SE’s Andrew Beveridge on Wealthy NYers Not Fleeing (New York Times) by Sydney Beveridge
While discussions about tax policy changes swirl in Albany, an analysis of the Census shows that wealthy New Yorkers have stayed in the state regardless of tax rate changes. In the New York Times City Room article “Wealthy New Yorkers Are Staying In State, Census Shows,” Sam Roberts examines the controversy over maintaining or increasing taxes on the wealthy. He cites data and analysis from Social Explorer’s Andrew Beveridge in his discussion.
Opponents of extending the surcharge have argued that it would chase away the rich and, as a result, reduce overall tax revenue. But two census analyses do not support that view.
According to the Census Bureau’s latest American Community Survey, the average household income of those who left the state in 2010 was $44,739. The average for those who came was $55,419 — the largest differential in at least five years.
“Despite claims to contrary,” said Andrew A. Beveridge, a sociologist at Queens College of the City University of New York, “it appears that among affluent households, more chose to move to New York State and City than chose to leave it.”
A separate analysis of census data found that the number of households making more than $250,000 who lived in New York a year earlier but left peaked in 2004 and has generally declined since 2007. About 14,000 households in 2009 and the about the same number in 2010 reported having left New York within the past year, the lowest numbers in that category since 2003.