Will NYC Go Bankrupt?
Mass unemployment, colossal bankruptcies, and a shattered tourism industry have ravaged New York City during the coronavirus pandemic. In January 2021, Governor Andrew Cuomo proposed raising taxes on the wealthy, while cutting Medicaid and school spending to balance the multi-billion dollar budget deficit.
Opponents say tax hikes could lead to a mass exodus of the wealthy New Yorkers who fund a large portion of the city’s revenue. Others say that the crisis has exasperated existing inequalities and cutting social services will only hurt those most affected.
Comments
Oh ya 3 year ago
When you have Democrats running the city or state you get what you voted for. But slow joes last 1.9 billion baolout only had 9 % of that amount for covid19 and the rest to bailout chithole states like NY, CA Illinois etc
