Work from home could cripple cities
-
The likes of NYC and Philadelphia will figure it out, then Cincinnati and Cleveland can copy the solution.
If a federal bail out is involved, such a bail out should continue to have restrictions about not using federal funds to finance tax cuts. This tax payer says so.
-
The likes of NYC and Philadelphia will figure it out, then Cincinnati and Cleveland can copy the solution.
If a federal bail out is involved, such a bail out should continue to have restrictions about not using federal funds to finance tax cuts. This tax payer says so.
Yup. The economic misery was known and knowable last March. If this is a surprise it is shocking.
In the 1980’s several cities were very unattractive to move to. At that time lowering taxes was the key. Incentives will be the long term answer.
I have a friend who lives in SF. He bought a place in Florida and spends 50% +1 in Florida and more than paid for it in tax savings. Think about that. Has both places.
-
Cities that were planned and constructed with the intention of creating the kind of place people want to be will do just fine.
Cities that were planned and constructed out of pre-fab shitbox buildings and massive-ass glass cube eyesores are going to have a hard time justifying their existence.
-
If the WFH workers are living in cities that collect income tax, they'll just be paying to a different city, their home city, for using more services. The cities losing the workers' income tax funding are usually the same ones that have a strong commercial/industrial tax base, too, which already gives them a substantial funding advantage relative to smaller cities. They'll be providing less services, and their costs will be going down to reflect that. They need to figure out who is still using the services and infrastructure, how much the actual costs will be going forward, and create new budgets and tax strucutres that will be sustainable. It's called change, and everyone has to figure out the new normal.
-
Cities will survive. There will always be a group of people that enjoys the things that cities can do, and always a group of people that enjoy the things a rural place can do.
Some people like to be able to walk out their door and have 10 restaurants available without having to drive.
Other people like being by themself on a few hectares of a land
