Black Tie International Magazine -
Select your preferred language
Celebrity Philanthropy News
Society News
Save the Date 2023
Joyce Brooks
Gerard Mc Keon
Nightlife with Rose Billings
Black Tie  TV
Dr. Ma. Xiaoqiu
DYF Entertainment
Impact Investment
Featured Foundations
Co-Hosting Events
Listing Non-Profit Events
Share this Page
Black Tie China
Black Tie France
Black Tie Israel
Black Tie Philippines
New York Society
Palm Beach Society
International Society
Hampton Society
Las Vegas Society
West Coast Society
U.S. Society
Philanthropy  Giving
Entrepreneurial & Philanthropy Awards
Event Resource Directory
Promote your Services
Event Talent Directory
Feature Your Talent
Couture Fashion
Fine Wines
 Health & Wellness
Interior Design
Investigative Services
Kids on Location
Legal Services
Luxury Yachts
Pet Services
Private Air
 Real Estate
Recommended Reading
Restaurant Reviews
Single Friendly Events
Social Announcements
Sustainable Investment
Wealth Management
Add your e-mail
of Black Tie

Black Tie Classic
George Clooney
Princess Diana
Back Issues
More Back Issues
1  2


























































































































































































































































































































































Black Tie Wealth Management  1 2

Black Tie International - Wealth Management
Mark Pappa

Mark Pappa

Mark Pappa


Mayor de Blasio
Should Tap Inequality Creators
Help Battle His War on Poverty.

New York City Mayor William de Blasio has masterfully leveraged upon the growing concern of income inequality to win the mayoral election.He has officially declared war on on the rich with an income tax increase on city residents earning more than $500,000 per year.
I am not a fan of using the term war since there are too many casualties and the scars resulting from collateral damage can last forever. There are a more equitable and socially beneficial ways for Mayor de Blasio to address income inequality that deserves serious consideration. 

The War on Poverty

President Lyndon B. Johnson began The War on Poverty 50 years ago. In real terms, itís cost taxpayers more than all US Wars combined.According to a recent report by the CATO Institute, $15 trillion has been spent to battle the war on poverty and it hasnít worked. Itís clear the Government can't win this battle alone must embrace new ideas in order reduce poverty. 

Raising Taxes Is The Wrong Weapon

Mayor de Blasio's proposed new taxes will effect 40,000 city residents and is estimated to raise $532 million over 5 years to fund early childhood education programs. Thereís nothing more politically powerful than providing less fortunate children with the hope of a quality education and the potential for upward mobility. Who would disagree?  Unfortunately, my experience in politics knows lawmakers usually include a legal back door to recharacterize those revenues to the general fund during tough budgetary times. Thereís no guarantee appropriate funding for the early childhood education program is sustainable or if the new taxes will cover the tab.The New York City economy is highly correlated to Wall St. and when Wall St. sneezes everyone else gets the flu causing revenue shortfalls. Finally, a portion of those high earning city residents will turn up AWOL and migrate elsewhere.   

Tax the Rich, itís their fault. 

I despise class war fare politics and I am a proponent of an America that understands we all have to work in unison to drive change.
There are millions of wealthy people in America who built their fortunes by working hard over many decades. Calling them greedy is both irresponsible and disappointing. Most are grateful for their success and they are eager to give back to create a better society for the next generation by setting up foundations, charitable trusts, through direct donations, or volunteerism. There is a new way to address social problems that combines free market economics with social responsibility called B-Corporations or Benefit Corporations.  

Secret Weapon-The Benefit Corporation

Legislation for New York Benefit Corporations was signed into law by Governor Cuomo in December, 2011.Benefit Corporations or B-Corps, are unique in the sense that they must use their profits for the common good to effectuate a social or environmental benefits.  Social goals are enacted within their corporate charters and the social impact is monitored and measured by management, the board of directors,and their auditors. 

Localized Marshall Plan 

De Blasio should engender the formation of Benefit Corporations by establishing social benefit enterprise zones in each borough.Benefit Corporations are vested in their community, create jobs, help distressed economies, and grow the city tax base in ways that relieve city hall
 from financial pressures.To go one step further, de Blasio could provide tax incentives for B Corporation clusters that earmark funds for early childhood education to cultivate more revenues over the long run and to help fund his plan. 

Please call a truce

In closing,No amount of government funding can create hope for the millions of underemployed or unemployed living in poverty. That idea is $15 trillion dollars in the red.Social change agents are eager to move forward but need the right incentives from local government.
When all the stakeholders including entrepreneurs, employees, the community, and parents work towards a goal, good things happen.For example, job growth within the Benefit Corporation structure is growing at an average of 5% per annum versus stagnant growth elsewhere.Benefit corporations can and should be part of the solution.Mayor de Blasio needs to be the General who leads this special force army of allied socially conscience entrepreneurs into battle against the axis of poverty and income inequality.

Mark Pappa is an account executive with Financial Resources, Inc.




To list in Wealth Management please contact:


ę  Back to wealth management




Launch of the First
Billion Dollar Charity Raffle NFT

Featured Save the Date


Featured Foundation


Peace Angel Project


 Society News

MAnhattan Motor Cars Gala
Jean Shafiroff
Children Of Hope

Pamea Anderson


Prince Albert Gala

Kilasa Mitra Award

Family Film Awards


Family Film Awards


Featured Foundations

chuck feeney
global citizen

vall to unite


Search the Site



Impact Investment

carbon geocycle

Black Tie China

ma.xiaoqiu, Dyf Entertainment
lang lang foundation

Black Tie Philippines

black tie philippines

Nightlife with Rose Billings

sara Johnson
debutante Ball
Judy Kuriansky
Gerard Mc Keon

Celebrity Philanthropy News

sera Vergera
nicole Kidnman, jennifer Aniston
jean shafiroff, paul mc cartney
princess margaret of kent
Al Pacino, American Icon Awards
clive davis
american hospital of paris foundation
french heritage society
lupus research alliance
un women for peace
ben kingsley
ceylon tea party
Blavk Tie Gala
joyce brooks
central park conservatory
UN Correspondents Association
cardinal dolan
palm beach heart ball
vienese opera ball
lady in red gala
sanford stem cell
weizmann institute
carlos slim
israel 65th anniversary

Black Tie International Realty

secret paradise resort
round island, seychelles

Event Resources Directory

event resource directory



Copyright 2006 Black Tie Magazine. All Rights Reserved .

Privacy Policy |