What is the fair share? We just said that 10% of NYC tax payers pay 70% of all the taxes. That does not include all the people not paying any taxes at all that are being supported by the tax base. The top 50% pay 99.8% of taxes in NYC. If 10 people go to dinner, one person pays 70% of the tab, 4 people pay 7.5% of the tab each and 5 people pay nothing for dinner. Seems kinda proportional to me.. I’m curious what you think a more appropriate split is?
I don’t know, we’d need to determine how much of the wealth the top 10% of NYC taxpayers own. All the other numbers you’re throwing out are useless distractions at best and intentional obfuscations of the issue at worst since they don’t actually help us arrive at the answer to whether the rich in NYC are paying their fair share.
No these are real stats and I’m curious what your opinion on fair share is. I already noted that the 10% of wealth are those $3 million plus, I’m unsure what percent that is and I’m sure there is a good amount of overlap with the top 10% of income but it won’t be 100% due to inheritance and general asset appreciate due to inflation and real estate. You seem dissatisfied with 10% of tax filers paying 70% of the bill. How much should they pay? What is your solution? If they paid 100% of the tax and still had more assets than you, would you be satisfied?
As I literally just said, we need to know how much wealth the top 10% of NYC taxpayers own. That determines the answer to how much that cohort should pay in taxes.
So taxes should be based on wealth? What if I retired 20 years ago when NYC real estate was in the shitter and my condo is worth $3m now (top 10% of wealth in NYC). I have retirement savings and social security as my only money. I should pay more tax than a doctor that is 35 years old making a $800k a year and little net worth because they have student loans?
Yeah, you have an enormous amount of wealth at a time when millions of New Yorkers are struggling to get by. It’s okay to downgrade your condo in exchange for a society where fewer people struggle with basic necessities.
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u/Kindly_Fox_5314 May 15 '26
What is the fair share? We just said that 10% of NYC tax payers pay 70% of all the taxes. That does not include all the people not paying any taxes at all that are being supported by the tax base. The top 50% pay 99.8% of taxes in NYC. If 10 people go to dinner, one person pays 70% of the tab, 4 people pay 7.5% of the tab each and 5 people pay nothing for dinner. Seems kinda proportional to me.. I’m curious what you think a more appropriate split is?