Roger
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Christina Aguayo News
#new Two years after Kathy Hochul told Republicans to. 'jump on a bus & go to Florida," the Democrat is begging those taxpayers to come back so they can fund New York's social programs
#newyork
"I need people who are high net worth to support the generous social programs that we want to have in our state right now."
"Cut me the checks.The first step should be to go down to Palm Beach and see who you can bring back home, because our tax base has been eroded."
Gov. Hochul is pleading for high-income people who left New York, to come back and pay the ever rising taxes, to help boost the state's shrinking tax revenue.
#florida
Hochul and Mayor Zohran Mamdani need that tax revenue to help pay for their ballooning social programs that critics say are riddled with fraud and abuse.
However, New York's affluent residents continue to relocate to states with lower tax rates, and no income tax states like Florida and Texas.
#taxes
And with Mamdani's recent proposal to drop the exemption on the death tax from $7.35 million to $750,000 while raising the tax rate from 16% to 50% - financial advisors are telling their clients to move to another state.
Hochul saying there are "some patriotic millionaires who've stepped up and cut me checks"
Meanwhile, Mamdani is pushing Hochul to raise taxes on the wealthy - and proposing a 9.5% property tax across the board if Hochul doesn't raise taxes on the rich.
Hochul's earlier rhetoric, during her 2022 reelection campaign was the complete opposite when she told Republicans and critics of state policies to leave, saying President Trump, Rep. Lee Zeldin, and others weren't welcome,
"Trump and Zeldin and Molinaro – just jump on a bus and head down to Florida where you belong. OK? Get out of town. Because you don’t represent our values."
Recent data shows that over a five-year period, 🔺️more than 125,000 New Yorkers moved to Florida, taking nearly $14 billion in annual income with them.
🔺️IRS migration data shows New York has lost a net $111 billion in adjusted gross income from people moving out of the state , while Florida has gained $196 billion.
🔺️The exodus has eroded New York's tax base at a time when the state relies heavily on high earners—often the top 1% pay 44.6% of the taxes - equaling $32 billion.
#ChristinaAguayoNews
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