DID YOU KNOW? Within 30 minutes of the center of New York City, there has been a 5% growth of the talent base of people under 30 and a contraction of 5% of that demographic outside of it. In 2018 there was a 21% drop in foreign immigration. New York has the country’s largest GDP at $1.7 trillion. In New York City including the surrounding metropolitan areas, there are around 20 million people. There are 41 Broadway theaters and 76 museums too. (GLOBE ST)
DID YOU KNOW? The Conference Board said its index of U.S. consumer confidence rose to 134.1 in May from 129.2 in April, close to the 18-year high it recorded last fall. (WSJ)
DID YOU KNOW? Many taxpayers in SALT-affected states delayed their payments till the last minute: New York collected $3.4 billion more in personal income tax revenue in April than in 2018, a 57% increase. California took in $19.2 billion in April, exceeding Gov. Newsom’s estimate by $4 billion. New Jersey had a record April with tax collections up 57%. Illinois individual and corporate tax revenue was $1.5 billion more than projected. April personal income tax collections in 28 states and Washington increased by $16.3 billion, or 36.2% year-over-year to $61.4 billion. 13% of house-hunters in both New York and California said they have started looking for homes in states with lower taxes. Migration rates in high tax states most affected by SALT are below pre-recession levels right now, and generally in-line with U.S trends. (Bloomberg/Bank of America).