patrick.net

Yes, but he got elected. Twice.....

I thought that was the way New Yorkers talked to everybody.

Ah, I love that accent!

It is indeed odd how many New Yorkers seem to hate that man, yet he keeps getting elected. Benford's-law check out?

Karloff says

Ah, I love that accent!

Way back in the late 80's and 90's I did carpet and there was a large transplant population and their snow birds. They were my favorite Customers to put carpet in. If you did a good job, they recognized it, they cooked for you, tell you WWII war stories(these guys were vets and Holocaust survivors.) pour you a shot after the job, and tip you a hundred bucks.
They were cool people, the Deli owners, the Diner owners, Pizza joints, they were everywhere. I miss those businesses.

I thank God, literally, that I grew up with old school New Yorkers, they were something else.

NoCoupForYou says

I thank God, literally, that I grew up with old school New Yorkers, they were something else.

I grew up calling them damn yankees but nowadays I greatly appreciate them. Beats the weak (individually) young and foreign commies any day.

https://news.yahoo.com/york-facing-exodus-city-raises-202652178.html

New York City facing exodus after officials hike taxes to plug Covid-19 shortfall

Under the new rate, which is expected to soon be rubber-stamped by Governor Andrew Cuomo, the city’s top earners could pay up to 14.8 per cent tax - a combined federal, state, and city tax which could reach 52 per cent.

The move sees the state overtake California, which has the current highest combined tax rate for top earners in the US, and much of Europe.

Business leaders and CEOs this week warned that the increase is likely to backfire by driving away the very people and companies the city relies on for its revenue.

The wealthiest two per cent of New Yorkers contribute half of the city’s revenue. However, many of them fled at the start of the pandemic.

New York was the number one state for population loss in the US last year, according to Census Bureau data. More than 300,000 New York City households in higher-income neighbourhoods filed change-of-address forms, resulting in the largest decline in property tax receipts in nearly 25 years.

Some have returned, but many more have stayed away.

Local Republicans senators protested the budget, saying the “unsustainable” level of taxation could also drive young New Yorkers and opportunities away from the state.

“We did not see these really big challenges to the city’s financial stability even after 9/11 and the financial crisis,” said Edward Skyler, head of public affairs at Citigroup and a former deputy mayor, suggesting there was no easy fix.

Mr Cuomo, a Democratic and fiscal centrist, had for years fought the progressive wing of the state legislature, believing a tax hike would be counter-intuative. However, facing mounting allegations of sexual harassment and a $1billlion funding gap caused by the pandemic, the third-term governor has been forced to yield on everything from taxes, to spending, to charter schools and criminal justice.

Meanwhile, wealthy Americans across the country are facing the threat of the federal corporate tax rate going up under President Joe Biden’s administration.

Mr Biden has declared he wants to raise the corporate tax rate to 28 per cent, as well as hiking taxes on those earning over $400,000 (£265,000) in order to pay for his $3 trillion infrastructure plan, saying it was time for companies like Amazon to pay their “fair share”.

HeadSet says

Yes, but he got elected. Twice.....

At this point, how do we know?

I don't trust elections anymore.

Karloff says

Benford's-law

Thanks @Karloff I didn't know about Benford's Law:

https://towardsdatascience.com/benfords-law-a-simple-explanation-341e17abbe75

I see is as simply the result of a sum or product of numbers having a higher probability of "spilling over" into 1 than happening to 2, higher probability of spilling over into 2 than 3, etc.

NYC's decline actually started with Hurricane Irene, back in 2011.

https://en.wikipedia.org/wiki/Hurricane_Irene

Extensive flooding of the entire city's infrastructure led to the financial industry to develop backend servers, networking services, etc, in other parts of the country (ala not nearby New Jersey but Delaware, Carolina, and the midwest), making the city more a sales office or let's say "deal making" office than a place where actual work got done.

With that as a backdrop, the Covid thing simply was the "Go West (or South)" button which made the overpriced city more or less, obsolete to the world of finance.

Understand this, the 'City of London', meaning the "Square Mile", not the metropolis of Greater London, is a tax haven. Many hedge funds will keep something there, to avoid taxes. This tax haven has been there, since the dawn of the British Empire and has not change with its own mayor, separated from the mayor of Greater London. As long as this continues, London will be a financial center, even if the UK becomes a poor country.

In contrast, New York CIty's ascent is directly tied to its psychological positioning as the gateway to the USA and its vast material and financial empire. Once any US city can be a 'USA Gateway' then NYC is done and will be a supersized white collar rust belt town with lots of crime and political corruption ala Chicago style.

Sure, come 2040, some ABC Capital Inc or even Lazard Asset Management may keep an office on 1234 Ave of the Americas (6th Ave) but it'll be an office of two employees, just to forward messages to Charlotte NC, Des Moines IA, Wilmington DE, or Sioux Falls SD.

Patrick says

higher probability of "spilling over" into 1 than happening to 2, higher probability of spilling over into 2 than 3, etc.

The way the Titanic sank.

Patrick says

Karloff says

Benford's-law

Thanks @Karloff I didn't know about Benford's Law:

https://towardsdatascience.com/benfords-law-a-simple-explanation-341e17abbe75

I see is as simply the result of a sum or product of numbers having a higher probability of "spilling over" into 1 than happening to 2, higher probability of spilling over into 2 than 3, etc.

It's not fool-proof but has been successfully used in accounting to detect fraud and you can bet the election number stink and would flag the election account for immediate fraud review ;)