Loading ...Communist Mamdani’s Latest Redistribution Scheme: Tax On All New York Homes Over $1 Million Bought With Cash
“New Yorkers are already the most heavily taxed residents in the country, and the city’s budget issues will not be solved by more taxes”
However, since communists who are not redistributing wealth (eventually under the barrel of a gun) are useless communists, it only took Mamdani administration 48 hours before pitching his latest idea how to take: according to Bloomberg, New York lawmakers are planning a new tax on New York City homes purchased in cash for at least $1 million. The lawmakers are also considering expanding the tax to all-cash purchases over $1 million in New York, including those in the suburbs and upstate.
The New York City levy alone is expected to raise $160 million to help fill the city’s budget hole. The proposed tax would be levied at 1% of the purchase price and would be paid by the buyer, according to the people.