Most billionaires' assets/wealth of NYC are already in Trusts untouchable (and lawfully untaxable) by the politicians. This is why middle class keeps getting squeezed. Trusts cannot be forced to divulge assets because claims are typically against the Trust beneficiary. Trustee may not comply or just delay indefinitely.
"Billionaires leaving" concern is because their spending residuals creates jobs and business activity that they can just transfer directly to some other city. Spending arbitrage is a powerful weapon.
Most billionaires' assets/wealth of NYC are already in Trusts untouchable (and lawfully untaxable) by the politicians. This is why middle class keeps getting squeezed. Trusts cannot be forced to divulge assets because claims are typically against the Trust beneficiary. Trustee may not comply or just delay indefinitely.
"Billionaires leaving" concern is because their spending residuals creates jobs and business activity that they can just transfer directly to some other city. Spending arbitrage is a powerful weapon.