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Episode 9 (Insurance)- NFME Webinar Series "Tailoring a New Reality- Employer's Dialogue"

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    Mayor Bill de Blasio will furlough himself and up to 500 of his own mayoral staff for a week in a symbolic gesture that will save New York City $860,000
    as it faces a budget deficit of $4.2 billion.  

    The mayor's plan will put 495 City Hall staffers - including
    his wife Chirlaine McCray -  out of work for a week at some point between October and March
    2021.  De Blasio has said that he will continue
    working without pay during his own furlough.


    The decision to put his staff out of a job for a week
    comes after de Blasio threatened to cut up to 22,000 city employees by
    next month. He said the furloughs may serve as a 'useful symbol' if the union cannot agree on cost-cutting measures by then.

    The pandemic has cost New York City $9 billion in revenue and forced a $7 billion cut to the
    city's annual budget. It also needs to plug a $4.2 billion deficit in next
    year's budget. The city has also asked the federal government
    for aid, but so far none appears to be coming. 

    Rich New Yorkers have been leaving the city in droves amid the pandemic and escalating violent crime.
    Between March 1 and May 1, more than 420,000 fled, many of whom resided in the city's richest neighborhoods, including SoHo, and the Upper East Side.


    New York Gov. Andrew Cuomo has begged them to return, and also threatened to raise the tax on the wealthy to plug the hole in the city's budget deficit.






    New York City Mayor Bill de Blasio announced on Wednesday that he and his entire staff will
    take a one-week unpaid furlough







    'It was not a decision I made lightly,' de Blasio said. 

    'To have to do this is painful for them and their families,
    but it is the right thing to do at this moment in history.'

    De Blasio's announcement to furlough himself was welcomed by his critics on social media, with many
    blaming him for the rising crime rate in the city.


    'Prob the best thing he's ever done for NYC,' tweeted one Twitter user.



    'It's about time,' remarked another social media user.


    Another Twitter user commented: 'Make it permanent!' 




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    De Blasio's announcement was welcomed by the mayor's
    critics on social media. 'Prob the best thing he's ever done for NYC,' tweeted one Twitter
    user





    Another Twitter user wrote: 'Whoa slow down @NYCMayor - a full one week furlough?
    You're doing to much #saidnooneever #whatajoke.'





    'De Blasio won't work during furlough. Will anyone notice?' Alice Stewart
    tweeted





    'This is a very smart move, Bill de Blasio is not an essential worker,' tweeted one Twitter
    user





    'Here's an even better idea: furlough de Blasio permanently,' tweeted Nan Hayworth 





    John Harding Sweeney tweeted: 'Can we make this furlough permanent???'





    'Make it permanent!' tweeted a Twitter user who goes by the name 'Grandpa Arson'





    In response to de Blasio's announcement, another Twitter user commented:
    'It's about time'





    A Twitter user, Josh Perry, said that de Blasio's furlough means
    that 'NYC will improve'





    Another Twitter user remarked: 'You should furlough the rest of your time in office!
    YOU RUINED THE CITY!'

    'De Blasio won't work during furlough. Will anyone notice?' Alice Stewart tweeted.


    Another Twitter user commented: 'NYC will improve.' 

    Nan Hayworth tweeted: 'Here's an even better idea: furlough de Blasio
    permanently.' 

    Another Twitter user remarked: 'You should furlough the rest of your time
    in office! YOU RUINED THE CITY!'

    Another Twitter user wrote: 'Whoa slow down @NYCMayor -
    a full one week furlough? You're doing to much #saidnooneever #whatajoke.'

    Greg Meyer tweeted: 'This is a very smart move, Bill de Blasio is not an essential worker.' 

    John Harding Sweeney tweeted: 'Can we make this furlough permanent???' 

    De Blasio has been vocal about raising taxes for the rich over the last few months to ease the city's woes.   

    Just two weeks ago, on an appearance on The Brian Lehrer Show, de Blasio said: 'Help me tax the wealthy.
    Help me redistribute wealth. Help me build affordable housing in white communities if you want desegregation,' in response to a question about integrating public schools.






    The city has also seen a disturbing rise in violent crime.
    The image above shows a man mugging an older
    woman inside a Manhattan apartment building last month











    Surveillance video taken from the elevator of an apartment
    building near 1st Avenue and East 3rd Street last month shows a young man getting into an elevator with a young woman. The man is seen holding what appears
    to be a screwdriver. He then takes the woman's money





    Governor Andrew Cuomo has blamed police themselves for the rising crime, saying they have done
    'very little' to come up with reform plans. Police are seen responding to a shooting in NYC last month





    New York City police officers investigate the scene of a shooting in the Bedford-Stuyvesant neighborhood of Brooklyn in July.
    Shootings in July were up 177 percent 











    In August, an innocent bystander was shot in broad daylight in Brooklyn while he walked with his wife to buy toothpaste
    from a nearby store. Doctors fear he will never walk again after the bullet struck his
    spine

    And on Monday, de Blasio told owners of local sports stadiums, such as Madison Square Garden and Yankee Stadium, to pay more taxes to help aid the
    city's bounce-back.

    'Let's be clear - sports franchises have gained
    incredible value over the years,' de Blasio said during a press
    briefing. 

    'They clearly have the resources. I think the history in this city and pretty much all over the
    country was stadium deals were not good deals for the
    public, by and large. Some of the more recent ones have been better,
    but mostly they haven't been that good.

    'Everything should be reevaluated especially at a point when the city is going to need resources for our recovery.'

    Other top city officials have also started urging the wealthy to pay higher taxes.


