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title: "Wait a minute...if you try to tax rich people too much, they leave?…"
date: 2019-02-07
source: facebook
type: Archer T. Ships shared a link.
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# Wait a minute...if you try to tax rich people too much, they leave?…

*February 7, 2019 · Facebook*

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[https://nypost.com/2019/02/04/new-york-has-a-giant-tax-problem-its-leaders-dont-want-to-face/?utm_campaign=SocialFlow&utm_source=NYPOpinionFacebook&utm_medium=SocialFlow](https://nypost.com/2019/02/04/new-york-has-a-giant-tax-problem-its-leaders-dont-want-to-face/?utm_campaign=SocialFlow&utm_source=NYPOpinionFacebook&utm_medium=SocialFlow){target="_blank"}
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Wait a minute\...if you try to tax rich people too much, they leave?\
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What is this sorcery?!?\
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\"New York state's income tax take is dropping rapidly, but its leaders don't seem interested in truly facing the implications.\
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Projected income tax revenues for the year just dropped \$2.3 billion, Gov. Andrew Cuomo and Comptroller Tom DiNapoli announced Monday --- and that's after falling \$500 million in December.\
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Cuomo partly gets what's going on: "'Tax the rich! Tax the rich! Tax the rich!' We did. Now, God forbid, the rich leave," he said. He noted that the top 1 percent of New York earners provide 46 percent of the state's personal income tax revenues, and cited anecdotal evidence that wealthy locals are heading for lower-tax states.\
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The gov blames President Trump and the new tax law's \$10,000 cap on state and local tax deduction. But the exodus started long before the SALT cap: For years, the Empire Center's E.J. McMahon has cited census data showing New Yorkers fleeing to Florida, Arizona and other low-tax states.\"\
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[https://nypost.com/2019/02/04/new-york-has-a-giant-tax-problem-its-leaders-dont-want-to-face/](https://nypost.com/2019/02/04/new-york-has-a-giant-tax-problem-its-leaders-dont-want-to-face/){target="_blank"}
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