NYC Millionaire Andrew Tobias: Raise My Taxes, Send a Fruit Basket

Critics of the plan say higher taxes would drive wealthy residents to lower-tax states like Florida or Texas, eroding the tax base. Tobias counters that the risk is overstated. He points to data showing New York's wealthy population has remained stable through previous tax increases.

The fruit basket request is part joke, part serious. Tobias wants the state to acknowledge the sacrifice with a small token, making the transaction feel less like a penalty and more like a civic contribution. He suggested a $25 basket of apples and oranges, delivered annually.

New York's current top marginal income tax rate is 10.9% on income over $25 million. The "Tax Me More" group wants to raise that to 14.8% on income over $10 million. The state legislature has not taken up the proposal in the current session.

Tobias, who wrote the bestseller "The Only Investment Guide You'll Ever Need," said he would pay the higher rate without complaint. The fruit basket, he said, would just be a nice touch.