Jacobin
Jacobin
@jacobinmag·152K subscribers·1.3K videos

Rich people won't leave New York City just because they're taxed fairly

Posted

February 28, 2026

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YouTube Description

as posted by the channel

Worries about an exodus of millionaires out of New York City are not supported by economics.

Even factoring in potential millionaire migration, our new forecast shows that Mayor Zohran Mamdani’s proposed tax hike on the rich would still generate 3.95 billion in new tax revenue.

Guests & Subjects Covered

New York CityMayor Zohran Mamdanis

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Rich people won't leave New York City just because they're taxed fairly · Jacobin · Sentinel