Thursday at 10 am, Executive Director @emmurpheis.bsky.social will appear on the 30 Issues in 30 days series to discuss New York taxes and the Governor's race.

"We have a very well functioning income tax system that raises a lot of revenue, and is, according to many economists, just the best way to raise revenue and make sure we're raising it from those who are the luckiest amongst us" FPI in Hell Gate on the NYC comptroller's income inequality report.

New York saw a slight increase in its concentration of millionaires while the national share remained flat. Florida, which has no personal income tax, saw its concentration decline. The predicted exodus to low tax states has yet again failed to appear. 3/4

New IRS data on 2023 tax filings show that states with millionaire taxes have the highest concentration of millionaires. These states attract the most educated workforces and have the most capacity to invest in high-quality public services and infrastructure. 2/4

Our new analysis finds that states that tax high earners produce more millionaires. This is no surprise: Investing in an educated workforce, childcare, and reliable transit strengthens the economy and pays back dividends for everyone, including the rich. 1/4