All the major Democrat-run cities are toast, but New York’s downfall is a reflection of a special kind of stupidity, mostly by Mayor Bill de Blasio. From Peter Van Buren at theamericanconservative.com:
Without anyone left to pay for the city, the Big Apple is headed for a failed state.
It’s easy to stress how far apart the rich and the poor live, even though the mansions of the Upper West Side are less than a mile from the crack dealers uptown. The rich don’t ride public transportation, they don’t send their kids to public schools, they shop and dine in very different places with private security to ensure everything stays far enough apart to keep it all together.
It’s snapshot simple. The wealthy and the companies they work for pay most of the taxes. The poor consume most of the taxes through social programs. COVID is driving the wealthy and their offices out of the city. No one will be left to pay for the poor, who are stuck here, and the city will collapse in the transition. A classic failed state scenario.
They pay the taxes. The top one percent of NYC taxpayers pay nearly 50 percent of all personal income taxes collected in New York. Personal income tax in the New York area accounts for 59 percent of all revenues. Property taxes add in more than a billion dollars a year in revenue, about half of that generated by office space.
Posted in Collapse, Crime, Economy, Government, History, Medicine
Tagged Covid-19 response, George Floyd riots, New York City emigration
The mystery isn’t why there’s an exodus out of New York, particularly its tax base, but why anyone would want to stay. From Simon Black at sovereignman.com:
France settled much of modern day Quebec in Canada, and England initially settled colonies in the mid-Atlantic.
The English and French didn’t have much in common, and they were bitter rivals. But one thing they did agree on was their mutual hatred of Jewish people.
This was part of a long tradition in Europe. Jews had been expelled from England in 1290. France kicked out all its Jews on at least three occasions from 1192 to 1394.
Spain expelled its Jewish population the same year Columbus sailed for the new world, and Portugal followed a few years later.
And still in the 1650s, Jews were banned from the French and English colonies in North America.
The Governor of the Dutch colony, “New Netherland”, also tried to turn away a group of Jewish refugees in 1654.
But the West India Company, which essentially founded and ran New Netherland, intervened, and convinced him otherwise.
It’s not that the West India Company was into “celebrating diversity.” It simply came down to economics. They wanted productive, talented people to settle their colony.
So the West India Company gently reminded the Governor that a large portion of the colony’s capital had come from Jewish investors.
A small settlement on the tip of Manhattan called New Amsterdam was especially tolerant.
Posted in Business, Civil Liberties, Collapse, Crime, Economy, Government, History, Taxes
Tagged New York City emigration
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