‘Exodus of the Rich’ to Florida Threatens Disaster for NYC
19th June 2021
The wealthy have been fleeing the city all pandemic long, to lower-tax, lower-cost-of-living and lower-crime alternatives. That means big trouble ahead for those left behind, as the top 2 percent of earners supply 51 percent of New York’s income tax take.
Add in middle-class flight, and all the young upstaters leaving for lack of job opportunities, and you see why New York is one of just seven states to lose a House seat after the 2020 Census.
UPDATE: Young NYC homeless people to get $1,250 each month in city-backed study