What AOC Means By “Tax The Rich” & Why It Makes People Scared
The COVID-19 crisis has created a massive budget shortfall in New York state. But, amid mounting pressure to tax the wealthy in order to offset it, Gov. Andrew Cuomo continues to double down on his refusal to raise taxes for millionaires or billionaires.
When asked on Monday about the prospect of taxing the state’s more than 100 billionaires, Cuomo cited concerns about so-called “tax flight” — the possibility that higher taxes could spur a mass exodus of New York’s wealthy.
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