
De Blasio actually can't raise New York taxes as Mayor. That is a state responsibility. However, not all banks know that and the result might be dire, especially if Albany sides with the Mayor. The biggest problem with taxing the rich to help the poor is that Wall Street corporations might relocate, the same way the BRICS countries are discussing creating a new World Bank abroad due to their frustrations with U.S. monetary policies. "One of the worst things that ever happened to California is that Bank of America picked up and moved to North Carolina. It bankrupted the state." Schneiderman's bank proposal, which could supposedly be the biggest deal in U.S. history, is less threatening because it's an opt-in policy for the banks. Taxes are not. Moderation in all things, New York. Apparently there's more to conservative wisdom than meets the eye...
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