In a speech on Wednesday, New York City's Democratic Mayor Eric Adams defended wealthy New Yorkers and scolded those apathetic towards their mass exodus from the state.
Adams stressed the importance of supporting business leaders coming out of the pandemic, and working towards New Yorkers' collective common goals of public safety, housing and mental health. But he condemned city residents who didn't feel high-income earners were a vital component of the state's success and recovery.
He slammed the class warfare rhetoric for "dividing the city."
"It's about stop dividing our city, to continually attack high-income earners. Where 51% of our taxes are paid by 2% of our earners," Adams said.
WEALTHY NEW YORKERS FLED CITY EN MASSE AS HIGH-TAX STATE EXODUS PERSISTS
"That blows my mind when I hear people say, ‘So what if they leave?’ No, you leave!" Adams scolded.
Nearly 10% of New Yorkers earning over $750K fled the state in 2020, according to New York City media outlet The City.
"I want my high-income earners right here, in this city. I want them to be part of the person who drives the limousine to be paid a good wage and a person who sits in the back of the limousine to continue to use their discretionary funding to go to our restaurants, hotels, and travelers," he added.
Adams made similar remarks while he was running for mayor in October of 2021.
New York is one of the most expensive places to live and do business in the United States because of its high tax rates. According to a 2022 analysis by WalletHub, New York has the highest tax burden in the nation.
After Governor Kathy Hochul's win in November, city leaders urged her to rein in spending and not increase the already high tax rates. Partnership for New York City President and CEO Kathryn Wylde told Fox Business that increasing taxes would drive businesses out of the state.
"Particularly at the state level, where the legislature is eager to spend money we don't have, the governor is going to be in a position of trying to manage expectations of spending that we may not be able to afford without a tax increase," Wylde said. "And we believe that a tax increase will drive business and talent out of the city."
Crime has also skyrocketed in the city since 2020, forcing businesses like Rite-Aid to close stores.
