Wealth Is ‘in the Wrong Hands,’ Mayor Says, Pledging to Redistribute It

[mystery-ak]

By J. David Goodman and William Neuman

    Jan. 10, 2019

A new ferry route will link Staten Island to the West Side of Manhattan. New Yorkers who don’t get paid vacation will soon have two weeks.

And wealth in the city will be more evenly distributed.

Those are some of the promises Mayor Bill de Blasio is making in his State of the City speech on Thursday, his sixth since taking office and one that clearly articulates his view of how he has changed New York City as he prepares to embark on a national tour to trumpet his accomplishments and proposals.

“Brothers and sisters, there’s plenty of money in the world. Plenty of money in this city,” his prepared speech reads. “It’s just in the wrong hands!”

In the speech, being delivered at Symphony Space on the Upper West Side at 11 a.m., the mayor presents his leadership of New York as one that has made streets safer and brought new protections for tenants and workers. He casts himself as an aspiring Robin Hood — aiming to take from the rich and give to the poor — even as he has thus far been unsuccessful in his many attempts to raise taxes on high earners.

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https://www.nytimes.com/2019/01/10/nyregion/de-blasio-state-of-city-speech.html?partner=rss&emc=rss

[Applewood]

Another reason why I hate New York and will never set foot in it again.

[Absalom]

This bozo has given new meaning to the descriptive, schmuck!!!

[Wingnut]

Big Bird is on a roll. 

[Ghost Bear]

According to this website, Mayor DeBlasio has a net worth over $2.5 million. My savings amount to a few thousand. I think the good mayor should give me some of his money.

[andy58-in-nh]

One wonders how all that money got into the "wrong hands".... 

Was it stolen? No. Was it earned by fraudulent means? No.

Whose "wrong hands" is he talking about? The people who earned the money.

And just what does Gotham's esteemed mayor plan to do about that? Steal it of course, using tax policy as the thief, and government as the gun. 

Will wealthy New Yorkers just hand over the loot without a fight? Of course they will: they long ago submitted to the demands of looters, based on unearned guilt. And besides: they are largely unarmed.

[edpc]

The majority of the time, those with wealth attained it through ideas, goods, and services. Even if you redistributed all of it, it’ll end up in the same hands, eventually.

[Victoria33]

I remember reading not long ago people were leaving New York City due to high taxes.  They were moving to Florida and Texas. I expect that would be the richer people who have left/will leave if more is taken from them.

It is difficult to live now without the government taking what you have or preventing you from doing "X" which you did before "Y" laws were passed.  The reason we keep having laws written is:
Someone is elected to an office and he/she must have something to show the public why they should be elected, so he/she gets his/her name on a bill which becomes a law.  An elected politician would not be reelected if he/she did NOTHING.

[LMAO]

DeBlasio is channeling Chavez, Castro,  Ortega, and Peron

So as more money leaves New York because it becomes too expensive to live where will he get the money? It’s the same question that can be asked of California. States and cities  can’t print their own currency and they must keep their budgets in the blue. And where is he going to get the money to fund the unfunded pension obligations NYC is facing  after spending it on everything else?

Just declaring that the “money is in the wrong hands” isn’t a realistic fiscal policy. There are very few fiscal realist in not just the federal level but state and city levels as well

 The nation as a whole won’t become  another  southern Europe  as there are certain advantages the US has that southern Europe does not. But I think we will see a lot of mini Greeces on the local and state levels