New York State and City are extraordinarily dependent on millionaire earners to sustain the tax base.

New York State and City are extraordinarily dependent on millionaire earners to sustain the tax base. In 2023, New York households with $1 million or more in incomes represented just 0.7% of all state personal income tax filers, 26% of income, and 41% of total income taxes paid. pic.twitter.com/MhlR9CJChI

— City Journal (@CityJournal) April 8, 2026