Every dollar out of a rich person pocket is a dollar out of asset investments portfolios and another dollar in the local economy
I agree, but…
I think that undersells the effect of even this minor tax on the rich
I think that saying “they zeroed their 12 bil deficit thanks to the wonders of taxing the rich” is overselling what they actually did to the extreme. They got 1/24th of the needed money from pied-à-terre tax. The true “wonder” was the 7 or 8 billion they got from the state.
I agree, but…
I think that saying “they zeroed their 12 bil deficit thanks to the wonders of taxing the rich” is overselling what they actually did to the extreme. They got 1/24th of the needed money from pied-à-terre tax. The true “wonder” was the 7 or 8 billion they got from the state.