AOC Crusade for Billionaires Tax Could Result in Wealthy Exodus from NYC

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AP

Jared Evan

Cortez and a coalition of progressive groups launched a campaign to pressure Gov. Andrew Cuomo and the Legislature for a billionaires tax they say would generate $5.5 billion.

The Fund Excluded Workers coalition launched a new video feat. AOC, Jumaane, Ramos, De La Rosa & Niou, and numerous immigrant workers to demand Gov. Cuomo to enact the billionaires tax to help Immigrant workers excluded from Unemployment and Federal Tax Rebates,  immigrant families who have lost their breadwinner and have no access to replacement income and very small businesses or the self-employed who lack documentation to apply for small business relief and are barred from Unemployment and PUA.

Several demonstrations from this organization were held featuring AOC herself.  Dozens of immigrant workers have begun a joint 24-hour fast and sleep-in outside Amazon founder Jeff Bezos’ penthouse in Manhattan, to lobby New York authorities to tax the wealthy to help the pandemic-affected poor.

The demonstration was in support of a tax on billionaires, backed by Rep. Alexandria Ocasio-Cortez, to raise money to help people hit hard by the coronavirus pandemic, ABC7 reported.

The group said the work of immigrants generates more than $1 billion in the US economy, but many of them were ineligible to receive benefits during the COVID-19 crisis due to their citizenship status.

The warning shot from the Partnership for New York City comes a day after this crusade began.

The NY Post reported on a report from Partnership for New York City.

“Stabilization of the tax revenue base to avoid further losses should be the first objective in a recovery plan … The idea of raising tax rates on the highest earners could have the effect of creating further losses. The top 1 percent of earners who currently account for almost 40 percent of state tax revenues are highly mobile,” the Partnership said in a report that includes recommendations on how to recover from the COVID-19 recession. Many relocated to other locations during the pandemic and, after five months working remotely, some may consider permanent residence outside the city or state,” the report said.

The study noted that the coronavirus outbreak caused a temporary exodus of about 5 percent of mostly wealthy city residents who decamped to second homes outside New York. “If this pattern holds, the tax losses facing the state and city will be extended,” the business group said.

Meanwhile Ocasio-Cortez said in the video  “Governor Cuomo, we need you to pass a billionaire’s tax, in order to make sure that we’re providing for our working families. It’s time to stop protecting billionaires, and it’s time to start working for working families.”

Cuomo did resond and is not in favor of the young progressive socialist’s unrealistic idealistic plan. “ “If they want a tax increase, don’t make New York alone do a tax increase, then they just have the people move to Connecticut. Let the federal government pass a tax increase. And let them apply it all across the country, so you don’t hurt anyone state. Because if you take people who are highly mobile, and you tax them, well then they’ll just move next door where the tax treatment is simpler. It has to be done on a federal level,” Cuomo said on a conference call with reporters.

“I’d like to see those officials demanding that Washington do what it needs to do to help New York and the other states.”

 

 

 

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