Goldman Sachs CEO warns taxes could be NYC's downfall, saying urban centers aren't guaranteed a 'permanent place in the world'
We are so sorry! We bumped into a system failure and couldn’t take your email this time.Goldman Sachs' chief executive had strong words for New York City leaders, warning them against taking the wealthy's tax dollars for granted.
"New York has to be aware that there are good choices, and it's got to make sure it keeps itself super-attractive," Solomon said at the summit."At the end of the day, incentives matter, taxes matter, cost of living matters." Many of the wealthy New Yorkers who left have come back — but not all of them. And Solomon's words suggest that they might never, using their tax money as bartering power. last year found that the top 1% of New Yorkers had a combined $133.3 billion in income in 2018, and paid for 42.5% of the city's total income tax. Just 38,700 New Yorkers accounted for a massive $4.9 billion in tax revenue that year.
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