QuoteBelow is my column in the New York Post on the sharp decline in millionaires in New York, costing the state billions as many flee. The exodus has been building for years but may now be accelerating. As Mayor Mamdani holds another press conference promising to end the "violence of evictions," (https://www.yahoo.com/news/politics/articles/mamdani-ripped-over-freak-show-193907694.html) businesses are reading the writing on the wall. Rather than work to make the state more attractive to wealthy residents and businesses, Democrats are seeking to diminish the appeal of two-tax states. They want to tap into a long-barred area of taxation: the wealth rather than just the income of citizens. By passing a national wealth tax, Democrats will reduce the benefit of fleeing high-tax states like California and New York.
Link: https://www.zerohedge.com/political/start-spreadin-news-new-york-losing-billions-millionaires-flee-big-apple