{"id":144398,"date":"2026-02-25T01:19:08","date_gmt":"2026-02-25T01:19:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/144398\/"},"modified":"2026-02-25T01:19:08","modified_gmt":"2026-02-25T01:19:08","slug":"mamdani-hiding-that-he-wants-nyc-to-have-top-tax-rate-in-the-world","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/144398\/","title":{"rendered":"Mamdani hiding that he wants NYC to have top tax rate in the world"},"content":{"rendered":"

Zohran Mamdani\u2019s socialist pals<\/a> wrap their proposals in the most innocuous language possible.<\/p>\n

So when activists rally in Albany on Wednesday to pressure lawmakers to raise taxes<\/a>, the Democratic Socialists of America claim the bill it backs would \u201ccreate new brackets starting at $1 million\u201d so that \u201cthey pay a slightly higher share in taxes.\u201d<\/p>\n

Sounds fair. It\u2019s also a lie.<\/p>\n

Sponsored by Assemblyman Demond Meeks and State Sen. Robert Jackson, the tax increases actually start at half that.<\/p>\n

For individual incomes over $450,000, and joint incomes over $500,000, the state tax rate would be raised by a point to 7.5%.<\/p>\n

And then there are two other tax rate increases under the $1 million income level.<\/p>\n

Why can\u2019t the Mamdani tell the truth? <\/p>\n

Because there are a lot more couples making $500,000 a year in New York City than there are millionaires, particularly on Wall Street, and they don\u2019t feel particularly rich in Manhattan. <\/p>\n

Best not give away the game.<\/p>\n

Remember, too, that this is a\u00a0state\u00a0tax bill that the DSA wants to pass. <\/p>\n

This doesn\u2019t even include the\u00a0city\u00a0tax increases that Mamdani wants.<\/p>\n

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New Yorkers already pay among the most taxes in the country. <\/p>\n

If these bills pass<\/a>, we\u2019re not talking America anymore \u2014 we\u2019ll have the highest marginal tax burden in the\u00a0world.<\/p>\n

That\u2019s because this state bill would also raise the top tax rate for those making more than $20 million from 10.9% to a whopping 24%. <\/p>\n

Between federal, state and city taxes, that means the marginal tax rate would be 65% \u2014 putting even places like France to shame.<\/p>\n

Pity the poor person making over $20 million, you say. <\/p>\n

But do you really think they will bother to stick around in New York City? <\/p>\n

And once they go, there goes the budget.<\/p>\n

The question, meanwhile, for voters: If Mamdani\u2019s party is lying about \u201conly tax millionaires,\u201d what else are they lying about?<\/p>\n","protected":false},"excerpt":{"rendered":"Zohran Mamdani\u2019s socialist pals wrap their proposals in the most innocuous language possible. So when activists rally in…\n","protected":false},"author":2,"featured_media":144399,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[304,9,24,55,54,56,299,2780,82],"class_list":{"0":"post-144398","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-editorial","9":"tag-new-york","10":"tag-new-york-city","11":"tag-new-york-city-headlines","12":"tag-new-york-city-news","13":"tag-ny","14":"tag-opinion","15":"tag-taxes","16":"tag-zohran-mamdani"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/144398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=144398"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/144398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/144399"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=144398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=144398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=144398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}