Despite threats from the wealthy elite, new IRS data proves that higher taxes on the rich do not drive them away from New York City. The myth of tax flight is debunked.
Poking a giant hole in the persistent theory that wealthy people won’t want to live in states that require more from them in taxes, the number of New Yorkers reporting more than $1 million in income grew by about 3% after the tax rate was raised, the SOI data shows.
30·12 days ago