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The tax base is leaving but not people. I know people at work that moved to other states but remain working in NYC. They commute only 1-2 a week and work remotely rest of the week. Many companies are opening offices elsewhere so they can take advantage of tax reporting. This is why Cuomo will see further declines in tax revenue this April. Majority of people who are high earners are changing their residency but continues to fly into NYC.
Telecommuting was always around but because of recent tax changes by the Fed and cost of living people are aggressively moving.
I thought gentrification and all of those college educated millinnials who moved to NYC during the last decades was supposed to save and help up lift nyc and NYS with their income and talents?
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