Absent aid, few US cities will be able to avoid austerity

Re:Absent aid, few US cities will be able to avoid austerity by robocat on Tuesday September 22, 2020 @06:08PM (#24560559)

The highest earning 1 percent of New York City residents generated 43 percent of city income taxes

From (biased but presumably factual): https://www.empirecenter.org/publications/nycs-high-income-t...

Edit: just trying to add info, not bias the conversation! Maybe also relevant: https://www.visualcapitalist.com/3d-map-the-u-s-cities-with-...

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Re:Absent aid, few US cities will be able to avoid austerity by free_rms on Tuesday September 22, 2020 @06:13PM (#24560598)

So that's 43% of 13%, call it 5%. A far cry from 71.

And if I'm not mistaken, the city still gets that money as long as the job is located there anyways.

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Re:Absent aid, few US cities will be able to avoid austerity by soldierof4chan on Tuesday September 22, 2020 @08:00PM (#24561462)

A common misconception. You don't pay NYC income taxes if you don't live in NYC.

It also stands to reason that other tax receipts will go down if people move away e.g. rents go down -> propery values assessed downwards -> taxes decrease.

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Re:Absent aid, few US cities will be able to avoid austerity by julianapostate on Tuesday September 22, 2020 @07:52PM (#24561418)

That’s 1% not the 10% from the original comment

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Re:Absent aid, few US cities will be able to avoid austerity by free_rms on Tuesday September 22, 2020 @11:33PM (#24562655)

Ok, but it's still out of 13, so maybe we're going for 8?

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