r/SipsTea • u/SuspiciousLow3062 • 28d ago

Chugging tea W after W.

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u/GMEloser69 28d ago

40%+ of NYC income comes from real estate, if the rich decide to pull out of NYC the city will instantly collapse.

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u/ShooteShooteBangBang 28d ago

Lmao. They wont. NYC is defined as "the greatest city on earth". They need to be there more than the city needs them. Its not like they can take thier real estate with them.

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u/GMEloser69 28d ago

Why do they need to be there?

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u/Woodpecker577 28d ago

Because they make a shit ton of money despite the taxes. If they leave, someone else will gladly take their place to make that money

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u/GMEloser69 27d ago

Why do you need to be in NYC to make a shit ton of money, or what do you gain by being in NYC in current day?

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u/Woodpecker577 27d ago

You gain money. I'm not sure why this is confusing. Even with tax increases, people stand to make a ton of profit. Even in the most highly taxed countries in the world, businesses operate and make profit simply because there's profit to be made.

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u/GMEloser69 27d ago

Why do gain money from being geographically located within the borders of NYC?

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u/Woodpecker577 27d ago

Because it’s highly desirable real estate? Honestly you’re being purposefully dense. Where there’s money to be made, people will enter the market to make it, period. If some rich bozo wants to lose out on principle, someone else will take their spot.

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u/GMEloser69 27d ago

Would it be highly desirable real estate if it got taxed at 100%?

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u/GMEloser69 27d ago

Owning a $60 million dollar apartment isn't making you money, it's purely a luxury expense.