Results 1 to 3 of 3

Thread: Are Rats Leaving the Sinking Ship? Maybe Not

  1. #1
    God/dess threlayer's Avatar
    Joined
    Aug 2003
    Location
    Syracuse
    Posts
    5,921
    Thanks
    369
    Thanked 419 Times in 290 Posts
    My Mood
    Fine

    Default Are Rats Leaving the Sinking Ship? Maybe Not

    “Taxes Not Seen as Making the Rich Flee New York,” concluded a 2009 analysis/article in the New York Times that looked at the data behind the claims. The Wall Street Journal’s Wealth Report reached the same conclusion in February 2011: “New York’s Vanishing Millionaires – and Other Myths” was how the Journal summed it up.

    Even E.J. McMahon of the right-wing Manhattan Institute concedes the point. “I kind of clench my teeth every time [then-Gov.] Paterson says people will leave,” he told the Times in 2009. “It is the selling point. It’s also a dumb point,” McMahon said. “Nobody says your wealthy enclaves will shrink dramatically.”

    The authors of the Princeton study noted the difficulty of pinning down the motivating factors for migration patterns. But here’s what they did determine: people moving out of New Jersey are more likely to be on the lower end of the income scale, and move to places with lower housing costs. Similarly, a 2007 study by the New York City Comptroller looked at population data for a recent period when New York City temporarily increased income taxes on top earners (2003-2005). According to the New York Times, the city’s study found that “households with incomes of $250,000 and higher were the least likely to leave.”

    http://www.alternet.org/story/150595..._the_other_way
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

  2. #2
    God/dess threlayer's Avatar
    Joined
    Aug 2003
    Location
    Syracuse
    Posts
    5,921
    Thanks
    369
    Thanked 419 Times in 290 Posts
    My Mood
    Fine

    Default Re: Are Rats Leaving the Sinking Ship? Maybe Not

    Perhaps 'rules of thumb' and 'old wives' takes' are not sufficient to get at the truth.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

  3. #3
    Banned Eric Stoner's Avatar
    Joined
    Oct 2006
    Location
    NYC
    Posts
    5,150
    Thanks
    1,261
    Thanked 1,430 Times in 888 Posts

    Default Re: Are Rats Leaving the Sinking Ship? Maybe Not

    1. Those households are the LEAST likely to be paying the top rates in taxes. Inherited money grows mostly by Capital Gains which are taxed a LOT lower than money earned as salary or bonus. Similarly, hedge funders usually pay the capital gains rate.

    2. The most likely to move are the upper middle class. The owners of small businesses that can afford to relocate to lower tax states.

    3. Where the rich folks live is NOT necessarily where they pay taxes. There are a LOT of residents of Florida and some from Texas ( neither has state or local income taxes ) who "live" in those enclaves. States like N.Y. have been trying to crack down on the worst abusers with so far limited success. Those folks can also afford to hire the best tax lawyers and Albany lobbyists.

Similar Threads

  1. Replies: 0
    Last Post: 10-08-2009, 08:51 AM
  2. I Hate Rats!
    By PookaShell in forum The Lounge
    Replies: 21
    Last Post: 11-30-2007, 04:04 PM
  3. I have rats!!
    By AlexxaHex in forum Picture Post
    Replies: 11
    Last Post: 09-20-2007, 09:15 AM
  4. Phoenix, AZ is sinking!
    By discretedancer in forum Political Poo
    Replies: 8
    Last Post: 02-24-2005, 07:27 PM
  5. For the gym rats - sore elboes
    By Deogol in forum Body Business
    Replies: 5
    Last Post: 02-11-2005, 09:46 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •