Businesses CAN’T RELOCATE to lower taxed states to save money

“What I’ve proposed is that we raise $10 billion to pay for our entire economic agenda and start to Trump proof our city, because we know he’ll use federal funding as leverage over this city. And we will do so in two key ways. The first is to match the state’s top corporate tax rate to that of New Jersey. We are at 7.25%. They’re at 11.5%. Corporations can pay it over there, they can pay it over here.

And the beauty of it is that it doesn’t just apply to corporations headquartered in New York City, because when you say this, people will say, well, they’re going to go to Florida. Wherever you are headquartered, as long as you do business in the state of New York, you are taxable for that corporate tax.

— The second is taxing the top 1% of New Yorkers. We’re talking about people who make a million dollars a year or more, taxing them just by a flat 2% tax increase.”

https://x.com/WallStreetApes/status/1938230440483262636