Socialist New York Mayor Zohran Mamdani announced a tax on the super-rich who own luxury homes, so-called pied-à-terres, over $5 million, but do not use them as their primary residence.
“This tax is specifically designed for the richest of the richest, those who get rich in New York City, but don’t actually live here. This is a fundamentally unfair system that hurts working New Yorkers. This tax will raise at least $500 million for the city and help fund things like free childcare, cleaner streets, and safer neighborhoods. As mayor, I believe everyone has a role to play in contributing to our city. And some, a little more than others. Happy Tax Day, New York!” Mamdani said in a video posted on X.
The tax on the super-rich was part of the campaign promises that led to his victory last November, as was another measure announced in recent days: the establishment of municipally owned, affordable grocery stores in each of the city’s five boroughs to address the rising cost of living. The first one will open next year.
“We are building a city where people can afford to meet their basic needs and pursue their dreams. New York belongs to everyone who lives here, not just a privileged elite. And if we can do it here, surely it can be done elsewhere,” Mamdani stated on his X profile.
His statements aren’t limited to local politics, but connect to broader foreign policy issues: “We’re spending at least $500 million a day bombing Iran. How many teachers could we hire, how many public housing units could we build, how many bridges and roads could we repair, if we spent that kind of money improving the lives of working people?” asked the young mayor of New York.
