Subject: Re: America's economic anxiety
He contended that the new real estate tax laws would drive valuable big spenders out of the City.

I agree with your overall evaluation. The easiest opinion/analysis I have read said simply” if you tax their income, they can move. If you tax their property, the property can’t move. They can sell it, but so what? If they’re not living there anyway, what have you lost but a few sales of baubles and Dom Perignon.