Bloomberg Tries To Stop Hedge Fund Exodus Out of New York

The New York Post reports:

Mayor Bloomberg blasted Albany leaders yesterday for trying "to kill the golden goose here" by pushing a tax that would drive hedge funds out of the state -- as he quietly called key Wall Street figures to plead with them to stay.

"When people say, 'Oh, the rich, they've got more money. We can tax more of them' -- they're going to move," Bloomberg told reporters.

"You can't just keep going to taxing more. It doesn't work."

Bloomberg was reacting to The Post's disclosure yesterday that Connecticut Gov. Jodi Rell is brazenly trying to poach hedge-fund managers by inviting them to an "intimate" dinner to discuss moving to the lower-taxed Nutmeg State.

Taxes have consequences.