Gov. Kathy Hochul last week proudly pooh-poohed Mayor Zohran Mamdani’s “tax the rich” crusade — apparently betting that no one will recall the hikes she’s signed on to befor…
Gov. Kathy Hochul told Good Day New York host Rosanna Scotto that she's against the"tax the rich" crusade of Mayor Zohran Mamdani and his socialist comrades -- even though she did push through a new tax on luxury second homes in the city.
Gov. Kathy Hochul last week proudly pooh-poohed Mayor Zohran Mamdani’s “tax the rich” crusade — apparently betting that no one will recall the hikes she’s signed on to before, nor the ones she’ll likely support if she can just win one more election.
New York “should not be raising taxes on high-net-worth individuals” or “raising taxes on the companies that are creating the jobs and generating the revenue that helps us pay for the services” residents rely on, the govand then imposed the new pied-à-terre tax to help Mamdani tax the rich, and it’s already having the veryIn her five years as governor, she has twice extended the corporate franchise tax on firms earning more than $5 million. In 2024, she implemented the much-hated congestion-pricing tolls that tax vehicles entering Manhattan south of Central Park, a bane on businesses in the zone.
And of course as No. 2 to then-Gov. Andrew Cuomo, she was a loyal supporter of his 2021 income-tax hike — New York’s— which permanently elevated the 8.82% bracket to 9.65%, and imposed rates of 10.3% on filers earning more than $5 million and 10.9% on taxpayers earning over $25 million.
Meanwhile, state spending has soared on Hochul’s watch, leaving ginormous budget gaps starting next year that the Legislature will surely want to close via tax hikes. And the gov won’t need to raise any more campaign funds ever after this November, so why would she resist? Kathy Hochul clearly knows how badly high taxes hurt New York, but it hasn’t stopped her before and it won’t stop her ever again.
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