Ramit SethiRamit Sethi: The No-BS Guide to Living a Rich Life

Millionaires Have Used This Tax Threat for 75 Years

15 Jan 2026 · 1 min

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A monologue criticizing wealthy individuals' recurring threat to leave when taxes rise, framed around the June 2025 election of democratic socialist Zoran Mandani as New York City's mayoral primary winner. The speaker characterizes these threats as a 75-year-old tactic, ridicules politicians and wealthy people who warn of a mass exodus, and uses personal mockery (e.g., refusing to move to Palm Beach) to undermine the claim.

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In June 2025, democratic socialist Zoran Mandani won New York City's mayoral primary. And immediately, the wealthy started making their usual threats. Hey, everybody, I'm a rich guy, and if you dare increase my marginal taxes even 0.25%, I'm going to pack up and leave. Are you freaks seriously still believing this bull? They've been using the same technique for the last 75 years, and you still buy it every single time. I can't believe you're falling for it. Governors and politicians, they also played their part. They lined up warning Madani's election will trigger a mass exodus of millionaires. They're all going to Palm Beach. First of all, take a deep look in my eyes. Do I look like the kind of guy who wants to move to Palm Beach? Do you think I'm going to Palm Beach? Not in a million years.