Asian Spectator

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New York’s wealthy warn of a tax exodus after Mamdani’s win – but the data says otherwise

  • Written by Cristobal Young, Associate Professor of Sociology, Cornell University
New York’s wealthy warn of a tax exodus after Mamdani’s win – but the data says otherwiseWealthy New Yorkers have threatened to leave the city if Mayor-elect Zohran Mamdani follows through on his promise to raise taxes on the rich.Charly Triballeau/AFP via Getty Images

New York’s mayor-elect, Zohran Mamdani, campaigned on a promise to raise the city’s income tax on its richest residents from 3.9% to 5.9%. Combined with the...

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