you are viewing a single comment's thread
view the rest of the comments
[–] 38 points 11 months ago (9 children)

A lot of millionaire wealth is tied to where they live. A New York lawyer or doctor can't just move to Miami and expect to have the same level. Business owners could potentially move, but they still would need to keep traveling back and forth. Ultimately, their social life and lifestyle is where they already liveand being the one who moved because "is expensive" it would be seen as cheap.

  • source
  • parent
  • hideshow 9 child comments
  • [–] 17 points 11 months ago (5 children)

    FYI when we’re talking about taxing the rich and wealth we’re not talking about doctors and lawyers even if they still make a fuck ton because they are still getting paid for their labour and they need to work in order to maintain their lifestyle even if they would be considered rich.

    What we’re talking about are people who make their living through their capital I.e. due to the exploitation of other people.

  • source
  • parent
  • hideshow 5 child comments
  • [–] 4 points 11 months ago (4 children)

    This article is about an income tax. An additional 4% tax on income over 1 million dollars annually.

    This article is not about a wealth tax.

  • source
  • parent
  • hideshow 4 child comments
  • [–] 1 point 11 months ago (3 children)

    2% according to the article, not 4%.

  • source
  • parent
  • hideshow 3 child comments
  • [–] 1 point 11 months ago (2 children)

    Voters narrowly approved a 4% surtax on incomes over $1 million in a statewide ballot referendum in November 2022.

    ??

  • source
  • parent
  • hideshow 2 child comments
  • [–] 12 points 11 months ago (1 child)

    A quick search suggests most New York lawyers (avg $176k/yr) and surgeons (avg $300k to $750k) aren't going to be be affected.

  • source
  • parent
  • hideshow 1 child comment
  • [–] 16 points 11 months ago*

    Yeah. We usually consider lawyers, doctors, tech people, academics at fancy universities etc. to be rich. But in the grand scheme of things, they're upper middle class at best. The real rich are all people with generational wealth coming from businesses.

  • source
  • parent
  • [–] 3 points 11 months ago

    This is not about wealth though, but income instead.
    I doubt those income millionaires can just leave New York and be better off than paying an additional 2% income tax while staying in NY.
    In all likeliness they'd have much more net loss from leaving NY than from additional measly 2% tax.

  • source
  • parent