by Smitty
Newsalert quotes the NYT:
The wealthiest 1 percent of New York City residents took in nearly one-third of the personal income in the city in 2009 — almost double the comparable proportion nationwide, a new study shows.
In a report scheduled to be released Monday, the city comptroller’s office found that large percentages of New Yorkers earned high incomes and low incomes, leaving a smaller middle class than in the nation as a whole.
More generally, please check my logic:
- Blue states good, red states bad.
- Common people good, Wall Street bankers bad.
- Wall Street is in what city/state? — New York
- New York is a red/blue state? — Blue
- Head ‘splodes.
via Instapundit
Quelle surprise!
1%?
Considering the cost of living in NYC, even the homeless have to pass a credit check to amble about the city’s boroughs.
Occupy New York!
This just more of the stuff you flyover crackers just don’t get, that NY’ers imbibe with their wetnurse’s milk:
NY 1%ers get to keep their money and exploit the poor, because they care so much. Seriously, they have concerts for the poor, and theatre events for the poor, and holiday events for the poor… well, granted, the poor can’t afford to attend and wouldn’t be allowed through the door if they did, but there’s only so much one trust baby can do…
What percentage of that State’s and City’s income and other taxes did that 1% pay?
The correct answer must be, “Never enough.”
The fallacy is “one-third of the personal income in the city”.
Wealthy New Yorkers earn their income from business activity around the world, no just in the city.