guaranteed that officials will not be corrupted to divert that money into other projects?

How will the corruption, the largest problem in modern capitalist economies, be fixed by this?

No real answers, we just have to trust cause hes different?

Democracy is not trust, democracy is control. Don't be fooled.

birn559• 11 months ago

Just like with vaccines, some people apparently have lived in a first world bubble for so long and so deeply that they have forgotten what the alternatives really look like.

Of course there is democracy and corruption is much worse in non-democratic countries.

Atlas6676• 11 months ago

Most non-democratic countries that exist are capitalist countries.

Even the ones you're probably thinking about are capitalist, Russia, Saudi Arabia, Dominican Republic, Haiti, Sudan, etc. All capitalists.

Capitalism creates authoritarianism through corruption as a grey market business practice.

LightBug1• 11 months ago

I've never understood this subject.

These wankers are already optimising to pay as little tax as possible in their home state.

Hence, what does it matter if they threaten to leave or not?

They'll STILL be paying as little tax as possible.

nh23423fefe• 11 months ago

because zero is the smallest non negative number. other numbers are bigger and so if someone pays a tax the government can spend the money.

josefritzishere• 11 months ago

It's always empty threats. States could enact exit takes that make it even harder to leave as well. The Feds do that to expats.

k310• 11 months ago

Companies like X and Oracle have moved CA HQ to Texas (OOPS! after only 4 years, Ellison is moving HQ to Nashville), but lots of employees continue to work in CA. [0]

There seem to be three factors: Taxes on HQ, taxes on employees (always in the state where they work) and personal tax-dodging strategies. Go figure.

[0] https://californiaglobe.com/articles/oracle-moving-headquart...

Tax the Rich. They Won't Leave New York

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