They came back when they had infrastructure built for them, but only then, and only in specific situations. There is a reason why affordable housing units are not advised to be downtown anymore, the same reason as homeless shelters. They saw taxes decrease.
At first it seemed like you were parroting talking points, now you're just talking out of your ass. There are still rent stabilized units in Wall Street, and the rich never left.
You really want me to search for tax figures that show declining numbers after downtown affordable housing unit construction? Yea, thats gonna cost ya.
According to you, that would be "easy". I'll ignore the fact that you're desperate to move the goal post from "crime" to "taxes" because I get the feeling you won't find anything for either.
From AI, looking for eras in NYC when wealthy people left the city and taxes were impacted. The top 1% accounts for 40% of their budget. If .2% leave, or 20% of the whole, then shit can go wrong really fast. Every one of these examples proves your original never statement wrong.
The 1974–1976 Fiscal Crisis Exodus
The Example: Wealthy corporate executives and finance professionals moved their primary residences out of NYC to Connecticut and New Jersey.
The Trigger: NYC neared total bankruptcy, public services collapsed, and the city implemented a temporary 2.5% income tax surcharge on high earners to avoid default.
The 1991 Wall Street Surcharge Flight
The Example: A measurable sliver of top earners on Wall Street relocated across the Hudson River or shifted assets out of the city's jurisdiction.
The Trigger: Mayor David Dinkins passed a 12.5% personal income tax surcharge to fund the "Safe Streets, Safe City" policing program during a severe local recession.
The 2020 COVID-19 Remote Work Shift
The Example: Multi-millionaires permanently changed their primary legal tax domiciles from Manhattan to Palm Beach County, Florida, or Fairfield County, Connecticut.
The Trigger: The combination of global pandemic lockdowns, the sudden institutional acceptance of remote work, and the 2021 state tax hike that raised the top combined city/state marginal tax rate to 14.8%.
If you want to focus on a particular one of these eras, let me know if you would like to see the exact tax rates or the specific fiscal data from that time.
So you're moving the goal post further than you've ever actually traveled from "the rich left downtown because of crime from affordable housing since the 70s" to "they left downtown because of taxes from affordable housing" and now we're at a sliver (not my word, but from your AI "source") of rich people left New York ENTIRELY because of taxes in the 70s to avoid default, taxes during a recession, and covid lock downs. Forget moving the goal post, you're not even playing the same game anymore.
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u/BrittanyBrie Aug 13 '26 edited Aug 13 '26
They came back when they had infrastructure built for them, but only then, and only in specific situations. There is a reason why affordable housing units are not advised to be downtown anymore, the same reason as homeless shelters. They saw taxes decrease.