Rush Limbaugh on Friday’s show (May 15th) took a call that led him to an important response that places like New York that survive off of their Manhattan business district may lose [permanently] large corporations renting out the office space and paying the high cost of taxes that fund the city and are a large portion of taxes. The people that live and work in the tri-state areas that are also connected to making New York City run (BLUE COLLAR: maintenance, janitorial, tech, etc.) as well as all the business professionals (WHITE COLLAR: administrators, human resources, lawyers, etc.). Not only that, but the new laws and enforcements like these seen in this pandemic may be a cost for companies moving their offices to other states.
Here is an excellent article by the NEW YORK TIMES:
- Manhattan Faces a Reckoning if Working From Home Becomes the Norm: Even after the crisis eases, companies may let workers stay home. That would affect an entire ecosystem, from transit to restaurants to shops. Not to mention the tax base
Here are a couple other note-worthy articles:
- Manhattan New Rentals Plunge 71% as Coronavirus Freezes Market (NBC – NECN)
- Would Gov. Cuomo Rather Have No Businesses in New York Than Businesses That Employ Fewer People? His proposed law would require that corporations return bailout funds if they don’t rehire the same number of employees (REASON)
- ‘If It Saves Just One Life’: Layoffs Start to Hit Media and Suddenly They Notice the Problem (RED STATE)
- 100,000 Businesses Have Permanently Collapsed Under Pandemic Lockdowns (THE FEDERALIST)