A new report from New York City Comptroller Mark Levine finds that income inequality in the city worsened from 2019 to 2024, even as wages for the lowest earners grew. The top earners saw significant gains from investments, which constitute the largest share of their income. This trend presents a challenge for policymakers, as ultrawealthy New Yorkers contribute nearly half of all income tax revenue. The report highlights the widening gap between the rich and the rest of the city's residents.
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