New York’s share of millionaires plunges under Mamdani’s socialist policies

Uncategorized

Zohran Mamdani

New York accounted for 12.7% of people earning more than $1 million annually in 2010. That figure has since dropped to 8.7%.

By Vered Weiss, World Israel News

New York’s share of America’s million-dollar earners has fallen more sharply than any other state’s since 2010, raising questions about Mayor Zohran Mamdani and the Democratic Socialists of America’s proposals to increase taxes on wealthy residents.

A Citizens Budget Committee report found that New York accounted for 12.7% of people earning more than $1 million annually in 2010. That figure has since dropped to 8.7%.

The report also found that in more recent years, New York’s highest earners have left the state at a faster rate than its lowest earners.

The trend could complicate proposals that rely on increased revenue from wealthy taxpayers.

Mamdani campaigned on raising taxes on millionaires by 2%, while the New York City DSA chapter has called for higher taxes on people earning more than $300,000 annually, as well as increased taxes on capital gains and inheritances.

New York already ranks second nationally in the percentage of income collected through taxes, while New York City has the country’s highest tax rates on wealthy residents.

Research cited in connection with the debate has found that tax changes can affect where high earners and other highly paid workers live.

Economists Joshua Rauh and Ryan Shyu found that a California income tax increase caused nearly 1% of top taxable income to leave the state in one year.

The resulting loss of taxpayers and other changes among wealthy residents erased most of the revenue the tax increase otherwise would have generated.

A separate study by Enrico Moretti and Daniel Wilson examined the movement of leading scientists. Their research found that a 1% rise in after-tax income attracted nearly 2% more top scientists to a state, while higher taxes pushed workers in the opposite direction.

New York lost more than $7 billion in annual taxpayer income to Fairfield County, Connecticut, between 2019 and 2023.

The state also lost more than $7 billion to Palm Beach County, Florida.

Seattle Mayor Katie Wilson has dismissed similar concerns over wealthy residents leaving following tax increases.

“The ones that leave? Like, bye,” Wilson said.

The New York figures present a financial challenge for policies dependent on raising additional revenue from a shrinking share of the nation’s highest earners.

The post New York’s share of millionaires plunges under Mamdani’s socialist policies appeared first on World Israel News.

IN the summer of 2019, I was seated in the wine cellar of a walled Medieval town high above the Dordogne Valley of France, not far from Sarlat-la-Canéda, making phone calls, writing reports. I have given this story in other places and it appears as though you’re about to hear it again. Rob Skiba is a name you that you might be familiar with. Though he had made a name for himself as a Nephilim researcher, more recently Rob had taken a dive into the deep end of the pool via flat earth research. The recorded interviews I conducted between he and Rick Hummer, a fellow flat earth investigator and close friend of his, was published while still occupying that very wine cellar. Read all about it. Chicago Is Not a Mirage.

Word quickly spread. Within a few short weeks, dozens of flat earth researchers began accepting my invite for a private interview, if not a series of interviews. From a 17th-century tower built by King Louis XIV, and with a stunning view of the Alps, I sat down with Robbie Davidson, founder of the Flat Earth International Conferences, conducting multiple sessions. While staying in Dumfries, Scotland, David Weiss agreed to take part in the interviews, as did Bob Knodel of Globebusters. There were others. But when I asked the interviewees to discuss the moments that shaped their lives, among the many PSYOPs, false flag attacks, and hoaxes that were discussed, only these men committed commentary to the false 9/11 narrative.

The resulting recordings ballooned into The Unexpected Cosmology, a book which became a website and was even intended as an anthology. And of course, the following discourse was originally a chapter. It was Walt Disney who stated, “Disneyland will never be completed. It will continue to grow as long as there is imagination left in the world.” Those sentiments remain applicable here as well. American Sensationalism: The 9/11 Interviews was always intended to be expanded upon with the inclusion of new researchers. So I’m sorry to say the project became stagnant during the Covid-19 psychodrama. I took a break to tackle other projects. We lost Rob Skiba. Rob offered hours of private conversation regarding his life but we never got around to the big one. 9/11. It was in the cards. Sadly, Bob Knodel died soon afterwards. Voices are being squeezed from an entire generation. Gnosis passes with them.

In the aftermath, the FE community became fractured. People began going their separate ways. Robbie Davidson, among a noted few others who were interviewed for the project, got up and left the movement altogether. It is not my intent to erase his or the contributions of others if only brief. They came, they went, their testimonies remain.

The original vision may have hit roadblocks but it is not forgotten. I expanded this paper a few years later to include testimony from author Pauly Hart, a dear friend of mine. I had wanted to continue that trend every year thereafter but you know how it goes. For the 25th anniversary of the attack I have redirected my efforts to its first large scale expansion, including Andrew Hoy and Darrin Geisinger into the mix. Perhaps others will lend their experiences to the recorder in time.

The following is their report.

Watch the Interviews