Like everywhere else, you pay for what you get. When a place is in demand, you pay for it.
Gosh, I just learned that popularity = taxes, and that's a good thing! NOT.
Thanks for just outing yourself as a big time fiscal liberal!
What an interpretation! Every hear of price and demand? You think the taxes of the financial capital of the world should be like Anytown, USA?
I have to admit, I'm taken aback by having someone on Free Republic argue for high tax rates. I haven't had a chance to go back and see your posting history on this thread, so I'll assume that support Rudy, and I guess that makes you someone conservative on security at most, and liberal on all other items. What are you doing at FR?
Now regarding tax rates, the funny thing is that other cities worldwide are working on taking business away from NYC, and guess how their doing it - lower tax rates! (What a shock....)
For example, Charlotte, NC - an up and coming financial center for the US - has a state corporate tax rate of 6.9%, a franchise fee of 0.15 % based on corporate worth, and a local 0.06% gross receipts tax, capped at $10K. Let's estimate that at 7.5% overall, as NC's taxes are "flatter" than other states.
Compare this to NYC, which has for incorporated businesses state rate of 7.5%, and a city rate of 8.85%: a total corporate rate of 16.35%.
Or if you're smaller and unincorporated in NYC, it is state rate of 6.85% (income), city rate of 3.65% (income) and "unincorporated business tax" of 4%: a total of 14.5%.
Now to be fair, NYC has infrastructure costs it should be spending that probably go above and beyond their associated user fees. But does that need call for double the tax rate!?! (And do you really think their putting in all the maintenance that say, the water mains system needs?)
No, we all know that NYC chooses to spend a huge amount of money on social programs that go 90% wasted. And blows a lot on corruption (which is everywhere but more so in liberal bastions like NYC and Boston).
So to answer your question, YES the taxes of the financial capital of the world better get more in line with Anytown USA, or AnyLargeCity China, India, insert country here, lest it lose existing and potential business. (NYC is losing a lot of new business.) And that means whacking away at liberal entitlements and corruption - which, along with life & liberty, are the things we fight for at Free Republic.
The trash services, law enforcement (before during and after Rudy), city provided parking, Etc is far below Anytown USA. Therefore their taxes should be equal or less.