Mayor Bloomberg provoked anger when he recently attributed much of New York’s rising income gap to the many rich people who have found the city an attractive place to live.As it turns out, he's correct.
Since Mr. Bloomberg was elected mayor 12 years ago, the % of poor people, as defined by the federal government, has increased by roughly 6%, while New Yorkers earning more than $1 million annually has almost doubled. And nearly 18 percent of all city personal income taxes were collected from its 1,200 richest citizens.
