Conservatives warned of a mass exodus if the democratic socialist won, but experts, and property data, paint a very different picture
The warnings were stark. If Zohran Mamdani were to win the New York City mayoral election, his plans to raise taxes – slightly – on the city’s wealthiest residents would cause millionaires to bolt en masse, decamping to lower-tax states such as Florida and Texas.
The New York Post, a conservative tabloid owned by Rupert Murdoch, told readers on an almost daily basis through October that New York would effectively become a ghost town under Mamdani’s mayoralty, a propaganda campaign that concluded the day before the election with the bombastic claim that “nearly a million” people were planning to “flee”.
But a month after Mamdani’s historic win, there is no evidence that rich people are leaving the Big Apple. In fact, they seem to be committing to staying in New York.
You mean the propaganda to convince the middle class they’re just temporarily embarrassed billionaires that will rise to the top with upper class tax cuts?
God I remember when the phrase was temporarily embarrassed millionaire… most people’s incomes haven’t risen that much in decades and being a millionaire is a nothing burger.
Appreciation of a home and a healthy retirement fund can easily be over a million, so I opted to bump it to billionaire because decamillionaire isn’t as clean. But I guess $1 million is still out of reach for the majority of the US population so it could still be temporarily-embarrassed millionaire all the same. Yet again, it’s the billionaire class convincing the decathousandaires the tax cuts for the ultra rich will make them more money