[twoodfin]

The wealthy in NYC pay the top Federal 23.8% LTCG rate, + the top New York State income tax rate (10.9%) + the NYC income tax rate (3.876%) on their long-term capital gains.

[kube-system]

Not if their second home in NYC is not their primary residence .... and like bezos, has a primary residence in a state where that isn't the case