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This is the exception that proves the rule; even with high taxes and low-tax alternatives reasonably close by, enough millionaires continue to choose NYC that i
by rattray 6y ago
This is the exception that proves the rule; even with high taxes and low-tax alternatives reasonably close by, enough millionaires continue to choose NYC that it's among the most likely places you'll find one. Same goes for California.
- refurb 6y agoI'm responding to the grandparent comment "They never left.", which is clearly not true. Saying that some still remain doesn't refute my statement.
- rattray 6y agoI think if you saw a headline claiming "The millionaires have left New York" you'd spit out your drink. Sure, some millionaires have left, but not nearly enough to call it an exodus - "the millionaires" as a class are still there; they never left. Indeed, according to Forbes, there are more billionaires living in NYC than any other city in the world: https://www.forbes.com/sites/giacomotognini/2020/04/07/worlds-richest-cities-the-top-10-cities-where-most-billionaires-call-home-2020/#661078d23101 https://www.forbes.com/sites/giacomotognini/2020/04/07/world... And according to this cnbc article, the same is true for millionaires: https://www.cnbc.com/2019/01/18/new-york-city-has-more-millionaires-than-any-other-city-in-the-world.html https://www.cnbc.com/2019/01/18/new-york-city-has-more-milli...