HYGO News Kennedy: why are so many wealthy people leaving NYC? Clausing : not fleeing NYC
Kennedy: why are so many wealthy people leaving NYC? Clausing : not fleeing NYC
#shorts On 3/18/2023, UCLA Tax Law and Policy professor and former Biden Administration official Kimberly Clausing testified before the Senate. Louisiana Republican Sen. John Kennedy grilled the progressive tax law professor about why so many wealthy people are fleeing New York City. Dr. Clausing acknowledged that New York City is an incredible city of innovation and immigration, with many advantages to living near centers of entrepreneurial activity. However, when asked if wealthy people are leaving to be nearer to such centers, she replied that she did not believe that many people were fleeing the city. Mr. Kennedy countered that there were thousands leaving, citing multiple studies. Dr. Clausing noted that she could not speak to why particular individuals were leaving and refused to say it is because of high taxes.
Mr. Kennedy asked Dr. Kimberly Clausing this question: why are so many wealthy people leaving New York City?
“New York City is an incredible city of innovation, immigration, entrepeneurship-”
“Why but why are wealthy people leaving?” Kennedy jumped in.
“I think there are big advantages to living near centers of entrepreneurial activity and we see that on the west coast,” Clausing said.
“You think they’re leaving to be nearer to centers of entrepreneurial activity, do you?”
“Well I don’t think there are people who are fleeing New York City-”
“Sure there are! There’s thousands,” Kennedy cut in. “Study after study after study. Why are so many wealthy people leaving New York City?”
“I think there’s an enormous number of wealthy people who are in New York City,” Clausing said before Kennedy again jumped in.
On 3/18/2023, UCLA Tax Law and Policy professor and former Biden Administration official Kimberly Clausing testified before the Senate. Louisiana Republican Sen. John Kennedy grilled the progressive tax law professor about why so many wealthy people are fleeing New York City.
other clips of this published longer video is here: <a href=“https://youtu.be/SqUjEVkYjL4\” rel=“nofollow”>https://youtu.be/SqUjEVkYjL4
Kennedy: why are so many wealthy people leaving NYC? Clausing : not fleeing NYC