'The 'Mamdani Effect' in New York: Can the City Afford a Millionaire Tax?

Will higher income taxes drive the wealthy to flee New York in 2026?

# 'The 'Mamdani Effect' in New York: Can the City Afford a Millionaire Tax? Will higher income taxes drive the wealthy to flee New York in 2026? **Read the full article:** [Kiplinger](https://www.kiplinger.com/taxes/the-mamdani-effect-in-new-york-can-the-city-afford-a-millionaire-tax) *This article was originally published by Kiplinger. MoneyWiseInc provides expert curation of the best financial content from trusted sources.*