New York City in the world at 103, including former Mayor Michael Bloomberg. New York also had the highest density of millionaires per capita among major U.S. cities in 2014, at 4.6% of residents. New York City is one of the relatively few American cities levying an income tax (currently about 3%) on its residents. New York is a global hub of business and commerce. The city is a major center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media, traditional media, advertising, legal services, accountancy, insurance, theater, fashion, and the arts in the United States; while Silicon Alley,
Concentration of media ownership Council in 2007, the issue of media concentration was discussed, but it did not represented the core of the debate. In 2003, the European Commission issued a policy document named "The future of European Regulatory Audiovisual Policy" which stressed that, in order to ensure media pluralism, measures should aim at limiting the level of media concentration by establishing "maximum holdings in media companies and prevent[ing] cumulative control or participation in several media companies at the same time". In 2007, reacting to concerns on media concentration and its repercussion on pluralism and freedom of expression in the EU member states raised