Report: millionaires are fleeing NY
The NY Post headline reads: “Even New York’s millionaires are fleeing to less expensive cities.”
“Millionaire” sounds like a rich person—at least, it used to. But it occurs to me that in New York City these days a million doesn’t go very far. So why not take the money and run? In particular, if you own any real estate in New York, you can cash out and live like a king elsewhere.
But the first sentence is,
“New York City is forecast to shed more multimillionaires this year — .”
Because a net worth of $1M ain’t much in NYC.
They flee to preserve their money and bring their politics and political support with them.
Like Geoffrey said….
City and state are biting the hands that send in BIG tax money.
As long as they stay out of Iowa I could care less for what any NY millionaire does.
Geoffrey is correct.
Oregon and Washington used to fear “Californication” and were angry at any driver who had a CA license plate.
And they were correct — look where Oregon and Washington are now — hard blue.
“And they were correct — look where Oregon and Washington are now — hard blue.”
Unfortunately, Colorado is headed in the same direction.
“Unfortunately, Colorado is headed in the same direction.”
We already got there.
https://www.ksl.com/article/46522583/colorado-legislature-oks-bill-to-confiscate-firearms
Bubbles burst, these millionaires discovered they can buy croissants for a $1.49 apiece at Dunkin in other States. Thus must crusty, buttery delicious information flow — fleeing, fleeting: now to, now fro.
I see these stories often, where wealthy flee the high tax localities for cheaper pastures. But their homes are always bought by other millionaires who don’t mind paying those taxes.
The real population reductions come from the lower middle classes, who leave out of necessity. Their former middle class neighborhoods become ghettos.
But this is how you get wealthy states…a bunch of millionaires and their servant class. Little in between. It looks good on paper, to the tax collectors.
Aesop – And this one. A republican governor wouldn’t sign this.s
https://www.usnews.com/news/national-news/articles/2019-02-25/colorado-governor-to-sign-bill-to-sidestep-electoral-college-for-popular-vote
RE: “If you own any real estate in New York, you can cash out and live like a king elsewhere.”
Only if you get out now.
How does New York collapse? Slowly at first; than all at once.
RE: Geoffrey: “They flee to preserve their money and bring their politics and political support with them.”
Absolutely. Leftists turn their cities/states into sh!tholes, move to decent places, and turn their new homes into sh!tholes. Rinse and repeat. I’d like to see leftists stay and clean up their mess. but that never happens.
If the rich Dems moving out would realize that it was their stupid Dem policies that turned their nice places to live into excessively taxed places to flee from, maybe they would change.
But most don’t.
Because the dumb Dem policies have “good intentions”, and too much culture today supports intentions over results.
Magic thinking over reality.
So, so sad.
I think somewhere along the line “millionaire” stopped meaning someone worth a million and started meaning someone who makes a million a year. Heck, by the old standards I’m a millionaire. I sure don’t feel like a millionaire!
I always have to laugh at those commercials that New York state runs every once in awhile on TV, about how great a place the state of New York is for a business to move to or to start up in.
Yeah, right!
New York, New York – it’s a wonderful town —
The taxes are up, and the liberty’s down.
New York, New York!
It’s a wonderful town!
https://www.youtube.com/watch?v=x7CIgWZTdgw
“The best known line of this song is, “New York, New York, a helluva town. The Bronx is up but the Battery’s down.” For the film version, the word “helluva” was changed to “wonderful” to appease the Production Code offices.”
The original words appear to be more accurate these days.
Patrick:
Denver is demonstrating that all our Dem politicians are on a Rocky Mountain High.