De Blasio: "our mission is to redistribute wealth"
https://twitter.com/DailyCaller/status/1340035130…
Nail in the coffin for NYC
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The reality is that the Democratic Party is becoming more and more full of rich, woke coastal elites who are out of touch with the working class. Greater redistribution seems to be the future policy of the Party, as if dumping more and more welfare money into suffering neighboorhoods, whether in NY or Appalachia will help. The focus should be on safeguarding our current American jobs and expanding these opportunities, but with the rapidly expanding technology and offshoring, redistribution will be the solution embraced by the Democrats. The dogmas of the dignity of work and building a healthy labor market and families will be completely ditched.
I have a few questions I haven’t found an answer to, but it stems from people who talk about retaining American jobs and technology. Disclaimer, I’m a software engineer. I wake up M-F and spend 6-8 hours a day automating things to make our system more efficient and require less people. I also work closely with a few offshore teams.
What American jobs can be retained? My concern is that these decisions are largely driven by profit maximization. It’s not like companies enjoy working with different time zones and language/ cultural barriers. But why pay someone an American salary when I can get 90%-100% of the same work done for pennies on the dollar? That increases margins and can improve stock performance (if public). A lot of manufacturing and energy jobs go offshore because they can. So it seems like the only way to retain jobs in America is to either lower expectations of wages (not going to happen), lower expectations of growth/ profits (not going to happen), offer tax breaks to American focused companies (sounds like regulation hell), or punish companies who use offshore resources (more regulation hell). Maybe there’s more options that I can’t think of right now.
So without a clear way to avoid offshore people, we can move on to technology. It’s going to continue to advance and that’s not a bad thing. We are obligated to keep up with it, not at the bleeding edge. But you don’t want to be “that guy” asking the intern for help starting up your computer every week. So why not invest in schools that can teach people to keep up with this? If they can’t do the jobs they used to, train them to do new jobs. Not everyone should learn to code per se, but there’s a lot of jobs in the field. Manual QA work is a good example of this, or scrum masters etc. Many will oppose the change, but that’s the natural order of things. Adapt or get left behind.
We’re not making these schools easily accessible. So without any real guidance on how to move forward, I think a safety net is warranted. American jobs aren’t coming back until we expect lower profits and are willing to pay more for our products. America is now a service oriented country in terms of how to generate wealth.
Fuck what if my taxes go up 2% and they build a new hospital in the Bronx. That’d DESTROY the city. My MD might make $980K instead if $1M and would probably quit his job and go on welfare since they just give it away to anyone. I’d make $147K instead of $150K and at that point I’m no different than some waitress making $50K a year. Oh the inhumanity!!!
We need to add “AOC simp” as a monkey shit option.
AOC is certified fine. My biggest turn on is when I'm about to finish and a chick sticks her finger in me and whispers in my ear "99% of income goes to the top 1%". BUSSSSSST
Yes, let's increase taxes so the NY teacher's union, which pledged last week to destroy the Western-prescribed nuclear family, can get more $ and resources from you just to teach your kids that all finance professionals and institutions are evil.
I promise you it's not that deep
There is nothing more sacred to me than the nuclear family. Me, my children, my wife, and the pool boy she's fucking are NOT going to be held hostage by this liberal blasphemy any longer!
Waitress? yeah maybe in 2019 ...
2020: zero dining rooms, zero dollars
everything is take out now bruh
What's bad about this post is not necessarily the spirit of it. The issue is the complete lack of economic understanding.
Sure, most millionaires woud react just as stated. Instead of earning $1M, they now earn $980K and life goes on. However, economics is all about effects on the margin. Out of a 1,000 millionairies, 30 or 40 may say, "You know what....this is the straw that broke the camels back. I'm moving to Texas or Florida." Some of them may even take their businesses with them.
Now, again, no big deal. 30 or 40 guys left. But that's just one tax. Pass another tax 30 or 40 more millionaires go. Pass another regulation, 30 or 40 more businesses leave. If you keep heading in the same direction and year after year are adding more taxes and more regulations, you're soon going to find your tax revenue actually going down. Plus, jobs will be going away too. And when that happens, good luck paying the bills at that Bronx hospital.
What's concerning with NYC is not any ONE particular tax or law, it's the general direction that the city is headed and the fact that economic incentives are being chipped away bit by bit. You're seeing the same thing play out in California. Is everyone in CA moving away? No of course not but on the margin people are leaving. If it continues for long enough, it WILL become a major economic problem for the state.
And what happens when those people on the margins move? They go to Florida and are accustomed to a lot of the non-financial things that make NYC a fantastic place to live. Nightlife that stays open later. Public transportation. Funding for the arts and places to enjoy those things. A vibrant and diverse economic and social life. Access to decent education. All of a sudden you're in Florida or Texas, and you start demanding some of this shit, and all of the sudden the politics in those cities and states turns more liberal. Which means marginal tax increases. Marginally more regulation. And now the gap narrows again, so NYC seems relatively more attractive. Plus, as people start moving out, cost of living comes down, and if the 5% increase in taxes is more relevant than the 20% expansion in COL, then that person who is moving isn't motivated by a bottom line anyway, but some other factor.
The folks who live in New York right now do so despite high taxes. It's not as if it was a cheap place to live 10 years ago under Bloomberg. You're point isn't a bad one, but you're not thinking through the overall effect of what even marginal net migration out of the city will do. Given how expensive NYC is, and how fast those expenses have been rising in the last few decades, there is no way to make the case that people moving are doing so because of "taxes". People want to live in NYC for all of the qualitative things that make the city great, and I'm pretty sure that most of the folks who live here will adjust to their taxes going up by 3k a year, by moving to an apartment that costs 3k a year less to live in, rather than uprooting and moving across the country.
