Well duh! Anyone with a real education knows socialism fails and has every time it’s been tried. Mamdani standing at a podium still talking smack about spending others’ money is getting old fast. Mamdani’s day of reckoning is coming soon, and he may very well take down Gov. Hochul as well as she bends the knee to this Islamic version of Obama.
We are in the fight of our lives as moderate Democrats have no power whatsoever in the new socialist party fully supported by Jeffries and Schumer. It’s a numbers game for the left, not an agenda of helping people but controlling everything they do and say.
I actually feel sorry for the long-term real Democrats who let the power slip through their fingers while trying to ensure power forever, and Americans won’t have that. We sleep a lot, but when we wake up, we do so with a roar. All IMO.
“New York’s share of US millionaires dramatically declined in recent years, causing a nearly $11 billion loss in much-needed tax revenue in just one year, according to a bombshell new analysis.
The study released Monday by the Citizen Budget Commisison comes amid fears that socialist Mayor Zohran Mamdani’s push to “tax the rich” will drive even more wealthy taxpayers and their businesses out of New York City.
Even before Mamdani took office, the Empire State’s share of the nation’s millionaires dipped from 12.7% to 8.7% between 2010 and 2022 – the largest decline of any state, according to the CBC’s Competitive NYS: Value Proposition Tracker dashboard.
“New York’s declining share of high-income taxpayers has meaningful consequences,” the analysis states.
“Had New York maintained its share of the nation’s millionaires over the past decade, personal income tax collections would have been substantially higher – roughly $10.7 billion more in tax year 2022.”
Many experts and business leaders warned Mamdani’s stick-it-to-the-rich policy dreams – and their growing success among Albany lawmakers – could supercharge the drip-drip of wealthy people.
Gov. Kathy Hochul has firmly opposed an outright hike on the wealthy this year — as she seeks re-election in November — but backed a so-called pied-à-terre tax on luxury second homes in New York City.
Mamdani gleefully gloated about the tax in a social media video filmed outside billionaire Ken Griffin’s $238 million Manhattan penthouse – a stunt that infuriated the hedge fund titan and prompted him to threaten pulling a $6 billion Park Avenue development.
The feud fueled fears of a wider exodus from New York, where the Big Apple’s and the state’s bloated budgets are increasingly dependent on a shrinking sliver of taxpayers.”