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Economy

“Super rich New Yorkers — including billionaire Carl Icahn — are fleeing the Big Apple in droves. Here are the top 3 states they’re quickly escaping to”

“…Between 2019 and 2020, the number of New Yorkers earning between $150,000 and $750,000 fell by nearly 6%, according to the New York City Independent Budget Office….

Moreover, the number of real high earners — those making over $750,000 — dropped by nearly 10% during the same period…

For perspective, the 41,000 filers in the city’s top 1% pay more than 40% of all its income taxes. The 450,000 filers in the top 10% pay about two-thirds of all income taxes. In other words, the remaining 90% of taxpayers contribute about one-third of the city’s income tax revenue.

In its most recent report, financial technology company SmartAsset found that in 2020, New York had a net outflow of almost 20,000 high-earning households — defined as households earning over $200,000. That was more than any state in the study…”

https://finance.yahoo.com/news/super-rich-yorkers-including-billionaire-143000107.html

I know where they are moving. They are moving to states with lower taxes. Also many of the big cities are dangerous and or falling apart. No one wants to be there.

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