Even the most liberal, communist or Marxist can understand why people are departing New York, and it is called taxes. Mamdani pushed Hochul to tax wealthy residents who own a second home in the state. What a message to send from the state that is the world’s financial capital. At least for now, Texas is pulling in many and could end up as the new financial capital, which would destroy New York City. But then maybe that is what they want, then they get total government control, the end result of socialism, Marxism or Communism, all failures of the past. All IMO.
“As Mamdani and Hochul seek to fund the 34-year-old democratic socialist mayor’s spending agenda, they are facing the constant threat of wealthy taxpayers fleeing New York.
Some have indicated a willingness to relocate to Florida, Tennessee, and other states — many of which are led by Republicans — that do not have aggressive tax systems aimed at wealthy households.
Hochul has even pleaded with such residents to stay despite the high taxes, as noted in a report from Fox Business last month.
“There are some patriotic millionaires who stepped up,” she said.
Hochul asked such millionaires to bring back others who have already fled.
“If you want to be supportive — but maybe the first step should be, go down to Palm Beach and see who you can bring back home, because our tax has been eroded.”