Banking Giant Goldman Sachs Flees New York, Relocating to Florida

In another sign that Democrats have killed New York in general and New York City in particular, banking giant Goldman Sachs is shutting down its New York headquarters and moving to Florida.

According to reports, Goldman Sachs Group Inc. is now preparing to move one of its top divisions — its asset management arm — to a new base of operations in Florida. Either Palm Beach County or Fort Lauderdale.

Per Bloomberg:

Executives have been scouting office locations in South Florida, speaking with local officials and exploring tax advantages as they consider creating a base there for its asset management arm, according to people with knowledge of the matter. The bank’s success in operating remotely during the pandemic has persuaded members of the leadership team that they can move more roles out of the New York area to save money.

take our poll - story continues below

Do you think Cubans are fighting for healthcare or freedom from Communism?

  • Do you think Cubans are fighting for healthcare or freedom from Communism?

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Great American Politics updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Goldman may yet decide against centering asset management in Florida, where it would join a growing list of firms seeking tax and lifestyle advantages. It also may opt for another destination like Dallas, where it has been accelerating its expansion, the people said.

Goldman’s is hardly the only company pulling up stakes in the destroyed city. Billionaire Paul Singer is also closing up shop and moving Elliott Management headquarters to Florida. Others including Citadel, and the Blackstone Group are also beginning the exodus of New York.

Meanwhile, New York is increasing its efforts to penalize people who move out of the state by launching a tax audit of every single resident who files a change of address form. The audits cost resident tens of thousands and New York taxers use a growing list of arcane “rules” to steal more money from those who dare to move out of the failing State of New York.

Talk radio giant Rush Limbaugh, for instance, once told his radio audience that New York City audited his taxes every year for more than a decade after he left the city in the early 2000s and it cost him tens of thousands in legal fees each time.

New York taxes its residents for stay and leaving both.

Time to get out, New Yorkers.

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.

Warner Todd Huston has been writing editorials and news since 2001 but started his writing career penning articles about U.S. history back in the early 1990s. Huston has appeared on Fox News, Fox Business Network, CNN, and several local Chicago News programs to discuss the issues of the day. Additionally, he is a regular guest on radio programs from coast to coast. Huston has also been a Breitbart News contributor since 2009. Warner works out of the Chicago area, a place he calls a "target rich environment" for political news.
[mashshare]
You Might Like

 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.