It turns out you DO need NYC millionaires – Latest News
For all of Mayor Zohran Mamdani’s “we don’t need millionaires” discuss — it turns out, he does.
Wall Street bonuses hit a file $49.2 billion in 2025, up 9%, stories state Comptroller Thomas DiNapoli.
That means an further $199 million in state income tax income and $91 million more for metropolis coffers.
Great information … besides Mamdani’s ginormous $127 billion spending plan projected these bonuses to be up 15.1%, not a mere 9%.
The mayor’s not alone: Gov. Kathy Hochul’s govt finances wildly assumed they’d grow 25.9%.
But Hochul at the least isn’t commonly trash-talking “the rich,” nor dashing to bleed them additional whereas shrugging on the thought that they could skate off to pleasant climes.
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As DiNapoli instructed The Post, “When Wall Street does well, it’s good for our state and city budgets, which are reliant on the industry’s significant tax contributions.”
If he had even checked out his own finances (past the elements that show his spending goals), Mamdani would know that.
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Then again, his fundamental use of the finances up to now is as leverage to get tax hikes — on “the rich,” if attainable, or anybody else if that fails — to fund that “vision.”
He’s sure not trying to cut prices; he’s too busy setting up a taxpayer-funded re-election staff.
The nonstop struggle on high-earners is central to his image; he doesn’t care that they already cowl a large chunk of town’s payments, and doesn’t need to hear about how his plans may kill the golden goose.
Wall Street simply had a banner 12 months, however nonetheless coughed up much less in taxes than Hizzoner directed; he simply sees that as purpose to hit the high earners tougher.
Thing is, “the beatings will continue until morale improves” is an epically silly method when the oldsters you’re whipping can merely transfer out of attain.
