Number of millionaires in NY rebounded in 2010

April 12, 2013. In an Ithaca Journal story by Joe Spector, he reports that the number of New York millionaires is increasing again.

The number of millionaires in New York bounced back in 2010 after falling off in 2009, state records show.

The number of millionaires in New York reached nearly 33,000 in 2010, up 19 percent compared to 2009. Overall, the number of people with taxable incomes above $200,000 returned to the level in 2008, a review of records from the state Department of Taxation and Finance by Gannett’s Albany Bureau showed.

“The long-term trend has been to greater income inequality, more growth at the top,” said Frank Mauro, executive director of the Fiscal Policy Institute, a labor-backed think tank near Albany.

Filed in: FPI in the News