Re: Wacky Bloomberg
I don't suppose you have a reliable source for that...
Bloomberg, actually...
These high-earners already contribute more than 43 percent of the city’s income-tax revenue
That is for 35,600 individuals, did not notice the typo in the original.
Out of about 8.337 million people (
http://www.worldpopulationstatistics.com/population-of-new-york-city-2013/)
so 0.43% of the population pays 43% of the taxes.
Sounds kind of unstable to me!
especially as many of these "rich" people are athletes and entertainers who perform in multiple venues, each of which assess their own income taxes pro-rata based on the number of days spent in each one. Yes, pro athletes pay state income tax in every state in which they play a game. After all, even one day's pay for these guys brings in substantial income tax revenue for each state. Given Alex Rodriguez' suspension, for example, if he doesn't set foot in New York City this year at all, the absence of that one person would cost the city about $700,000 ($28 million * 3.38% = $946,400 total; pro-rate for 81 games played outside New York = $736,377). Look at this example, though. Except for the travel, one rich athlete = nearly $1 million in city tax revenue. He gets traded or retires to Florida, and that income tax revenue disappears or is drastically reduced. How can you describe something that unreliable, that volatile, as a "guaranteed" revenue source???
I remember when we lived out west, a big news story at the time was that
one person moved from Utah to Wyoming, and it cost Utah about $4 million dollars in state income tax revenue each year.
What is even more ironic is that New York City's "rich" are also among the world's most philanthropic. All this bovine fecal matter about "their fair share"

my guess is that the complainers contribute very little to anyone else other than themselves. Somehow there seems to be an inverse correlation between envy and generosity.
Also, de Blamio seems unaware that Dodd-Frank is killing profits in investment banks (not saying whether
that is "good" or "bad", merely noting that it
is). So the scourge of civilization in many people's eyes is finally getting a well-deserved come down....except that also means a lot fewer "rich greedy bankers" to tax.
PS can't find it now, but of the "rich" nationwide, only about 14% were bankers, about 30% were athletes and entertainers, about 41% were executives in non-financial companies, not quite sure about the remaining 15%. Seems bizarre to me to use the term "rich" to describe someone with a high income in the first place, since so many people think "rich = wealthy" and wealth correlates to net worth, not to income.
So next time you think of those "evil, greedy, rich people" think of LeBron James or Jennifer Lawrence and ask yourself if that stereotype really fits!