Millionaires tax’ threat has some NY bankers, managers eyeing exits

(Reuters) For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. “I’m already looking for an apartment in Florida,” said one highly paid person at a top-tier bank who asked not to be identified because his employer does not yet know of his plans to move. Others earning more than $1 million are considering still bolder steps such as moving not only themselves but also their entire investment firms out of the city, arguing higher taxes cut into their ability to pay staff.

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