Home Economy Taxes persuade rich people to leave New York, but locals look for...

Taxes persuade rich people to leave New York, but locals look for the silver lining: Economics


[2]

Among those who left was Christopher Wheeler, 62, an investment banker and writer who moved out of town to Westchester County in New York State. His wife had been wanting to move away for years, he said.

The pandemic and rising crime in the city convinced him. As part of his neighborhood faded, people started racing down his street at midnight. There are a lot of young people riding motorbikes, he said.

They still have an apartment on Central Park but they have no plans to renew the lease. He said the move was to “be able to sleep at night, not let the crazy guys race on 59th track”.

His wife lamented the lack of ballet and the lack of security. Now, raising taxes will make an already expensive city even more expensive.

“What Governor Cuomo and the people of Albany don’t understand is that like California, they’re pricing their own existence,” says Wheeler.

Although the tax increase will put the richest New Yorkers on the highest tax rates in the country, legislatures in California, Minnesota and the State of Washington are also looking at even higher tax increases as they seek how to restore public finance after the pandemic.

Andrea Stewart-Cousins, 70, the leader of the majority in the state senate, said: “Middle-class and working tax payers will get the relief they desperately need, while the New The richest Yorkers will help their neighbors, ”said Andrea Stewart-Cousins, 70, the leader of the majority in the state senate.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments