Benjamin Franklin said, “Nothing can be said to be certain except Death & Taxes.” Or maybe… death BY taxes? I just saw an article which states NYC’s budget, the CITY, not the State, is about 92 BILLION dollars. OKaaaay. NYC’s population is roughly 9 million. doing just a little math, that is over $41,000 per year, paid in taxes for a family of 4. JUST for NYC taxes. Obviously, not everyone pays taxes. So, if only half of the city’s people pay taxes, this means that every NYC taxpayer is paying almost $21,000 per year for the privilege of living in NYC. But of course, you know not even half of the population pays taxes, and those who do, are paying for everyone else’s privilege. One question… How is this sustainable? Actually, this begs a second question… Is it any wonder the rich are bailing on NYC?
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Death & Taxes In NYC
5 replies on “Death & Taxes In NYC”
I’ve been to New York once. Cool place to visit, but I would hate living there.
It begs a third question, which is why anyone would want to come close to the place, let alone live there.
Well, some folks were born there…
They have legs, don’t they? It’s time to move on, sadly.
As I hinted in my post, many of the rich are leaving, not just the city, but the State. Cuomo is begging them not to go, and admits it will bankrupt the State. Now, for a single mother, with 3 to 5 kids, why would she leave? As the taxbase shrinks, services will get cut. When poor New Yorkers feel the pinch, then they will leave, or… it might get ugly.