Zohran Mamdani and his tax the rich agenda - The Kekistani Assembly of Experts

When I saw Mamdani's recent commercial about his pied-a-terre tax plan citing Ken Griffin, I couldn't believe his arrogance and stupidity. This commercial, with him tapping his finger on the glass was way out of line.

https://www.youtube.com/watch?v=FLKZnVB4F9k

He's going to pay a heavy price for his lack of judgment. Where does he think most of the tax revenue comes from? He even singled out Ken Griffin and pointed out his home in NYC, potentially putting a target on his back. His home isn't too far from where the United Healthcare CEO was shot. He wanted to shame him for being rich.

After that commercial, every rich person in NYC got the message that they're not safe from the tax grab Mamdani wants to do.

Anyone with two brain cells who has vague awareness of the news cycle is well familiar with Mandami. It's totally obvious to anyone what his deal is. Focus lower class hatred on the rich, drive the rich out, then ruin everything because the tax base gets gutted. Basically turn Manhattan into Cuba economically.

I watched his video weeks ago and dismissed it. It gets a plethora of fawning praise from socialists and lefties. They think it's absolutely the right perfect strategy.

I think he doesn't expect the rich will leave because its NYC, business capital of the world. He's that arrogant to think the rich won't leave or build their businesses elsewhere like Ken Griffin is doing. Mamdani lost a $6B investment in the city and decided to expand in Miami because of his commercial.

His tax still has to be approved by the State Legislature. If its enacted, then comes the legal challenges from the rich. In the end, if they don't like it they'll leave. Really, the pied-a-terre tax is only the beginning of taxation. Of course the socialists like it. They think they're entitled to that money.

Let me play devil's advocate.

The rich haven't been driven out of NYC yet in significant numbers at least according to AI:

While New York experienced a notable exodus of high earners during the pandemic—with roughly 1,453 to 2,400+ millionaire taxpayers leaving in 2020-2021—the state and city actually saw a net gain of wealthy households overall, with a net increase of 17,500 millionaire households between 2020 and 2022, according to the Fiscal Policy Institute.
Key Details on New York Millionaire Migration:
Net Growth: Despite high-profile departures (like Carl Icahn) and fears of a "wealth tax" exodus, New York's total millionaire population grew, rather than shrank, as a booming economy minted new high-earners faster than they departed.
COVID-era Exodus: In 2020-2021, a significant number of high earners left the city, with reports indicating 300,000 top earners moved in 2020, and ~1,453 to ~2,400+ "millionaire" tax filers leaving in subsequent reports.
Migration Trends: Those leaving often moved to lower-tax states such as Florida, Texas, and Tennessee.
Tax Impact: A 2023 Fiscal Policy Institute report noted that in typical years, the top 1% leave at a lower rate (-0.2%) than the general population (-1.0%).
Current Status: Despite the churn, New York City remains home to over 400,000 millionaires, the highest concentration of any global city.

My guesses are

1) Mandami knows exactly what the risks are and they aren't great.

2) Many/most of the wealthy are libs themselves and love the aroma of socialism mixed with NYC alley way sour milk stench.

3) The pied-a-terre tax is basically just creeping up the thermostat of the pot of simmering frogs.

I think we're going to have to learn to live with Mandami's shit eating fatuous grin.

Unfortunately, the libs are going to take away the premise that high taxation rates are a net good with no downsides based on NYC's record.

A lot of the wealthy can move themselves or their businesses out of NYC.

The "2nd home luxury tax" is stupid and redundant. Suppose someone owns a $200M second home in NYC that's vacant most of the year. How much are they paying in property tax on that $200M? It's still more than the city is spending providing them services for police/fire/etc.

How do your property taxes work? It's not clear to me whether they're similar to our council rates.

Rates are charged by local councils (a local government created by the state government) based on the value of the land. The land value is assessed by the state Valuer General. The rating of the land depends on the council revenue plan for the upcoming year and also the zoning of the land. The zoning is one of residential, business, farming, mining. There are rules limiting how much the rates can be increased, and allowing you to appeal the official value of your land, etc etc.

I don't know the exact formula. It's very complicated. I read that the $200M penthouse actually has an assessed value of only $10M for property tax purposes, due to a quirk in the law. It's still paying more in property taxes than any city services it would be using.

The assessed value on some those expensive properties seems very low for a property worth $200M. I can't imagine how they came up with that valuation.

