uptowngirl

Making NYC Business Friendly

This morning I was out and about in the city and is my want I was reading the Avenue magazine which is distributed free in my building. Its a Manhattan society magazine full of features about NYC's real estate , parties, beautiful people and much more . Anyway the current issue has an interesting article about methods to save NYC's battered finances and reduce the city's dependency on Wall Street bonuses. The magazine has interviewed heavyweights like Maria Bartiromo of CNBC, Ariana Huffington and Wilbur L Ross Jr who all seem to advocate making NYC more business friendly and reducing the tax burden on the rich who are sure to take flight if taxed any further. I kind of agree with their point of view but dont know whether they are just pandering to their readers have a look and decide for yourself-
http://www.avenuemagazine-digital.com/avenuemagazine/201002/?pg=50#pg50

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ajadedidealist 2yrs+

Interesting magazine - although I've never heard of it before! I'm not sure I agree, though - NYC will attract businesses of the super-rich no matter what; it's the small business owners, etc, who need help, and plenty of those taxes are going to programs that support all but the super-wealthy...

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uptowngirl 2yrs+

@ajadediealist I seemed to understand from the article that if authorities to be in NYC actually lowered the cost of doing business in the city many of the small businesses would continue to thrive and not be forced to down their shutters. Also interesting was Dick Morris's point which he illustrated with examples of the states of California and Texas. California has imposed high rates of taxes on its wealthier citizens while Texas has managed to keep taxes lower and yet has consistently enjoyed lower unemployment rates than California.

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hhusted 2yrs+

@ajadedidealist: I agree that even if the super-rich were to leave the city, others, who are rich would simply come in and replace them. There will always be the filty rich in this city no matter what.

@Uptowngirl: Although Texas may have lower taxes, and less unemployment, they are also much smaller than California.

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uptowngirl 2yrs+

@hhusted I think Texas is the second largest state in the US (Alaska is the #1) though California which is third in terms of size is definitely more populated than Texas.

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Uraniumfish 2yrs+

@uptowngirl Oh, I think they were pandering to their readers there. The rich are always crying about getting tax breaks, and since they're rich and connected, they get heard above the poor who complain about having anything approaching a decent standard of living...I think I said something in another post about the rich treating NYC like their personal playground.

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hhusted 2yrs+

@Uraniumfish: The rich are connected because they have their social register of other rich folks to hang out with. And those rich folks are connected to politicians and other higher ups. That is why the richest ones get laws passed for them because they have friends in high places, whereas the poor do not. That is why when you go into certain major cities, the poor people have a public advocate who fights for their rights. I believe NYC also has a public advocate for the poor. Just not sure who it is.

@uptowngirl: You are right. Texas is the 2nd largest according to land mass. The reason it is larger as compared to California, is because California is more spread out where as Texas is like a big odd-shaped mass. The total area of land, water, and people in Texas is 268,581 as compared to California, which has 163,696.