Gov. Kathy Hochul last week proudly pooh-poohed Mayor Zohran Mamdani\u2019s \u201ctax the rich\u201d crusade \u2014 apparently betting that no one will recall the hikes she\u2019s signed on to before, nor the ones she\u2019ll likely support if she can just win one more election. <\/p>\n
New York \u201cshould not be raising taxes on high-net-worth individuals\u201d or \u201craising taxes on the companies that are creating the jobs and generating the revenue that helps us pay for the services\u201d residents rely on, the gov preened on \u201cGood Day New York.\u201d<\/a><\/p>\n Huh? She\u2019s hiked one tax or another every year she\u2019s been in the Governor\u2019s Mansion.<\/p>\n She first proposed<\/a> and then imposed the new pied-\u00e0-terre tax to help Mamdani tax the rich, and it\u2019s already having the very sinking economic impact<\/a> she claims to fear.<\/p>\n The budget she recently pushed through hiked taxes on businesses by decoupling the state code<\/a> from how federal law treats R&D costs.<\/p>\n In her five years as governor, she has twice extended the corporate franchise tax on firms earning more than $5 million.<\/p>\n \t\t\tMore From\t\t\t\t\t\t\tPost Editorial Board<\/p>\n In 2023, Hochul raised the MTA payroll mobility tax on businesses.<\/p>\n In 2024, she implemented the much-hated congestion-pricing tolls that tax vehicles entering Manhattan south of Central Park, a bane on businesses in the zone.<\/p>\n