Posted on 07/14/2026 4:58:26 AM PDT by Libloather
Americans are some of the most mobile people on Earth: They move homes about three times more often than Europeans.
As a recent report shows, that mobility is a problem for New York’s rising socialist movement.
A new Citizens Budget Committee report found that New York’s share of millionaires, those earning more than a million dollars a year, declined more than any other state since 2010.
The state went from having 12.7% of all millionaires in the nation to 8.7%.
Worse yet, in the more recent years, the state’s highest earners have been leaving much faster than its lowest earners.
The flight of the millionaires leaves the rising Democratic Socialists of America movement, and Mayor Mamdani in particular, in a bind.
On one hand, DSA campaigns have centered around attacking the millionaires and billionaires whom they claim are squeezing working citizens.
On the other, the DSA needs those same people to pay exorbitant taxes to fund their social programs.
Mamdani in his campaign wanted to raise taxes on millionaires by 2%.
The New York City DSA’s chapter suggests the state should raise taxes on those making over $300,000 a year and on capital gains and inheritances as well.
(Excerpt) Read more at nypost.com ...
Dear FRiends,
We need your continuing support to keep FR funded. Your donations are our sole source of funding. No sugar daddies, no advertisers, no paid memberships, no commercial sales, no gimmicks, no tax subsidies. No spam, no pop-ups, no ad trackers.
If you enjoy using FR and agree it's a worthwhile endeavor, please consider making a contribution today:
Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you,
Jim
It’s no bind, it’s by design.
They knew this would happen. It’s working as planned. Mamwhiney gets on TV and social media defending his actions and pleading for them to come back but it’s all BS show.
They are in the “cut of a personal body part and eat it to survive” phase, it gets worse and goes faster from here.
He’s run out of others peoples money
Soon, most NY’ers will be equally poor
Oh That’s too bad , treat people like trash and they leave .
(NYC’s socialist movement forcing millionaires to flee
the state — leaving Mamdani, DSA in a bind)
Stay Stupid, Democrats!! It’s working!!
🤦🤦♀️🤦♂️
Adios, New York City 🏙️🏙️🏙️
🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿
It is what they want. Those who can’t flee are dependent upon the government.
There is no disarray. Mamdani and the DSA/Democrats know that, in the end, the Democratic Hochul will pony up the debt to NYC.
Big city Democrat mayors are counting on a bailout the next time a Democrat is in the White House. And they’re probably right to think that way.
Actually that’s not a bug, that’s a feature. Drive all your opposition out of town, and the city stays deep blue in perpetuity. It’s called “The Curley Effect”, and how they plan to get Socialists in power in every major US city.
The exact same thing is playing out in California, New Jersey, Illinois and Massachusetts - just slightly more slowly than in NYC.
Easy fix, just make it illegal to leave the state without a year’s notice, transfer your bank accounts out of state for one year after you do, and a Exit Fee of $100k...............
“The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of socialism is the equal sharing of miseries.” - Winston Churchill..........
“Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy,” - Winston Churchill............
This has been the playbook of Socialists for years. Margaret Thatcher summed it up best 35 years ago - keep everyone poor, addicted to government handouts and voting for the liberals who will give it to them -
“What the honorable gentleman is saying is that he would rather the poor were poorer provided the rich were less rich. And what a policy. Yes. He would rather have the poor poorer provided the rich were less rich. That is the Liberal policy. Yes, it came out. He didn’t intend it to but it did."
First to go: Retired state workers on a pension. NY is paying out but not receiving the taxes from it.
He and Jochul both.
We keep hearing this crap about the rich leaving while Madmani expands his empire to to California, Maine, Vermont, and with an Ethiopian chimp running in Colorado.
Simple solution: Pass a law making it illegal to leave New York state.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.