Mamdani says if he can't tax New York's rich, property taxes will jump 10%. How do you image that will work out?

[Hagar88]

Mamdani will raise $4 billion for his social programmes

Landlords will raise rents by 10%

Tenants will be forced to pay 10% extra rent while getting welfare scraps from Mamdani's social programmes

All of the above

[Kaneki05]

Just make more laws around increasing rent and then they can't just do that.
Pretty sure it's that simple. The real complex part is if rich just move business to somewhere that don't do that which is easy to do with states not having same positions.
So you would need all states to follow the same example, therefore the only way to get around is move country. Which is more of a hassle and hurdle that many rich won't be bothered to do and just take the tax hit.

[Hagar88]

Then you open up a whole can of worms with evictions and property maintenance. Not to mention working class and middle couples trying to get on the propert market unable to afford their mortgage. They did this kind of stuff in california and it resulted people that had worked all their lives to buy a home losing their homes or defaulting on the mortgages and ending up on the street.

[Kaneki05]

Why would they want to evict it's better to make something than nothing? Plus you can make a law around that too. Pretty much anything that they could plan to do to get around it you can have a law around surely?
Also Tax properties more for being vacant?
There is all kinds of way to control though this, you still need the whole country to fallow suit though.

[Kaneki05]

through this*

[Hagar88]

Sounds fascist. Tax people for working all their lives to build something and force them out so big property tycoons can take over? Funnel the wealth up to the 1% and keep people poor but its ok because social programmes like tampons in the boy's bathroom are free.

[Kaneki05]

It's not fascist it's common sense to tax the rich and limit powers of the elites, otherwise nothing would function as it does today.
If you want a society without such well you'd find out pretty quickly whom that benefits as the rich can afford their own servants to do all the tasks government provides while the poor can't.
Feudalism would come back.

[Hagar88]

But they aren't taxing the rich. They are taxing hard working middle and working class people that worked hard and saved to buy themselves a home. Its modern feudalism where you are extorted by the lord's in city hall

[Kaneki05]

Landlords are rich if you have two or more houses so you can rent one out and live in the other that's rich. Someone who's not rich and is working class can barley afford one house in this market nvm having two.

[Hagar88]

They are wealthy not rich, and often have one or two houses. Im a landlord, I pass any propert taxes on to tenants. But like I said its tenants and single home owners that bear the cost which is why there is a huge rise in homes being repossesd

[Kaneki05]

Exactly which is why there needs to be a law to stop you doing that therefore the issue resolves.
Well rich or wealthy don't mean much difference to me both should be stopped from abusing their power.

[Hagar88]

Nothing stopping people from buying g or building their own homes. Some of the people i rent to make more money than I do from my 9-5.

[Kaneki05]

Oh yeah why didn't I think of that I'll just go buy one cause they're so cheap or build it myself. There's a reason nobody is buying a house themselves cause they can't afford it otherwise they would having a mortgage is way better than paying rent so think why anyone wouldn't do that?

The government needs to make renting a nightmare so that people won't be greedy in having multiple homes to rent out, make it so selling it back to the government is a better ideal option for them. So then the government can rent it out for cheap and use that money towards other services that tax provides.
You would solve housing crisis pretty quick when ya don't have people trying to make money on having 2 or more to themselves.

[FunkyMonkee]

From what I understand, it CAN'T. Only the governor can raise taxes and she's NOT ABOUT to do that before an election and risk losing because she raised the taxes. I hear Mamdani's apparently got money out the ass!! Make HIM pay for all this free shit he wants to give out!!
If democrats wanna make EVERYTHING FREE, why don't they make taxes free, too?

[Hagar88]

What will happen is a lot of home owners who have retired or have a mortgage will end up losing their homes and the property gets gobbled up by big property companies. Seen this before where people who can't pay higher property taxes in places like california. Maybe thats the plan.

[Anonymous]

Less than a month and he already breaks one of his major campaign promises. We all knew this before he went in, but they did it anyway. The uneducated masses are killing this country.

[XXblack88]

All of the above and those who are rich/ middle class will move out just like they did in CA

[Hagar88]

People as well lost their homes in CA. Couldn't pay the property taxes and the bank took their homes. But the california Exodus is shocking.

[XXblack88]

Regardless NY is heading in that same direction

[Hagar88]

For sure

[Likes2drive]

There’s no way he can keep any of his promises, and if he starts taxing more people through property, they’re gonna realize how stupid they were voting for him , smart people knew that he can’t do what he said he’s going to do so unfortunately we have a lot of people that wanted free stuff or not educated enough to realize that what he promised he can’t do

[exitseven]

The State legislature does not seem to want to bail him out. If he raises property taxes even more people will flee than are already going. The only people left wil be the welfare class. The good thing is that America gets to see Communism close up and personal. There will be a big snowstorm on Sunday and Monday. New York City could get up to 2 feet of snow. The roads have not been plowed since the last storm. This is Communism at work.

[Cidknee]

There is a monetary amount where taxing ends and armed robbery begins.

[Hagar88]

Legal theft. Its definitely armed robbery when they send the police and repo men to seize your home or property when you can't pay obscene property taxes.

[Cidknee]

Precisely!

[jshm2]

It should work out fine. Seeing as most New York prime property is empty for tax breaks anyway. So they lose nothing, and the public wins twice.

[Hagar88]

New york tenants having their rent rise by 10% doesn't work out well for them.

[darkcloud1945]

Like all communists, he has forgotten to engage his brain before putting his mouth in gear, and to keep his wife's mouth shut, she just parrots him, and one idiot spouting bullshit is enough

[strateguy632]

2nd.