    Comptroller Scott Stringer said the city's wealthiest residents should be prepared to 'step up
    and help' close the Big Apple's gaping deficit by paying higher taxes.


    Stringer's warning today echoes a similar caution issued by state Governor Andrew
    Cuomo last week, who said without additional funding from Washington, DC, he
    will be left with no choice to raise taxes to save the city from economic
    ruin.  

    Stringer also dismissed concerns that raising taxes for those in the highest
    percentile would likely drive them out of New York for good.


    He said that people have fled many times over the years during various crises but inevitably return.

    'There will be some that leave,' he said. 'Why would you risk your life going to Texas or Florida
    or any place where you have governors who just ignore health and safety laws?

    You've got to be nuts to go there.'

    Cuomo had long been reluctant to the idea of raising taxes
    on the wealthy. 




    New York City's wealthiest residents should be prepared to 'step
    up and help' close the Big Apple's gaping $4.2 billion deficit by paying higher taxes, Comptroller Scott Stringer
    said Tuesday





    New York City already holds the unfavorable distinction of being first in the
    nation for the highest combined burden of state and local income taxes, at a total rate of 12.7 percent





    A woman wearing a protective mask takes a photo of a lion sculpture wearing a protective mask
    at the New York Public Library's Stephen A. Schwarzman Building on Monday

    In August he begged the rich to return to NYC and save the city from economic
    ruin. 

    He also warned against tax hikes, saying it would likely lead
    the wealthy to permanently relocate elsewhere.

    However, late last week he appeared to changed his tune.


    Cuomo said that if Washington fails to provide additional crisis funding
    to offset losses incurred by the coronavirus pandemic, he will
    have no choice but to increase the burden on New York's already heavily
    taxed residents.

    'This will be a hole in the financial plan so large that it will be impossible to fill,' Cuomo said Thursday of the mounting debt. 

    'What would we do to try to fill it? Taxes, cuts, borrowing, early retirements [of government workers].
    All of the above.'

    According to the governor, that scenario will not play out until others have been exhausted.



    The ideal scenario would be for the federal government to provide relief,
    Cuomo said, before adding that 'Washington is doing absolutely nothing.'

    The second-best option would be for the US government to increase
    taxes nationwide, so that New York is not put at a competitive disadvantage when compared
    to other states and cities, the Democratic governor
    added.

    New York City already holds the unfavorable distinction of being first in the
    nation for the highest combined burden of state and local income taxes, at a
    total rate of 12.7 percent, according to Tax Foundation.

    That works out to be an average annual hit of $2,877, the
    foundation said.

    And only last month, the American Legislative Exchange Council ranked New York State's economic outlook as the worst in the country for the seventh year in a row,
    mainly on account of its burdensome taxes.




    Governor Andrew Cuomo issued a desperate plea urging the richest residents to return to
    the city to help save it from economic ruin





    Cuomo's new threats to raise taxes comes as a stark reversal on his previous warning that such a motion would put New York at a competitive disadvantage without states
    and lead to an exodus among high earners





    The governor has projected a deficit of $30 billion in the state over the next two years, due to the deadly impact of
    COVID-19







    Cuomo's new threats to raise taxes comes as a stark reversal on his previous
    warning that such a motion would put New York at a competitive disadvantage with other
    states and lead to an exodus among high earners.

    New Yorkers have been leaving the city in droves since the pandemic began. Between March 1 and
    May 1, more than 420,000 fled, many of whom resided in the city's
    richest neighborhoods, including SoHo, and the Upper East
    Side.

    By the end of June more than 16,000 New Yorkers had permanently changed their
    address from NYC to a Connecticut address. 

    In the months since, others have fled to Vermont, Idaho and Ohio in abundance in search
    of pastures new.

    The moves away were driven, in part, by an increased fear of living in densely populated cities
    amid the pandemic.

    But in addition to grappling COVID-19, New York City in particular
    has also struggled with escalating crime and homelessness in recent months, with encampments taking over
    affluent areas of the city, including Chelsea and the West Village.


    The city's up-scale Upper West Side neighborhood experienced an exodus of its own across August, with dozens of moving
    trucks seen lining residential streets and long-lines forming
    outside of U-Haul stations.

    The exit came in response to a surge in crime, random
    violence, drug use, public urination and open prostitution following City Council's decision to move
    thousands of homeless people into boutique hotels in the area to try
    and stop the virus spreading.




    In addition to grappling COVID-19, New York City in particular has also struggled with
    escalating crime and homelessness in recent months





    Homeless encampments have been seen cropping up across the city, often in affluent areas (Pictured: homeless encampment can be seen along West 38th Street between 9th and
    10th Avenue in Manhattan)





    A group of presumably homeless people pass around a bottle of alcohol out
    in the open at the corner of W79th Street and Broadway in the Upper
    West Side earlier this month





    A homeless man sleeps on a chair at the corner of W80th Street and Broadway in the Upper West Side earlier this month

    Following a public outcry, and threats of legal action, the city has since
    placed the scheme on hold.

    The city's Midtown region has also been left virtually deserted since
    the beginning of the coronavirus outbreak, as companies have shifted to work from home models.



    So far, less than 10 percent of NYC's office employees have returned to public workspaces, posing yet another threat to the city's financial health - as office buildings account for almost 10 per cent of total
    annual revenue. 

    The loss in revenue, officials have warned, would cause a ruinous fallout.


    Amid the unrest, Cuomo has projected a statewide deficit of $30 billion in the over the next two years, due to the deadly impact of COVID-19.  


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