Comments on: New York City: Is It Always Getting Poorer? Or Just Getting Poorer Now? http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now Seriously, this could not be more beta Sat, 20 Mar 2010 20:49:26 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: morose_delectation http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33383 morose_delectation Tue, 27 Oct 2009 21:07:19 +0000 http://www.theawl.com/?p=16771#comment-33383 hmm, but according to NYC.gov, the population of the 5 boroughs increased by 355,432 people between 2000 and 2008. The fact that the NYC population is growing overall--even if you do assume that the newcomers make slightly less than people who have left--means that if you use the report's $72K ballpark, taxable income in NYC increased to the tune of more than $25 billion since 2000. Which seems like it would cancel out what was lost by the flight of the richies. no? hmm, but according to NYC.gov, the population of the 5 boroughs increased by 355,432 people between 2000 and 2008.
The fact that the NYC population is growing overall–even if you do assume that the newcomers make slightly less than people who have left–means that if you use the report's $72K ballpark, taxable income in NYC increased to the tune of more than $25 billion since 2000. Which seems like it would cancel out what was lost by the flight of the richies. no?

]]> By: NinetyNine http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33370 NinetyNine Tue, 27 Oct 2009 20:42:06 +0000 http://www.theawl.com/?p=16771#comment-33370 Oh, and why would the repeal of the commuter tax encourage migration <i>out</i> of the city? As much as people carp about taxes, there's very little causal evidence that anyone every moves anywhere because of tax rates. It's an expense like anything else. People flock to New York even though it housing costs should be a massive deterrent. Oh, and why would the repeal of the commuter tax encourage migration out of the city? As much as people carp about taxes, there's very little causal evidence that anyone every moves anywhere because of tax rates. It's an expense like anything else. People flock to New York even though it housing costs should be a massive deterrent.

]]> By: NinetyNine http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33369 NinetyNine Tue, 27 Oct 2009 20:39:45 +0000 http://www.theawl.com/?p=16771#comment-33369 Not really true, except at the highest level. City tax nets against State (NY), so if you owe $5K to the city and $8K to the state, you don't pay $13K (again, unless you are in the very upper brackets, and then there are plenty of ways to avoid that). There are plenty of what-have-you's, but the short version is, if you derive income from NYC and live within the tri-state area, the amount of money you pay in taxes is going to be close enough that it doesn't impact your migration patterns nearly as much as other significant cost and lifestyle choices (school districts, home ownership, etc). Unless you are some Wesley Snipes sort of nut job, in which case you already moved to a cave in New Hampshire. Not really true, except at the highest level. City tax nets against State (NY), so if you owe $5K to the city and $8K to the state, you don't pay $13K (again, unless you are in the very upper brackets, and then there are plenty of ways to avoid that). There are plenty of what-have-you's, but the short version is, if you derive income from NYC and live within the tri-state area, the amount of money you pay in taxes is going to be close enough that it doesn't impact your migration patterns nearly as much as other significant cost and lifestyle choices (school districts, home ownership, etc). Unless you are some Wesley Snipes sort of nut job, in which case you already moved to a cave in New Hampshire.

]]> By: Tuna Surprise http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33364 Tuna Surprise Tue, 27 Oct 2009 20:32:47 +0000 http://www.theawl.com/?p=16771#comment-33364 Except you get out of paying NYC municipal income tax. I guess the real question would be if the repeal of the commuter tax had an real influence on people leaving the city to live in NJ, LI or Westchester. Except you get out of paying NYC municipal income tax. I guess the real question would be if the repeal of the commuter tax had an real influence on people leaving the city to live in NJ, LI or Westchester.

]]> By: DavePekkle http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33360 DavePekkle Tue, 27 Oct 2009 20:27:26 +0000 http://www.theawl.com/?p=16771#comment-33360 Maybe Moe could explain? Maybe Moe could explain?

]]> By: HiredGoons http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33349 HiredGoons Tue, 27 Oct 2009 20:07:59 +0000 http://www.theawl.com/?p=16771#comment-33349 Their. Ewwwwww. Their. Ewwwwww.

]]> By: atipofthehat http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33341 atipofthehat Tue, 27 Oct 2009 19:58:58 +0000 http://www.theawl.com/?p=16771#comment-33341 The people moving in are in thigh-high boots. The people moving in are in thigh-high boots.

]]> By: HiredGoons http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33334 HiredGoons Tue, 27 Oct 2009 19:52:52 +0000 http://www.theawl.com/?p=16771#comment-33334 "And, of course, almost a third of New York state leavers went to Florida." All right, so it's 1.1 million rich old Jews leaving (my Aunt Charla among them) to Miami Beach. There money circulates back into our economy anyway by way of birthday and Hanukkah cards to their grandchildren. "And, of course, almost a third of New York state leavers went to Florida."

All right, so it's 1.1 million rich old Jews leaving (my Aunt Charla among them) to Miami Beach.

There money circulates back into our economy anyway by way of birthday and Hanukkah cards to their grandchildren.

]]> By: NinetyNine http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33326 NinetyNine Tue, 27 Oct 2009 19:38:28 +0000 http://www.theawl.com/?p=16771#comment-33326 Ignore it. NYC has one of the highest median incomes (and for a city this size, the highest) in the country. So people move here and there income goes up. They leave because of real estate costs more than taxes, since they ended up allocating tax earned in the city as long they are in the tri-state area (NJ and CT have reciprocal tax relationships). The only tax you can really point to is unincorporated biz tax, but even that deducts against state. Short version is, if you live in CT and work here, you tax burden is probably pretty similar, but your living quarters are more generous. Ignore it. NYC has one of the highest median incomes (and for a city this size, the highest) in the country. So people move here and there income goes up. They leave because of real estate costs more than taxes, since they ended up allocating tax earned in the city as long they are in the tri-state area (NJ and CT have reciprocal tax relationships). The only tax you can really point to is unincorporated biz tax, but even that deducts against state. Short version is, if you live in CT and work here, you tax burden is probably pretty similar, but your living quarters are more generous.

]]> By: lempha http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33322 lempha Tue, 27 Oct 2009 19:27:59 +0000 http://www.theawl.com/?p=16771#comment-33322 Would love to see the numbers on average income for non-migrating Manhattanites, but it seems to be omitted in the report. Would love to see the numbers on average income for non-migrating Manhattanites, but it seems to be omitted in the report.

]]> By: NicFit http://www.theawl.com/2009/10/new-york-city-is-it-always-getting-poorer-or-just-getting-poorer-now#comment-33320 NicFit Tue, 27 Oct 2009 19:20:49 +0000 http://www.theawl.com/?p=16771#comment-33320 Yeah, but by the looks of it, there were 1.1 million babies born in that time frame, so it evens out. Yeah, but by the looks of it, there were 1.1 million babies born in that time frame, so it evens out.

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