Anthony Scaramucci cautioned that electing Zohran Mamdani as New York City's mayor might lead to a departure of affluent residents, which would severely impact the economy. Scaramucci noted that 500,000 wealthy individuals have already left since 2017 and estimated that an additional 150,000 to 200,000 could leave if Mamdani wins. While New York saw a temporary drop in millionaire households during the pandemic, it still gained overall due to a strong economy, with debates stirring over proposed tax increases on the wealthy, especially those making $1 million or more.
Scaramucci expressed concern that the election of Mamdani could lead to an exodus of wealthy residents from New York City, causing significant economic strain.
He highlighted that New York has already lost half a million super-rich since 2017 and predicted another 150,000 to 200,000 would leave if Mamdani wins.
A Fiscal Policy Institute study noted while New York lost 2,400 millionaire households from 2020 to 2022, it gained 17,500 millionaire households during this period.
Mamdani's proposals, especially the 2% income tax increase for earners above $1 million, sparked debate among affluent New Yorkers.
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