Mona Shah Quoted in IMI on New York’s Shrinking Share of America’s Millionaires

New York’s changing tax base has raised questions about whether high taxation is encouraging wealthy residents to relocate. Speaking to Investment Migration Insider (IMI), Mona cautioned that “the data cannot isolate a single cause,” although taxes are “plainly part of the picture.”

Mona explains the impact of the post-2020 normalization of remote work and housing costs: “Attributing the shift to tax rates alone overstates what the evidence shows, and dismissing taxes entirely ignores where the movers went.”

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