Comment by mc32
7 hours ago
People did move out of NYC and companies did move HQs out to NJ and elsewhere. NYC lost pop during the eighties and didn’t recover its population till 2000. It was an 10% decline in pop[1]. They went from 125 F500 cos based in NYC down to 61 by 1986. Maybe that’s okay with you if it were to repeat but that’s a lot of a tax base leaving for better pastures.
[1]https://en.wikipedia.org/wiki/Demographics_of_New_York_City
It's important to discuss the reasons for the population dropping in the 1980s and subsequently recovering.
It didn't experience population drops because NYC scared away the businesses and billionaires/millionaires with left-leaning policy. That population loss happened because of macroeconomic trends that were already in motion, as well as local factors that really had very little to do with who was mayor at the time.
Detroit didn't have a population collapse because of who was mayor or what the tax rate on the local businesses was.