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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The reality is that either Eric Adams wins the general election or the 1% will continue to flock to Florida and Texas, as will businesses, and the middle class who can't leave will bear the burden. Raising business taxes by 55% doesn't help if then the businesses leave. Same with the 1%.

Basically, a Catch 22 for NYC. [/quote]

well duh.  that's the problem with socialism.  the demand for free stuff by the masses is infinite, but the ability of the 1% to pay for it is finite, not to mention their willingness to pay for it.[/quote]

If business taxes are raised by 55%, those businesses will pass those taxes right along to their customers in the form of much higher prices for their products and services and lower employee benefits. Businesses may sign the check but they don’t actually pay taxes, their customers do. Silly liberals. They just don’t understand economics. [/quote]

They already left after the recent round.

The irony is that this “affordability crisis” is the result of failed Democratic governance. Rent control and eviction limits have caused landlords to take tens of thousands of apartments off the market. A higher minimum wage raised the cost of food and other basics, while rich union contracts keep transportation inefficient and costly. Climate bans and mandates have raised energy costs.

Mr. Mamdani’s solution is more socialism. He wants even higher taxes on already overtaxed businesses and high earners (top city tax rate: 14.78%), government-run grocery stores, free bus rides, and a mandatory freeze on 43% of the city’s rental units. These policies won’t work, but they sound appealing to Democrats who don’t think.
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