From John Paulson of Paulson & Co:“The top 1% of New Yorkers pay over 40% of all income taxes, providing huge benefits to everyone in our city and state. Paulson & Co. and its employees have paid hundreds of millions of dollars in New York City and New York State taxes in recent years and have created over 100 high paying jobs in New York City since its formation.
New York currently has the highest income taxes of any state in the country and thousands of businesses have fled New York to states with no income taxes such as Florida, Texas and Nevada, or moved offshore.
Instead of vilifying our most successful businesses, we should be supporting them and encouraging them to remain in New York City and continue to grow."
From New York Mayor Michael Bloomberg:“The majority of people who work in the financial services sector make something like $72,000 a year. They’re hard-working people and just bashing them doesn’t make a lot of sense.”
“And if you focus for example on driving the banks out of New York City, you know those are our jobs … You can’t have it both ways: If you want jobs you have to assist companies and give them confidence to go and hire people.”
“You know, Jamie Dimon is one of the greatest bankers, he’s brought more business to this city than maybe any other banker...To go and pick on him, I don’t know what that achieves. Jamie Dimon is honorable and works very hard and pays his taxes.”
This is the personal blog of Emory Redd.
This blog is not investment advice. This is not a solicitation to invest. Don't take candy from strangers.
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