IT BEGINS: Zohran Mamdani Announces Plans to ‘Tax the Wealthy’ to Compensate for NYC Budget Deficit
Well that was fast.
Zohran Mamdani has been mayor of New York City for less than a month and he is already talking about raising taxes on the ‘wealthy’ to make up the city’s budget deficit, which he claims is on par with the Great Recession.
Get ready to see a lot of Uhauls leaving the city.
CNBC reports:
New York Mayor Mamdani says city must hike taxes on wealthy to fill $12 billion deficit
New York City Mayor Zohran Mamdani on Wednesday said the city’s wealthiest must pay more in taxes to help fill the staggering budget deficit of more than $12 billion that he was left by his predecessor.
“This is at a scale that’s actually greater than what we saw here in New York City during the Great Recession,” Mamdani said of that budget hole during an interview with CNBC “Squawk Box” co-anchor Andrew Ross Sorkin at City Hall.