Hochul urges the wealthy to return to NY as Portnoy blasts policy, backlash grows online against the Governor and NYC Mayor
Albany, NY – New York Governor Kathy Hochul’s public appeal for wealthy residents to return to the state is drawing mounting criticism from business figures and residents, intensifying a broader debate over taxation, outmigration, and the state’s economic direction.
Hochul, addressing concerns about declining tax revenue, emphasized the need to retain and attract high-income earners to support public spending priorities. “I need people who are high-net-worth to support the generous social programs that we want to have in our state,” Hochul said. She added, “the first step should be to go down to Palm Beach and see who we can bring back home because our tax base has been eroded.”
Her comments come amid continued reports that New York has lost a portion of its highest earners to lower-tax states such as Florida, a shift that accelerated during the pandemic and has persisted as remote work remains more common.
Key Points
- Hochul calls for wealthy residents to return as New York’s tax base faces pressure
- Dave Portnoy and others criticize state leadership over taxes and messaging
- Social media reactions highlight voter frustration and confusion over policy direction
Portnoy and critics point to tax policy and rhetoric
Dave Portnoy, founder of Barstool Sports and a high-profile figure who relocated to Florida, emerged as one of the most vocal critics of Hochul’s remarks. His response focused on what he described as inconsistent messaging from New York leadership, particularly when compared to political figures advocating for higher taxes on wealthy individuals.
“The unbelievable arrogance and hypocrisy of begging millionaires to return to New York while the new Mayor simultaneously says he despises millionaires and supports communism,” Portnoy wrote on X. “I wonder why people are flocking to Florida?”
Portnoy’s criticism reflects a broader argument among some business leaders and taxpayers that New York’s tax policies—combined with rhetoric perceived as hostile toward wealth—are contributing to an ongoing migration trend. Florida, which has no state income tax, has been a frequent destination for individuals and businesses leaving higher-tax states.
The debate has also drawn attention to New York City Mayor Zohran Mamdani, a democratic socialist elected in November 2025, whose past statements supporting higher taxes on the wealthy and questioning the role of billionaires have become part of the broader political conversation.
Social media clash amplifies controversy
The issue escalated beyond policy debate after Hochul’s press office engaged directly with Portnoy on social media, referencing SoulCycle locations in New York in a response that many users found confusing or dismissive. It dates back to a relatively obscure incident where a trainer from that business had an affair with Portnoy’s ex-girlfriend.
That exchange triggered a wave of reactions from users across the political spectrum, many of whom questioned the state’s strategy and messaging.
“So you told millionaires you dont need them. tax money is now taking a hit. youre begging millionaires to come back while also making fun of them?? you guys are such idiots its crazy lol,” one user wrote.
“Do you want businesses to stay or leave? Your position is very confusing,” another added, reflecting a recurring theme among critics.
Some responses focused specifically on the state’s social media tone. “Am I missing something by not understanding what having the most soul cycles has to do with people fleeing NY,” one user wrote.
Others were more blunt in their assessment of migration trends. “And you wonder why people are fleeing New York,” another user posted, while one commenter added, “This will really help you give your mayor more handouts… your plan is very confusing.”
The range of responses underscores how economic policy debates are increasingly playing out in public, real-time forums where messaging can quickly shape perception.
Broader questions about New York’s economic strategy
New York remains one of the highest-tax states in the country, particularly for top earners, with revenues supporting a wide array of social programs and public services. Supporters of the current approach argue that maintaining those programs requires consistent contributions from high-income residents.
Hochul’s comments reflect that position, emphasizing the role of wealthy taxpayers in sustaining state services and addressing budget pressures tied to shifting population patterns.
The tension is not unique to New York but is particularly visible in states with high costs of living and progressive tax structures. As remote work allows greater flexibility in where individuals live, tax competition between states has become more pronounced.
At the same time, political rhetoric has become part of the equation. Statements from elected officials about wealth, taxation, and economic priorities are increasingly scrutinized not just for policy implications but for how they are perceived by residents and businesses weighing relocation decisions.
For now, Hochul’s call to bring high earners back to New York highlights the stakes of that balancing act. Whether the state can retain and attract those taxpayers while maintaining its policy priorities remains an open question as the debate continues.
New Yorkers however remain in shock over their taxes funding a tabloid style feud online.
Photo: Political Satire / AI Generated / Cartoon.
