A former state tax commissioner who sat on both tax policy commissions convened last year by Governor Andrew Cuomo said it would be “a real challenge” for state officials to let New York's “millionaires' tax” expire on schedule at the end of 2017. Read More
The Empire Center, a nonpartisan think tank in New York, released a report today suggesting that New York has lagged behind the rest of the nation in making new millionaires. Read More
“What makes this industry more special than any industry that would invest here if you paid them to do it?” said E.J. McMahon, president of the Empire Center for New York State Policy in Albany, which opposes government subsidies. “The difference is, well, it’s high-profile and it’s really glamorous. And oh, incidentally, it’s run by people who are really savvy, generous political givers too.” Read More
E.J. McMahon sat down with Nick Reisman to discuss the Empire Center's finding that New York had created new millionaires at the slowest rate in the nation between 2011 and 2012. Read More
Taxes on the wealthy are starting to drive millionaires away from New York state. Read More
The Empire State recently has fallen behind the national average when it comes to adding new income millionaires. Read More
Indeed, since 2000, we’ve lost 2 million people to other states, the Empire Center notes. Businesses, too, find it difficult to operate here: Upstate New York long ago became an economic wasteland. The fact that our taxes are the highest in the nation plays a key role in fueling the exodus. Read More
E.J. McMahon joined John Gambling to discuss New York City's decision to pay an extra $42 million to school bus drivers. Read More