Part 8/9:
He cited that approximately 45,000 taxpayers in New York City contribute nearly 50% of the city’s income taxes. A movement of just an additional 5,000 wealthy individuals could significantly alter the city’s tax revenue and budget stability. Recognizing the high mobility of the wealthy, Peebles warned that this trend of migration is likely to accelerate, with economic repercussions that could reshape the city’s future.
"We’re already seeing that, and it’s going to get worse," he said.