New York governor adopts Detroit economic plan for his state.

POLITICIANS WHO HAVE NO MANAGEMENT SKILLS, JUST RAISE TAXES 

WHEN THERE IS A MASS EXODUS FROM YOUR STATE OR CITY, RAISE THE TAXES ON WHO IS LEFT

The brilliant governor of New York, who is witnessing an exodus of people with means exiting his state and particularly his biggest city New York City, has found the solution, raise taxes. This, like blanket shutdowns, is the thinking of the incompetent leaders with no management skill and no ability to be innovative in a time of crisis. They really have no clue what to do, so they just shut down the economy or raise taxes. Very small and short term thinking indeed.

In the same week that it was announced that Goldman Sacks, the premier investment firm located in New York City forever, is now looking to relocate in south Florida. It is also reported that 70 other investment firms have already left the city. It is claimed that the office rental space in some buildings in the city is down to 5% occupancy. Which means that these owners will not be able to pay their mortgages and taxes. If Goldman Sacks leaves there will be a stampede out of the city.

New York could become indeed like Detroit, were the city eventually owned most of the buildings in the city, due to many just walking away from them, because it was not cost effective to own these buildings. After paying taxes and expenses they were all losing money.

New York kept their subways running, with many homeless using them for living space and lost control of the virus. Then reacted by shutting down most business while allowing the subways to run. They took no measures to cut costs of a government that was not functioning, hoping to be bailed out by the Federal government. The federal government has incurred trillions in debt attempting to keep business alive, while many of these states only focused on keeping their government workers 100% whole. Now they find that it is unlikely that the federal government will be able to bail them out and their tax base is decimated by their policies. Answer, raise taxes. Only someone who thinks like a child could come to such a conclusion. Actually someone who has practical experience will come to this conclusion.

These cities and states need to focus on how to increase business and prosperity, not take more of the little that is left. This like eating the corn seeds needed for next years planting. We will see what they will do. If history is any clue, they will continue to punish what is left until it is all gone.

Likewise for the federal government, if they think they are now going to bail out these incompetent cities and states by raising taxes on everything from A to Z, we will be on our way to the next economic depression.