3 ms·
That's a great way to chase off more of the high-wage tax base in NYC. What's wrong with the fare model?
by throwaway3699 5y ago
That's a great way to chase off more of the high-wage tax base in NYC. What's wrong with the fare model?
- nerdponx 5y agoThis is assuming that there are no fares, as suggested by GP. Also I think you are overestimating the elasticity of demand for residence in New York City with respect to tax rates, at least for people and businesses with large amounts of money. I'm not even close to what you would call a high income earner in New York City, but I would be fine with paying increased subway fares in order to subsidize bus fares in outer boroughs, paying $15 instead of $2.75 for East River ferry rides, etc. Shuffling around pocket change from people who won't even notice it's gone to people who need it desperately is not going to keep people out of New York. The biggest problem is real estate, both for the city's non-wealthy residents and for its small businesses. And even people with good incomes don't like being juiced for $4k++ in order to avoid living like a broke student with a 90 minute commute.