Tax Man

He's got a plan:

According to a housing policy memo on Mamdani’s website, he has pledged to “shift the tax burden from overtaxed homeowners in the outer boroughs to more expensive homes in richer and whiter neighborhoods.” It’s amazing that a mayoral candidate can say this out loud with little backlash — at least from his own party, which claims to revile racism. The plan is part of his overall strategy to supposedly make it less expensive to live in the Big Apple. He plans to “triple the City’s production of permanently affordable, union-built, rent-stabilized homes – constructing 200,000 new units over the next 10 years.” And how does he plan to do this? By taxing the hell out of wealthy “whiter” residents. “Our tax base is stable and growing, with new millionaires minted every year. But New York City taxes everyone at the same rate, regardless of whether you make $50,000 a year or $5 million,” another Mamdani memo states. “And our state corporate tax rate is lower than all our neighboring states—New Jersey, Connecticut, Massachusetts, Pennsylvania, Vermont, Rhode Island, and even New Hampshire.”

They like keeping their money...