‘We’re done’: NYC loses billions in tax revenue amid mass exodus of millionaires under Mamdani

Sky News host James Morrow discusses New York City under Mayor Zohran Mamdani.

“There’s a new analysis … showing that New York’s share of millionaires has dramatically declined, causing a nearly $11 billion loss in much-needed tax revenue in just one year,” he said.

“Kind of feels like everything we thought was going to happen under Mamdani is happening. From explaining away crime to the tax base saying, yeah, we’re done; who knew.”