Forum Post: We're winning! Goldman Sachs fleeing New York!
Posted 12 years ago on March 2, 2012, 11:18 a.m. EST by incomeforall
(64)
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Goldman Sachs, poster boys for the financial meltdown is shrinking it's NY offices and expanding their Utah operation by 300 people! That's hundreds of obscenely well paid 1%ers we won't have to deal with anymore! Let them pay the ridiculously low Utah taxes, we don't need those filthy millions in revenue in NY!
We can plant gardens and graze goats where their buildings made of cash used to stand! I guess we showed them!!!
http://blogs.the-american-interest.com/wrm/2012/03/01/bankers-to-occupy-salt-lake-city/
It's true New York will be out some tax money. It will serve as a wake-up call for Cuomo that new revenues are necessary. A tax increase on the wealthiest will be inevitable.
Anybody know if the Utah Chapter of OWS has any plans to welcome its new bankers?
It'll be interesting to see which way the Mormons jump - social justice or unconstrained greed (if Romney's typical, & Las Vegas is precedential, they'll choose greed).
I doubt that, but it would be something to see a Mormon-themed Vegas in Utah, complete with holy underwear slots. And you can't get a rum and coke at the casino because of the caffeine (LoL).
the banks should suffer for their bad business decisions. this is the way it should be handled let them go out of business if they are crappy businessmen and women. your solution is to tax the rich more to make up for the loss? More businesses will leave with higher taxes. NY is the highest taxed state already.
They can live without one less mansion, or one less diamond studded "luxury" watch. I'm not going to cry over some rich guy living a slightly-less-ridiculous life than everyone else just because they have to pay Uncle Sam a bit more.
"Boo hoo hoo... Now I can only take 3 weeks off to play golf instead of 4? Oh, the horror!"
They'll still take the 4 weeks off. They'll just settle for the $500 wine vs. the $1500 bottle.
i know its useless to argue this with you or other occupy true believers. but the rich, they will just leave new york, that's what you all don't understand. they will leave along with their business's . the rich 1% already pay almost half of the taxes in the U.S. Look at the UK model with their high taxes, the UK has been on the decline for decades now, why do you think George Harrison wrote Taxman?
They would be foolish to leave NYC. It is one of the greatest cities in the world. Or course there is going to be a high price to pay to live in one of the best places in the world. If they don't like it, they can leave. I don't care. They don't do anything for me.
Why don't you move to Sierra Leone, where there is no tax man and no regulations. Wait, that's because the tax man is dead? And why are these 8 year olds with AK-47s looking at my Bentley like that...?
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Well maybe if enough of the corrupt rich leave town. The rents will drop, and it will be easier for good people to have affordable housing. Or is this just a sign that they are starting to relocate now to avoid the rush when the water rises?
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I agree completely.
This industry, the financial, is about to take a huge hit. This last year, pay and bonus have been dramatically reduced by the companies. Around the world, this industry is being hit hard by regulation.
Now NYC will have to create "real" jobs that actually produce something. After the end fall of the US Republic and the creation of a worker society, real manufacturing will come back.
This is great news. Now if we can just shut down the Dow Jones, Utah can have them as well.
The problem is not only the revenue loss, but the jobs loss as well. Every one Wall Street asshole creates four support jobs in the city. If this is a trend, it could be a bad one.
However, I don't think it is the beginning of anything major. The infrastructure for finance is still mostly in New York (and to some extent Chicago.) The concentration of capitalists who meet with each other is still here. They are not likely to disperse. Unless one is talking about cold calling telephone sales or remote data entry, the Big Boys will likely stay put.
Goldman first opened a Utah office in 2000, but has been expanding there rapidly since entering a tax break deal with the state in 2009.
That has nothing to do with OWS. That is a very nice try though.
Beginning of the exodus. It will be so much better when they all leave.
They can run but they can not hide.
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They CAN hide because they DO run... our country