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Where's NY rank on effective top income tax? Is it the owner's fault NY incentivises leaving based on that alone? I'd be asking the state to foot the bill as well, they certainly help themselves to enough.A guy worth $5.4 Billion per Forbes Terry Pegula's net worth increases in Forbes' annual billionaires list or up to $7 Billion elsewhere has the gall to demand full taxpayer payment of a $1.5B stadium in a state that has a $6B hole in its budget coming out of ( hopefully) a pandemic?????
LEt's paint a picture of this next to the word non-starter in the dictionary.. Bills fans deserve better.... and the team will likely move....
Maybe they should flatten the entire state and start over. Make it like North Dakota.Where's NY rank on effective top income tax? Is it the owner's fault NY incentivises leaving based on that alone? I'd be asking the state to foot the bill as well, they certainly help themselves to enough.
3 football teams and they can't keep a single one in the state? Well done NY!
If NY incentivizes leaving, how come people are pouring into NYC?
I know people who are involved in NYC real estate in the banking side. The pressure is upward. People from NYC are buying more 2nd houses in high tax states like CT and NJ because of the pandemic but their NYC base is holding steady. Seriously NYC and CT were not built for more people. These are small places with infrastructure bursting at the seams.
Three million population growth since 2010.
However, percentage-wise, NY overall (including NYC) declined in growth over the last ten-year census period. So "pouring" as a term is absolutely relative.
In 2020, several media stories reported that residents were leaving urban neighborhood because they feared contracting COVID-19. However, people's taking flight from urban areas is only part of the reason dense neighborhoods were left with fewer residents.www.clevelandfed.org
More so, the pandemic created some outward migratory pressures from urban areas under certain very specific conditions that is still underway with an indeterminate end state.
All of this is to say that the pandemic (and now a very different economy taking shape out of it) has, and will have, very interesting impacts on all aspects of life to include the old "I'm going to move my NFL team if you taxpayers don't build me a stadium". That tactic may work, it may not.
This ties back to the consumption model discussed earlier as well - is a fan-filled 55K capacity stadium even the most profitable future model? Or is it some other method of fan consumption such as pay-per-view, VOD streaming?
Regardless, just happy ole Bob didn't let the Patriots move to St Louis (as they'd likely be the Rams now.....).
Even though there is debate over exactly why they Whalers left, the fact they did leave and no new team could be lured in says there really wasn't much interest in pro hockey to begin with. In my experience one could walk up on game nite and get good tickets at face value from season ticket holders selling off extra tickets. This of course was before online sites made it so they didn't need to do that.I was still a kid when they left but I went to a handful of games as a kid and always thought it was cool CT had its own professional team. Most of the state seemed to lose interest in hockey which is an anomaly when compared to the rest of the New England states.
When I was at UConn there was a hockey rink on the edge of campus. Dorms could apply for a time window to use it, often granted at absurd times of the day after midnight. Like all things college, it ended up being an excuse to drink. Luckily or not I was an engineering student so had no time for that particular form of partying.Hockey interest increased though at the youth, prep and high school levels. Obviously the university also now has a Hockey East team.
If so many people want to live there, how come so many are willing to leave $ on the table to wfh? Poll after poll, the results are the same for employees. Companies with office locations in income tax convenient fl/tx/no tax vs NY/employer convenience taxes have a massive upperhand as talent reshuffles.Maybe they should flatten the entire state and start over. Make it like North Dakota.
Ever think that NYC is so outrageously expensive (taxes, property, transportation) for a reason. This is what happens when people are drawn to a place, and so is the money. If it sucked and no one wanted to live there, there'd be affordable housing, affordable land for football stadiums, no need for subways and public transport, no need for massive new bridges like the Tappan Zee that cost $4 billion, no need for multiple tunnels, no high taxes, etc.
If NY incentivizes leaving, how come people are pouring into NYC?
Same stuff is said about Connecticut, and yet the highways are jammed and the entire state is like a giant parking lot. Incredibly different than it was just 20 years ago. People are now pouring into the east coast of Connecticut which was once just a collection of modest little towns. If you're from Connecticut and someone says this state is overtaxed (which it is), "That's why people are leaving!" tell them they aren't freaking leaving fast enough!!!!!
Like in 2008, prices drop--then rebound quickly. In 2008, my friend bought a beach house for $395k on old Silver Beach in Falmouth in Taxachusetts of all places. Sold it for $2m this summer.If so many people want to live there, how come so many are willing to leave $ on the table to wfh? Poll after poll, the results are the same for employees. Companies with office locations in income tax convenient fl/tx/no tax vs NY/employer convenience taxes have a massive upperhand as talent reshuffles.
The employees were forced there. Plain and simple.
Go google NYC's estimated tax deficit from covid. They're done. What went on with Detroit a few decades ago will look like a cute bedtime story. The bail nonsense is just a self-inflincted cherry on top, and when the private/commercial eviction bans end in NYC, it is going to get ugly. If the foot traffic that crossed biz thresholds daily isn't entering the city in the first place, it's a matter of time before remaining biz crumbles.
When physical space is consistently given the ultimate premium with regards to living accommodations (even the small end of the spectrum places emphasis on the specific lack of it in mobilities name, sorry gotham ), what makes you think highly intelligent and valued professionals would opt for work arrangements that dictate living in overpriced, over-taxed, squalor?
People may be moving into NYC, but how much money do they make vs those who left? Lol, NYC's deficit was enough to torpedo all of NY if not for a fed bailout...wake the **** up.