I assume their vig is at least 1% if not higher too so that’s at least 20 billion in management fees. If I recall correctly NYC has a 1% income tax so the City

I assume their vig is at least 1% if not higher too so that’s at least 20 billion in management fees. If I recall correctly NYC has a 1% income tax so the City alone is missing out on 200 million a year in tax revenue. Edit: thanks for the correction