NYC has the most millionaires of any large metro — but how long will it last?

0



Proving that the Big Apple still has plenty of juice, a report finds that it holds more millionaires than any other large metro area in the word.

Indeed, New York City’s count of millionaires is up 48% from just a decade ago.

The data, compiled by Henley & Partners, show that nearly 350,000 New Yorkers — one in every 24 — have at least a seven-figure liquid net worth.

If you can make it here, you can make it anywhere — and more people are “making it” in New York City than anywhere else.

And Gotham is a great place to be a millionaire: Time Out ranked it the world’s No. 1 city for 2024 because of the vibrant nightlife, wealth of cultural institutions and world-class food. (Just try getting a restaurant reservation these days).

Despite lefty lawmakers’ best efforts to bruise the Big Apple with pro-crime, anti-business policies, it still shines.

That’s the good news; the not-so-good news: The city’s place as top dog is under siege as progressive politicians push to squeeze the wealthy in order to fund lawmakers’ spend, spend, spend habits.

The latest state budget contained another $4 billion in spending while keeping “emergency” COVID tax hikes in place.

And though New York already has the nation’s highest tax burden, progressives keep pushing for more: The state Senate and the Assembly wanted an eye-watering $2.2 billion in tax hikes, which included nailing top earners (those earning more than $5 million per year) with another half a percentage point.

They failed this time, but sticking it to the city’s wealthy remains a top lefty priority.

After all, how dare the rich make so much (while creating jobs, paying the most taxes and boosting the economy)?

If progs don’t back off their war on success, the siren song of lower-tax, actually business-friendly states like Florida will keep drawing away the city’s high earners.

New York City’s appeal speaks for itself. The only thing that can drag it down are New York lawmakers.



Source link

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *