Communist Mamdani going to squeeze the wealthy

Mamdani Plans To Raise Property Taxes In NYC By 10% As Part Of ‘Affordability’ Push

Communists believe in the elimination of wealth inequality, ensuring resources are distributed based on need

Which in this case is the mismanaged city of New York.

New York City Mayor Zohran Mamdani (D) said Tuesday that he is prepared to raise city property taxes by nearly 10% if New York Gov. Kathy Hochul (D) and state lawmakers refuse to increase taxes on corporations and high-income earners.

Mamdani released his preliminary fiscal year 2027 budget proposal outlining how he intends to close a projected $5.4 billion deficit. The mayor described a property tax increase as a “last resort” but made clear it remains on the table if Albany does not act.

“Today, I’m releasing the City’s preliminary budget. After years of fiscal mismanagement, we’re staring at a $5.4 billion budget gap — and two paths. One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between our city and state. The other, a last resort: balance the budget on the backs of working people using the only tools at the City’s disposal,” Mamdani wrote Tuesday on X.

“This is not a conversation on the basis of ideology." This is a conversation about a fiscal crisis. I have long believed in the importance of taxing the rich. I’ve said so publicly many a time, and I’ve long believed in the need for the state and the city’s relationship to be a fair one.

What we are speaking about in this moment, however, is not just that long-standing belief, the long-standing issues that have characterized that relationship, but a generational fiscal crisis of $5.4 billion,” the mayor said. (It's the other guy's fault!!)

He added: “And when faced with this crisis, the question is: who should pay these taxes? I believe that it should be the wealthiest New Yorkers, the most profitable corporations."

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