Share on facebook
Share on twitter
Share on linkedin
Share on email

Speaking of Dysfunctional Blue States: AOC Wants to Double the Highest Income Tax Rate in New York

There’s been an ongoing race over the past two decades between California and New York to see which state can tax the rich the most. Right now, California with a top income tax rate of 14% has a slight lead over New York, at 13.3% (which counts the NY City income tax surcharge).

But now, Rep. Alexandria Ocasio-Cortez has endorsed a Democratic Socialists of America plan to almost double the state’s income tax rate to as high as 24%, according to the New York Post. This is on top of the federal rate of 37%. The new tax rates would start to climb for those New Yorkers with incomes above $250,000, which for residents of Manhattan where the cost of living is as high as the Empire State Building, is practically the average income.

The DSA’s soak-the-rich proposal comes as a new study finds the Empire State has suffered an exodus of 27,101 millennials aged 26 to 45 earning more than $200,000 a year than any other state. By contrast, Florida has had a 5.6 percent increase in wealthy millennials.

Something tells us Florida, Tennessee, and Texas – which have no state income tax – are about to get a lot more crowded.

Unleash Prosperity Hotline


1155 15th St NW, Ste 525
Washington, DC 20005