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#new New York lost $11 Billion in tax revenue from millionaires fleeing the state, while median rent jumped to $5,000 a month under Mamdani's policies of tax the rich and 'free everything' for residents#newyork Median rents in New York City have climbed to record levels, as Mamdani pushed socialist big spending promises of expanded free services and affordability fixes - but apparently socialism doesn't seem to be working. #newyorkcity Even before Mamdani took office, millionaires were fleeing New York, causing an $11 billion decrease in tax revenue in just one year, with fears now turning to Mamdani's socialist policies that critics say will chase more millionaires from the city. A new analysis from the nonpartisan Citizens Budget Commission, shows New York State lost an estimated $10.7 billion in personal income tax revenue because its share of the nation's millionaires dropped from 12.7% in 2010 to 8.7% in 2022, the largest decline of any state.High earners who make over $1 million a year represent less than 1% of tax filers but pay about 40-45% of state and city personal income taxes. Millionaires leaving the city is putting a dent in the tax base that funds everything from subways to schools to the social programs politicians love to promote.Even though politicians know that 1% millionaires pay for nearly 50% of services, they continue to push the agenda of 'tax the rich' including Mamdani, who has proven he will tax everyone when the time comes. Rent Details: 🔺️Manhattan median rent hit $5,000 per month in February for the first time in history, which is up 6% from the prior year. 🔺️It climbed even more, with reports showing $5,125 in May and peaks near $5,295.🔺️Brooklyn median rent reached a record $4,296 in February, up 7.5% year-over-year.🔺️Citywide median asking rents rose to around $3,616 in Q1 2026, up 6.2% from the prior year, with low vacancy rates driving bidding wars.🔺️Year-over-year increases hit double digits in some Manhattan segments, with inventory at multi-year lows.🔺️Experts point to the mass number of illegal migrants snatching up apartments and houses, creating a housing shortage and spiking prices. 🔺️They say the way to solve the issue is to deport the illegals. New York City has one of the highest concentrations of foreign-born residents in the nation, with 38% #ChristinaAguayoNews