New York City’s Democratic Comptroller, Thomas DiNapoli, is very concerned that the city may be considering raising taxes on the wealthy, leading to a potential flight of the rich from the city, further worsening New York’s budget problems. This is a very legitimate concern unless you factor in all the existing research showing that higher taxes on the wealthy do not, in fact, drive significant numbers of rich people away from cities, and that those higher taxes actually increase city revenue.
Jimmy and Americans’ Comedian Kurt Metzger discuss the remarkable persistence of this particular myth that just happens to discourage raising taxes on the rich.
Kurt Metzger on Twitter: https://twitter.com/kurtmetzger
Kurt’s website: http://www.KurtMetzgerComedy.com
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