Many Black, middle-class NYC property owners say they\u2019d be among the biggest victims of the Democratic Socialists of America\u2019s proposed tax hikes.<\/p>\n
Some told The Post the DSA\u2019s Marxist measures \u2014 which include higher taxes for individuals making over $300,000, and taxing inheritances over $250,000 \u2014 would hurt New Yorkers like themselves who spent decades building up retirement accounts, paying off homes, and planning their estates to benefit their loved ones<\/p>\n
\u201cThe reason you invest is to acquire wealth with the hopes of putting it towards your legacy, for your family \u2014 and this will greatly affect my family,\u201d said mother-of-three Lorraine Smith-Singleton, 77, of Jamaica, Queens.<\/p>\n
Many Black, middle-class NYC property owners like Lorraine Smith-Singleton said they\u2019d be among the biggest victims of the Democratic Socialists of America\u2019s proposed tax hikes. Courtesy of Lorraine Smith-Singleton<\/p>\n
The senior said she didn\u2019t vote for socialist Mayor Mamdani but supports his \u201cmillionaire tax\u201d plan.\u00a0<\/p>\n
However, she believes the DSA\u2019s other measures unfairly target people in lower tax brackets.<\/p>\n
\u201cI favor taxing the rich \u2014 the super-rich, but I\u2019m not in favor of taxing middle-class working people,\u201d said the retired registered nurse. \u201cI own two properties, and I intend to give whatever\u2019s left to my children, not the government.\u201d<\/p>\n
The Democratic Socialist of America\u2019s tax-heavy platform include more taxes for individuals making more than $300,000 and taxing inheritances over $250,000. Cindy Schultz for NY Post<\/p>\n
\u201cIt doesn\u2019t matter if you\u2019re black, white, yellow, green, or purple! it doesn\u2019t matter!\u201d she added. \u201dIf you fall into a certain category, your family is gonna be affected, and it is so unfair.<\/p>\n
\u201cWe already pay more taxes now than what we should be. Everything is sky high.\u201d<\/p>\n
The DSA tax plan \u201cfeels un-Democratic,\u201d and will only widen the gap between the wealthy and middle-class in NYC, said James Chavis, a 58-year-old consultant who owns property in Laurelton, Queens.<\/p>\n
Mayor Zohran Mamdani is trying to drum up state support to increase taxes by 2% for New Yorkers earning over $1 million a year but has not weighed in on some other DSA proposals that critics say target the middle-class. Luiz C. Ribeiro for NY Post<\/p>\n
\u201cAs an African-American homeowner, I think it\u2019s extremely unfair to most middle- and upper-middle-class New Yorkers to raise taxes, especially when incomes are not increasing in our current economic environment,\u201d he said.<\/p>\n
\u201dThe super-rich manage to skirt the tax by whatever means, and the middle-class continually carries the burden. It\u2019s the reason that so many have chosen to leave the State of New York and New York City.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Many Black, middle-class NYC property owners say they\u2019d be among the biggest victims of the Democratic Socialists of…\n","protected":false},"author":2,"featured_media":156451,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[23992,1091,64594,57,10167,9,24,55,54,56,87,8812,2780,58,82],"class_list":["post-156450","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-black","tag-democratic-socialists-of-america","tag-inheritance","tag-metro","tag-middle-class","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-politics","tag-property","tag-taxes","tag-us-news","tag-zohran-mamdani"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/156450","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=156450"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/156450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/156451"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=156450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=156450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=156450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}