The rich are still there now, but the writing is on the wall. Mamdami is going to tax the hell out of them over the next four years if they stay. He has to tax a lot of rich people to fill the $2B+ budget gap for NYC and afford his utopian agenda.

Mamdami should lose the shit-eating grin on his face. Its insulting. The rich pay the bulk of the taxes in NYC already.

Wouldn't you have a shit-eating grin if you knew that members of your religion and tribe were going to take over the USA and genocide everyone else? Almost all of the people Mamdani appointed as advisors earning a big salary are Muslims. If he gets White people to flee NYC as Muslims take over, even better.

That's a good point, FSK. Its all part of their Caliphate plan. I'm sure he'd love to get rid of the white people if he could but then who would he tax? He needs money to fund his "free" stuff. After 9/11, I can't believe NYC elected a Shia Muslim as mayor. It just doesn't seem right.

He doesn't care about "free stuff". He just says that so the commies/libtards vote for him. Once NYC gets to a 50%+ Muslim population, there will be an all Muslim government without having to pander to commies and homos anymore.

Maybe he doesn't care about the free stuff, but the people that elected him do. If he can't deliver he won't be re-elected. He almost has his pied-a-terre tax on the rich, which is expected to bring in $500M, but that's nothing if you have a $2B budget deficit to make up before you fund any new "free" programs.

They actually "found" a way to raise $5B for Mamdani's giveaways. They're going to raid the pension fund to get $5B.

I'm sure he's in for a fight with that one! His budget isn't approved yet. This is what AI says has to happen.

"As of May 14, 2026, Mayor Zohran Mamdani’s proposed fiscal year 2027 budget has not yet been approved by the New York City Council.

While the administration claims to have closed the $12 billion deficit inherited from the previous administration, the proposal remains contingent on several approvals and negotiations:

City Council Approval: The budget must be ratified by the City Council before the June 30 deadline to take effect.

State Authorization: The plan relies heavily on $4 billion in support from the state of New York, including authorization to delay pension payments and classroom size mandates, which require state approval.

Pension Fund Consent: The restructuring of unfunded pension liabilities requires approval from the boards of trustees for the city’s public employee pension systems.

Budget watchdogs have scrutinized the plan for relying on short-term measures, such as delaying payments and state aid, rather than long-term structural fixes. "

He has some hurdles because of the sacred pension fund money.

If I wanted to read AI slop, I would stick to Reddit, Twitter, and work.

My whole point with the AI slop is its not a done deal. Any funds Mamdani tries to touch that affect public pensions will be difficult to get approved. I'll never understand why public employees need to have their own separate pension system. Its unaffordable. Most private sector companies no longer offer pensions because of that.

My brother-in-law worked on the line at GM prior to 2007 for many years and received a generous pension he still gets today. They reduced his benefit several times over the years, because the company couldn't afford it. GM no longer offers pensions to employees hired after 2007, but they're still responsible for employees hired before that.

It'll be interesting to see if he gets the money. He has to have a budget, but I'm sure he won't get everything he wants.

The reason you "need" public sector pensions is those jobs already pay below-market. There's also a sense that, if you work in government for a few years, now your skills are gone and it'll be hard to get a private sector job. To make up for that, they have pensions.

It would make more sense to pay people salaries more in line with the public sector and skip the pensions. It creates mountains of debt that taxpayers have to pay.

Public employees have job security, something the private sector doesn't offer. They could have a job for life if they want it. Also, if you want more of a work/life balance, the public sector provides that.

The reason you "need" public sector pensions is those jobs already pay below-market.

That made me laugh. Our public sector is now paid much more than the private sector. It used to be the other way around: public sector gets perks and job security in return for lower pay, private sector gets higher pay and no perks.

But then about 40 years ago the commonwealth government introduced an independent remuneration tribunal. The pollies fought this because they thought their payrises would be less than before. The old system was that they voted themselves payrises, which for obvious political reasons they were reluctant to do too often or too much. The new tribunal would determine their pay for them.

But what happened?! The tribunal has been giving generous payrises to all public sector employees ever since. As a result, private sector serfs have fallen far behind. Needless to say, the state governments have remuneration tribunals too.

Looking back now, I suspect the public wailing by the pollies in the lead up to the introduction of the tribunal was kabuki theatre.

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Zohran Mamdani and his tax the rich agenda (Public Board)

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NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed

NYC has always been super highly taxed