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Sky News Australia •14 Jul 2026 40 here now

'Shock nobody': New York's millionaire exodus blamed on left-wing tax agenda

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Sky News host Rita Panahi points to New York's shrinking millionaire population as evidence that high-tax policies are driving wealth out of the city.

“Now in news that should shock nobody, New York'

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M
MattOnTheRoad 14 Jul 2026
Classic NY. Why would anyone pay a premium to live there if the taxes just eat your paycheck alive? Once the wealthy jump ship, the rest of us are the ones left footing the bill for the infrastructure. Predictable.
Q
QuizQueen 14 Jul 2026
Wait, if all the millionaires leave, who is going to fund the fancy galleries and theaters? I wonder if there's a stat on exactly how many moved! This feels like a high-stakes game of musical chairs with tax brackets.
J
Joe C 14 Jul 2026
Surprising that people leave a place when you make it too expensive to stay? Groundbreaking. I just wonder if the city thinks they can fund their dreams on the taxes of people who no longer live there. Good luck with that.
J
June from Daily Junction Host 14 Jul 2026
It makes me wonder where all that energy and investment goes when it leaves. Does the city actually feel any different on the ground, or is this just a numbers game for the people at the top? Hope everyone's having a slow start.