Open call for all billionaires. New York is hiring!

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Not only is he known to have a bad reputation with New Yorkers, but now soon to be retired Mayor Bloomberg, is calling all billionaires to relocate to the concrete jungle.

On September 20th, the incumbent mayor made controversial remarks on his radio program that were not welcomed, especially from politicians. Bloomberg is amongst the wealthiest in the city and is ranked number 13 on Forbes’s rich list with a net worth of 31 billion dollars.
Bloomberg believe that New York should be a magnet for billionaires because he assumes they can contribute to the state’s weak economy. However, there is a huge inequality gap between the middle class and the wealthy.120203_michael_bloomberg_ap_605

On his radio show, he praised billionaires because he believe they bolster New York’s economy. He said “they are the ones that pay a lot of taxes, they are the ones that spend a lot of money in the stores and restaurants and create a big chunk of our community.” He suggest that the working class aren’t the ones who contribute to New York’s economy, but it is the billionaires swimming in large sums of cash. It was an insult for those who disagreed with his remarks.

The issue that presents itself is the inequality gap between the working class and the wealthy. Regardless of the abundance in job creation, the economic crisis is stagnant. The working class is pulling their own weight, but why should they be compared to those who are ten times better-off? Unfortunately, his controversial remarks were not accepted.

“If we could get every billionaire around the world to move here, that would be God send” said Bloomberg. His ultimate goal is to attract the wealthy to the city to help the poor and boost the economy. Speaking of billionaire, Mikhail Prokhorov, is a prominent figure and owner of the Brooklyn Nets. After collecting tax revenues, is it going towards New York City to help the huge economic gap or is being pocketed by the well -fortunate? You guessed correctly, the money goes right back to the Nets.

With all the profit Prokhorov make from his team, the city does not see a dime. So is the call for billionaires to New York a smart move. Senator Charles Schumer welcomes the idea of billionaires to the city but he believes that it is not sufficient, but “ we need to make sure the tax they pay go to helping poor class and middle class people advance.” So have you decided New Yorkers, yes to billionaires or no way?

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One response »

  1. Pingback: The Controversy Over New York’s Billionaires. | NZTR

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