The future may not be as benign as our leaders wish us to believe. It is likely difficult to tax our way out of the current fiasco, but some will try. New York is such a place, but there are many more.
Whereas Governor Cuomo has made some mistakes, it is not always for want of insight. His point about wealthy people is well-taken.
““A single percent of New York’s population pays half of the state’s taxes and they’re the most mobile people on the globe,””
Does any rational person think the top layer of that 1% will all stay in New York to pay, the “Make Billionaire’s Pay” tax.
The article is interesting and may well point to problems to come elsewhere.
I would welcome any cogent explanation of how this will end well.
I help people understand and manage risk and other financial issues. To help them achieve and exceed their goals, I use tax efficiencies and design advantages. The result: more security, more efficient income, larger and more liquid estates.
Please be in touch if I can help you. firstname.lastname@example.org 705-927-4770