Nonpartisan watchdog suggests New York would benefit from more millionaires

Nonpartisan watchdog suggests New York would benefit from more millionaires

The Citizens Budget Commission (CBC), a nonpartisan think tank, argued that millionaires are crucial to funding New York City's critical services.

With the rich ALREADY fleeing New York, who’d be left for Zohran Mamdani to tax?

Mayoral hopeful Zohran Mamdani’s plans to tax the rich just got a lot less workable: A report by a top budget watchdog shows the city’s share of “the rich” keeps shrinking.

The Hidden Cost of New York’s Shrinking Millionaire Share

New York’s share of the nation’s millionaires fell from 12.7% in 2010 to 8.7% in 2022. NYC and NYS could have received $13 billion more in tax revenue in 2022 had their shares been the same as in 2010.