Empire State of Decline
Can it be that Rep. Alexandria Ocasio-Cortez, who represents one of New York state’s most heavily taxed and regulated jurisdictions in the country, is capable of appreciating the burden big government imposes on average citizens?
“Let’s not get carried away,” advises James Freemen in the WSJ.
Is it possible that one of the country’s most famous leftists has noticed how much money it takes to live in one of America’s bluest cities?
Rep. Alexandria Ocasio-Cortez, aka AOC, noted that working-class residents are fleeing New York City because it’s too expensive,
The New York Post’s Carl Campanile reports:
The congresswoman made the claim during a discussion of the migrant crisis and Mayor Eric Adams’ controversial across-the-board proposed budget cuts that would shrink the police force and trim spending on schools, libraries, and cultural arts programs.
During her tele-town hall meeting, (AOC) wondered why the mayor and council weren’t looking to boost taxes on the wealthy — such as pricey pied-à-terre or luxury crash pads for the jet-setting ultra rich.
She said the data doesn’t back up claims that the wealthiest residents will leave over raising their taxes, though recent census data indicates more high-income New Yorkers including billionaires have moved out.
“But guess what? The people who are moving out of the city are not by and large the wealthiest people. They’re the working class. They can’t afford to live here anymore,” she said.
in recent years, higher-income earners have been more likely to leave, reports Mr. Freeman.
But in the congresswoman’s defense, the burden of Big Apple governance has been motivating people up and down the income scale to seek greener and more affordable pastures elsewhere. For New York State as a whole, a state government website shows both the millionaire flight through 2021 and also the remarkable net outbound migration of 2019-20 that included all ages and income levels. In these polarized times, unaffordable living has been the communal bond that unites all of New York!
Fleeing the Unfordable
Alarmed by big budget cuts, AOC and her ideological allies are calling on the city and state to “fund resources for all New Yorkers” by raising taxes on the top 5% of New Yorkers. Considering the left’s prior focus on “the 1%,” this is a major development.
According to Tim Hoefer of the Empire Center for Public Policy, AOC & Co. are calling on the city and state to “fund resources for all New Yorkers” by raising taxes on the top 5% of New Yorkers.
Considering the left’s prior focus on “the 1%,” this is a major development.
The top 1% of New Yorkers begins just south of $1 million in adjusted gross income. But the top 5% begins a little above $250,000—translating into married couples making $127,000 each.