The Limits of New York’s “Tax the Rich” Policy

"As of 2023, the 68,570 New York households with incomes above $1 million represented 0.7% of all resident PIT filers and earned 26% of adjusted gross income (AGI) while generating 41% of the total income taxes paid by state residents, according to the state Department of…

— J.C. Polanco, Esq. (@JCPolancoNYC) March 31, 2026