My understanding of economics is thorough enough to know what I don’t know. There are hundreds of variables that go into this equilibrium equation in real life. The world isn’t an economics textbook where “all things are held equal” and the only equation is a consumer preference model with taxes being the only independent variable. I agree that NY is becoming a worse business environment but I just don’t like people using tax rate as a one-variable equation to determine the death of a city like it’s PHD level economic reasoning. In fact, the tax rate is in of itself a dependent variable that’s affected by the demand of NY’s other accommodations which draws more population to the city and thus taxes the infrastructure more, etc. The big picture equation takes 10 blackboards to write out and uses dozens of assumptions that are impossible to objectively quantify AND change over time. TLDR I agree with your nuanced take and was teasing people with knee-jerk reactions.
you are a complete moron who has never worked a day in his life. eat a dick
God he is electric
Stop being so anti-science guys. You're the real dictators if you don't want to go along with what the politicians say. If you're against this, you must hate poor people. All those other failures are capitalist propaganda and weren't real communism, this time it will be REAL communism and everyone will live together in harmony. Now give me all your guns, don't you know they're so unsafe that you or someone you know is more likely to be hurt in a gun accident than use it in self-defense? But I'm going to defund the police who you would now rely on for defense because see they're actually systematically racist pigs. And don't you dare sell or display any flags that I disagree with politically in my city, that's hate speech. Also I'm using your tax dollars to paint a political slogan on the street (without the proper permitting) and garner public appeal points. And I'm going to use more of those tax dollars to pay for police to protect my street painting, but you guys can do whatever you want to the storefronts because they have insurance. Vote Democrat or you're a bigot!
Well... Every government does this to some degree. In fact it's in econ 101 about how to do this effectively.
Have you heard of this thing called taxes? How about Social Security? Or did you know that redistribution of wealth can be done outside of government? (Ahem donations?)
No one should have problem with redistribution of wealth. Everyone should have problems with how it's done and how much its done.
Why the fuck would you call yourself “Milton Friedchickenman”?
and why the fuck does he have that picture
Lol. You don't know WTF you're talking about.
Redistribution of wealth includes charitable donations, which a proponent of free market economy like myself would claim is the "right" way to redistribute wealth. You could even argue that government has a role in creating a system where people have incentives to donate their wealth.
The government serves an important role as a safety net. You can't have an effective society without some government involvement because the private sector, while more efficient than the government, is motivated partly by greed. Quite a bit of the regulations in investments we have today are the result of a very bad experience we had during the great depression. When social security was introduced, people were living much shorter lives and it probably was not much of a financial burden for the country. Now, people are living into the 80s and beyond and it has become a tremendous burden for the US. I fully support the part of social security that helps poor people but the retirement component should be overhauled through privatization.
I think people generally agree with this, but income taxes in NYC are effectively ~13% before FIT. So to see how ineffective these ideas and plans have been and then to hear about taxes being raised is concerning.
Oh yeah taxes are ridiculous there.
But it's incredibly sad how people can't tell the difference btw saying "tax is necessary" vs "60% tax is necessary". People get too triggered too quickly nowadays. No one bothers reading into things so carefully.
To Florida
Fuck Florida. Place is a mess.
Texas is so much better.
Don't forget the rules. You are only allowed to make fun of California here.
Exactly. FL is too weird for me.
Texas and Florida are going to redraw districts in 2021 to help the GOP solidify power until at least 2030. If the GOP can hold into power until then, Florida will have 35 house seats, and Texas 43. California and New York are bleeding capital, both financial and human. California may recover, New York is probably lost. I lived in Cuba for a period of time, and can tell you first hand that socialism destroys lives. De Blasio will have succeeded in moving Wall Street to West Palm Beach.
The 2020s are going to be a bright decade moving forward. If one thing has always proven steadfast no matter how dim the political climate turns, it's real American patriotism and values.
global elites have no loyalty towards any country as their ideology is focused on eliminating them
good luck, you will need it
So my question that has been racking my brain for a bit. How do you guys think this will effect the luxury home sales market. Could there be dry out of the Hamptons in a 2-3 year time period. previously 18-19 was a slump in housing values there. Yet due to the pandemic it created a luxury sales frenzy. inventory was a record lows and people were buying way above market in outbidding frenzy's.
Out west in Aspen & Yellowstone club all but everything was scooped up or under contract. As for the Southwest Austin has ballooned almost pricing out current residents with property taxes with the influx of tech. North Dallas plano ect has banks eying up spots there as well, its urban sprawl galore. At the end of the day Texas and Florida are highly development friendly. I mean shit designer's are co-branding high rises all along Miami. With all this speculation of banks & HF hitting the palm beach Miami area could we see a large shift to FL main residence for tax purpose and longer beach season than long island.
Hamptons, but more so Montauk is bulletproof.
Can the people who flee these disastrous policies refrain from taking their politics with them? Typical Dems advocating for horrible policies and then being appalled when their taxes go up and their streets aren't safe
This place is toxic as hell lmaoo. We love big concessions to high earners and the lowest tax rates imaginable. But we hate the government because of debt which is only caused by spending on poor people. If the government supported high earners and just let poor people get what they deserve, this country would function much better.
Bro I’m just not tryna give 50%+ of my paycheck away. Many weekends and social events sacrificed for that money. Fuck NY we out
Did you watch the video? He's literally saying we should make schools more equitable across the city. The kids in the poor schools can't even read. It's not a bad thing. We desperately need to revamp our education system or our future generations are fucked.
This forum has gone to complete shit over the past few months.
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