this post was submitted on 26 Jun 2025
881 points (99.4% liked)
Political Humor
1255 readers
105 users here now
Welcome to Political Humor!
Rules:
- Be excellent to each other.
- No harassment.
- No sexism, racism or bigotry.
- All arguments should be made in good faith.
- No misinformation. Be prepared to back up your factual claims with evidence.
- All posts should relate to politics and be of a humorous nature.
- No bots, spam or self-promotion.
- If you want to run a bot, ask first.
- Site wide rules apply.
- Have fun.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
as a non-american looking from outside, if NYC already taxed the rich for a lot, then to me the next sensible logical thing for the mayor to do is manage the apparently already lots of money to better use and making his platform come true. to me whatever NYC is doing that sounds like mismanagement of tax funds
I suspect a lot of NYCs liabilities are in strong union-negotiated pensions for retired police, transit, sanitation workers. Hard to get out from under those without really hurting people. The difficulty with taxing rich people is that they can easily change their tax residency to just outside NYC where plenty of counties will give them a big break on income taxes.
Mamdani's proposal is to raise taxes on any company doing business in NYC. They wouldn't be able to just change residency, they'd have to stop doing business in New York entirely.
NYC has a city income tax that's hard to avoid if you're doing well and easy to avoid if you're not.
Thanks for the context.