Hedge Funds
Earlier this week, new figures on income and taxes from the Independent Budget Office showed a big increase in the amounts needed to be a proud member of the Top 1% or even the Top 10%. But those figures also showed that the percent of income attributed to the top 1% declined in 2015 and 2016 by almost five percentage points. Nationally, there was a very small tick downward. Could this mean the richest New Yorkers are moving elsewhere? No, but it might mean that the hedge fund business wasn’t very lucrative in those years – and probably not since.

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