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Andrew Cuomo: “1% of the wealthiest New Yorkers pay 50% of the taxes.”

Featuring: Andrew Cuomo, Democratic | Former Governor of New York

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Andrew Cuomo Discusses Housing Crisis and Taxation in New York

Published | Video Starts at 00:54

The rich will move to Massachusetts or New Jersey or Florida or Florida, which is what they're doing now, by the way. They won't move to Massachusetts. It's just as bad. Yeah. Before socialism, and we have 1% of the wealthiest New Yorkers pay 50% of the taxes. So you lose a fraction of that 1%, you have a major financial problem. So there is no theory of a socialist state where you're going to sit in this … (00:54–01:00)

CLAIM

Asserts that 1% of New York's wealthiest residents contribute 50% of the state's tax revenue.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.


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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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