The utopian cities of Progressive Urban Socialists (aka Democrats) are literally dissolving before our eyes.
There is an ongoing exodus from Democrat cities to 'Red' states and cities which offer lower taxes, better services and safety.
Of course the population loss is not balanced. In general, the poor cannot afford to relocate. The cities are losing productive middle-class people and retirees.... and they are taking their income, savings and future spending with them. This creates a vicious cycle... loss of economic activity, loss of jobs, loss of restaurants, shops, culture and other amenities that made the cities desirable.
New York City
New York City (with a population of 8.3 million) lost about 468,000 residents (5.3%) in the roughly two year period from April 2020 to July 2022. AND, the exodus continues in 2023.
If this trend continues, NYC will lose at least three congressional seats by the 2030 census.
The IRS estimates a loss of $19.5 BILLION in wealth and future economic activity.
www.msn.com/en-us/health/other/new-york-city-has-lost-nearly-half-a-million-residents-since-start-of-covid-pandemic/ar-AA1bofE4
San Francisco
Wow, SF actually had a bigger percentage loss than NYC. It lost 7.5% of its population and the deterioration is getting worse. Commercial real estate in the city is plunging in value due to extreme vacancy.
Last week, an office building in the financial district sold for approximately $67 Million... a $180 Million loss from the original asking price of $250M. The building has been 75% vacant due to the exodus of people/jobs from the city.
Of course there is a ripple effect. The plunge in office workers has led restaurants, stores and other small business to lay off or shut down.
therealdeal.com/sanfrancisco/2023/05/09/sks-buys-350-california-street-in-san-francisco-paying-60m-to-68m/
Chicago
I have saved the very best for last. Sweet Home Chicago.
So many people and businesses have left Illinois that April 2023 income tax collections were $1.8 Billion lower than last year! They expect to make up part of this by increasing corporate taxes but still expect that the revenue in 2023 will be $802 Million less than last year. YIKES!
There is an ongoing exodus from Democrat cities to 'Red' states and cities which offer lower taxes, better services and safety.
Of course the population loss is not balanced. In general, the poor cannot afford to relocate. The cities are losing productive middle-class people and retirees.... and they are taking their income, savings and future spending with them. This creates a vicious cycle... loss of economic activity, loss of jobs, loss of restaurants, shops, culture and other amenities that made the cities desirable.
New York City
New York City (with a population of 8.3 million) lost about 468,000 residents (5.3%) in the roughly two year period from April 2020 to July 2022. AND, the exodus continues in 2023.
If this trend continues, NYC will lose at least three congressional seats by the 2030 census.
The IRS estimates a loss of $19.5 BILLION in wealth and future economic activity.
www.msn.com/en-us/health/other/new-york-city-has-lost-nearly-half-a-million-residents-since-start-of-covid-pandemic/ar-AA1bofE4
San Francisco
Wow, SF actually had a bigger percentage loss than NYC. It lost 7.5% of its population and the deterioration is getting worse. Commercial real estate in the city is plunging in value due to extreme vacancy.
Last week, an office building in the financial district sold for approximately $67 Million... a $180 Million loss from the original asking price of $250M. The building has been 75% vacant due to the exodus of people/jobs from the city.
Of course there is a ripple effect. The plunge in office workers has led restaurants, stores and other small business to lay off or shut down.
therealdeal.com/sanfrancisco/2023/05/09/sks-buys-350-california-street-in-san-francisco-paying-60m-to-68m/
Chicago
I have saved the very best for last. Sweet Home Chicago.
So many people and businesses have left Illinois that April 2023 income tax collections were $1.8 Billion lower than last year! They expect to make up part of this by increasing corporate taxes but still expect that the revenue in 2023 will be $802 Million less than last year. YIKES!
The City of Chicago is in even worse shape than the state overall. An utterly insane budget plan has been proposed by Saqib Bhatti, a member of Mayor Johnson’s transition team. The title of the proposal is disturbing “First We Get The Money”.
This is the kind of racist non-sense I have come to expect from Democrats. Please, don't take my word for it... read the 10-page report for yourself.
Here is a brief summary of a few of the 'high' points:
- $12 Billion in new taxes
- Reducing the ‘bloated’ police budget. “Chicago must stop criminalizing Black and Brown youth”
- Eliminating the Shotspotter project that helps locate shooters in shit (I mean inequitable) neighborhoods.
- Create a Chicago Public Bank to fund Chicago bureaucracies.
- BEST OF ALL, place all the pension funds under ‘equitable’ management. It will save BILLIONS. This is where the real magic happens.
- The new Chicago Public Bank would take over the pension funds so they could be "invested" in Chicago bonds which will grow EXPONENTIALLY.
Let me make this perfectly clear. They will create a "Bank" that has no money. That Bank will loot the various Chicago pension funds and invest those funds in Social Justice projects that have no return. Theft by any other name is still theft.
acrecampaigns.org/press-release/johnson-allies-push-12-billion-new-tax-package-including-wealth-and-income-taxes/
The very, VERY best part of this scam is that the Chicago pensions funds are actually broke. The City has been short-changing the pension funds for years and the City now owes over $33 Billion to the funds.
I feel a great disturbance coming to The Force.
The sound of 2.6 million toilets all flushing at once.
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