Mamdani’s NYC Nightmare: $14 BILLION Just Fled to Florida – And It’s Getting WORSE!

Mamdani’s NYC Nightmare: $14 BILLION Fled to Florida—And the Collapse Is Just Beginning

On January 1st, 2026, New York City woke up to a new reality: Zoran Mamdani, a 33-year-old Democratic socialist from Queens, had just taken the reins of America’s largest city. His platform—tax the rich, free buses, city-run grocery stores, universal child care—promised a revolution. But within 48 hours, the city’s billionaires were already dialing their lawyers and realtors, searching for lifeboats in Dallas, Miami, and Austin. This isn’t a drill. It’s the start of an economic unraveling that’s sending shockwaves nationwide.

The Exodus Begins: Wall Street Runs for the Exit

Mamdani’s victory sent a clear signal: New York City’s golden age for business was over. Within days, Goldman Sachs confirmed its $500 million Dallas campus. JP Morgan Chase quietly shifted 7,000 more jobs to Texas than they now have in New York. Barry Sternlicht, CEO of Starwood Property Trust, told CNBC his $29.9 billion firm is considering a move. And that’s just the tip of the iceberg.

If you’re a high earner in NYC, the numbers are brutal. Here’s the breakdown:

Federal income tax: Up to 37%
New York State tax: Up to 10.9% (one of the highest in the nation)
NYC tax: Another 3.876%

Add it up:
Over 50% of your income vanishes in taxes.
And it gets worse—capital gains are taxed as ordinary income. Sell your stocks, property, or any asset, and you’re hit with the same punishing rates. Mamdani wants to raise taxes even higher.

The Middle Class Is Fleeing Faster Than the Rich

Forget the myth that only billionaires are leaving. Between June 2024 and October 2025, over 128,000 people left New York City. The biggest group? People earning $51,000 to $100,000—teachers, nurses, small business owners. Over 66,000 in that bracket alone. Another 62,000 making $101,000 to $200,000 are gone. These are the people who keep New York running, and they’re running for the exits.

Why?

Manhattan one-bedroom: $4,500/month
Property taxes: climbing
Groceries, gas, utilities: crushing
Mamdani’s new policies: even more squeeze

Florida Wins Big—$14 Billion in Income Gone

Where’s everyone going?
Florida is #1.
16.68% of NYC’s leavers headed to the Sunshine State. Why?

No state income tax
Lower cost of living
Business-friendly government
Warm weather

Over 125,000 New Yorkers fled to Florida in just a few years, taking $14 billion in income with them. Texas is booming, too—JP Morgan Chase now has more employees in Texas than in New York. Goldman Sachs is building a campus in Dallas for 5,000 workers. Dallas’s mayor predicts a flood of companies will follow.

The Tax Nightmare: A City on the Brink

Here’s what should terrify every New Yorker—especially those who voted for Mamdani.

Top 1% of taxpayers (about 41,000 people) pay over 40% of all income taxes.
Top 10% pay two-thirds of all income tax revenue.
The remaining 90% of taxpayers contribute just a third.

When high earners leave, the impact is catastrophic. Between 2019 and 2020, the number of New Yorkers earning $150,000–$750,000 fell by 6%. Those making over $750,000 dropped by 10%—and that was before Mamdani. Now, the exodus is accelerating.

Who’s going to pay for free buses, universal child care, and city-run grocery stores?
Answer: Nobody.
The city goes broke.

Retail Apocalypse: Small Businesses Crushed

While Wall Street grabs headlines, small businesses are dying quietly. In 2025 alone, beloved NYC institutions closed their doors—restaurants, family-owned furniture stores, local shops. Why?

Rent increases
Rising costs
Crushing regulations
Hostile business climate

A furniture store owner who closed after decades said the stress literally made him sick. Big corporations survive; small businesses close. Every closure means more jobs lost, more empty storefronts, more neighborhoods hollowed out.

Mamdani talks about helping working people, but his policies are destroying the small businesses that employ them.

The Migration Data They Don’t Want You to See

Mainstream media says “tax flight” is a myth, citing old studies from before the pandemic and remote work. But the new data tells a different story:

Peak exodus months: August 2024 and August 2025
88% of new NYC arrivals earn under $200,000

NYC is losing high earners and replacing them with lower earners. Expenses keep rising, tax revenue keeps falling. The math doesn’t work. The city is heading for a fiscal cliff.

The Trump Comparison Nobody Expected

Business leaders are comparing Mamdani’s rise to Trump’s. Both tapped into frustration with the status quo, promising simple solutions to complex problems. The difference?

Trump: Encouraged growth, economic freedom
Mamdani: Punishes success, expands government control

Red states with low taxes are booming. Blue states with high taxes are shrinking. The experiment has already been run—and we know how it ends.

What Happens Next: The Death Spiral

Mamdani’s big plans—city-run grocery stores, free transit, universal child care, massive tax hikes—are about to collide with reality.

Month 1-3: Businesses quietly expand elsewhere
Month 4-6: First wave of official relocations
Month 7-12: Major companies move significant operations
Year Two: Revenue shortfall; taxes rise again; exodus accelerates
Year Three: Fiscal crisis; services cut; quality of life plummets; more people leave

This is the death spiral, and it’s already begun.

The Choice Every New Yorker Faces

If you’re a high earner in New York City, you have a decision:

Stay and pay over 50% in taxes to fund programs you don’t support
Leave for Florida or Texas, keep more of your money, and enjoy a better life

For now, NYC still has culture, energy, and opportunity. But as the tax base collapses, services decline, crime rises, and the best and brightest flee, what’s left? NYC has run on reputation for decades—but reputations can be destroyed. Just ask Detroit, San Francisco, Chicago.

The Real Numbers Wall Street Won’t Admit

NYC lost 8,400 financial jobs in one year—massive tax revenue gone
Over 1,200 retail stores closed—neighborhood vitality lost

The city’s budget office confirms the hemorrhaging of high earners, but won’t admit how bad it will get under Mamdani. If they did, panic would set in—bond ratings would drop, borrowing costs would spike, the fiscal crisis would accelerate.

But business leaders aren’t fooled—they’re making plans to leave.

Why This Matters for All of America

You might think, “I don’t live in New York—why should I care?”
NYC is a test case. If Mamdani’s socialist policies succeed, other cities will follow. If they fail, others will learn what not to do.

NYC is America’s financial capital. When its economy crashes, it hurts the whole country—capital markets, financial stability, economic growth nationwide. Plus, fleeing New Yorkers are bringing their political views to new states. Will they learn from their mistakes, or vote for the same policies they fled?

The Bottom Line Nobody Wants to Say Out Loud

Zoran Mamdani is a true believer. He thinks socialism will make NYC better. His heart may be in the right place—but his economics are dead wrong. You can’t tax your way to prosperity. You can’t regulate your way to growth. You can’t punish success and expect more of it.

History has proven these truths, but every generation has to relearn them the hard way. NYC is about to get a very expensive education.

The tragedy? The people who suffer most aren’t the rich—they can leave. It’s the working-class New Yorkers who can’t afford to move, who will face deteriorating services, higher crime, and fewer opportunities.

Your Move: The Exodus Is Now

The New York City exodus isn’t coming—it’s already here.

125,000 people to Florida
Billions in lost tax revenue
Major financial institutions building campuses elsewhere
Small businesses closing daily

This is just the beginning. If you’re in NYC, ask yourself:
Will you be one of the last ones out?
Because those who wait will get hurt the worst—crashing real estate values, vanishing job opportunities, unbearable tax burdens.

The smart money is already gone.