This is how you do it when you’re serious about achieving what you promise for your constituents. Use your tools as needed, demand cooperation, when you don’t get it, use your tools as leverage. Even if you fail, people see you did what you could and then they’re ready to punish whoever stood in your way at the ballot box. This is why the oligarch class is so afraid of Mamdani who’s just a mayor.
I’m a NYC resident, and I pay property taxes. If this is the stick that will (hopefully) get us the carrot of a wealth tax, I’m all for it. If property taxes end up going up, and we can use it to make the city better with the services Mamdani wants to get going, well then let’s go. I will figure out how to pay the additional taxes somehow. With that said, let this be a bargaining chip. Working with the rest of NYC’s political class is like a bunch of toddlers. The best thing you can do is give them two options, one you want (which they won’t like) and one you don’t want (which they really won’t like). And make them pick. So they feel like they have agency, it’s their decision, don’tchaknow?
No, in a market like NYC rents are already the maximum that the market can bear, and a lower percentage of property prices than elsewhere. Landlords in fact will eat at least part of the increased taxes because the only other option is to not rent the property. That’s exactly why they’re so upset about it.
Landlords don’t have any money other than rent. This is a tax on tenants with extra steps
The landlords that this is targeted against are not the slightly rich guy who owns an apartment building, it’s people like Citadel LLC who has nearly $70 Billion dollars of assets under management, a large portion of which are rental properties.
Those landlords have the money to pay the taxes. They own much more expensive properties, many of which are held empty and are limited in how much they can raise their prices indirectly, due to them already charging as much as the market will bear and also directly by Mamdani freezing rents.
In addition, many wealthy people in NYC own expensive housing (including Trump) that they use and do not rent.
This is how you do it when you’re serious about achieving what you promise for your constituents. Use your tools as needed, demand cooperation, when you don’t get it, use your tools as leverage. Even if you fail, people see you did what you could and then they’re ready to punish whoever stood in your way at the ballot box. This is why the oligarch class is so afraid of Mamdani who’s just a mayor.
I’m a NYC resident, and I pay property taxes. If this is the stick that will (hopefully) get us the carrot of a wealth tax, I’m all for it. If property taxes end up going up, and we can use it to make the city better with the services Mamdani wants to get going, well then let’s go. I will figure out how to pay the additional taxes somehow. With that said, let this be a bargaining chip. Working with the rest of NYC’s political class is like a bunch of toddlers. The best thing you can do is give them two options, one you want (which they won’t like) and one you don’t want (which they really won’t like). And make them pick. So they feel like they have agency, it’s their decision, don’tchaknow?
Uh doesn’t this just inflict pain on the middle class if it ends up passing?
Does the middle class own property in New York at all? I thought most just rent apartments.
NYC is 5 boroughs a lot of it is single family or 2 family housing.
I ask because l don’t know. From pictures, everything in NYC are buildings… I thought houses didn’t start until long island
It thins out as you get away from the center.
And you think land lords won’t pass increased property taxes on to their tenants?
I don’t live in NYC so I won’t give an opinion on this but landlords won’t just eat increased taxes.
No, in a market like NYC rents are already the maximum that the market can bear, and a lower percentage of property prices than elsewhere. Landlords in fact will eat at least part of the increased taxes because the only other option is to not rent the property. That’s exactly why they’re so upset about it.
Property taxes are paid by the renters. Landlords don’t have any money other than rent. This is a tax on tenants with extra steps
The landlords that this is targeted against are not the slightly rich guy who owns an apartment building, it’s people like Citadel LLC who has nearly $70 Billion dollars of assets under management, a large portion of which are rental properties.
Those landlords have the money to pay the taxes. They own much more expensive properties, many of which are held empty and are limited in how much they can raise their prices indirectly, due to them already charging as much as the market will bear and also directly by Mamdani freezing rents.
In addition, many wealthy people in NYC own expensive housing (including Trump) that they use and do not rent.
It’s a little bit misleading to refer to as any mayor of New York City as “just a mayor“.
It’s just a tiny little financial capitol of the world with a measley population of only 8.4 million people.
Barely as large as Austria
And what did Austria ever achieve???