MARK PENN: Socialist Mamdani sold a tax on billionaires. Regulars homeowners could pay the price
It sounded simple and even kind of warmly populist in nature — a small tax on "pied-à-terre" properties in New York City. But the more you dig into it, as with all things from Mayor Zohran Mamdani, the more you see it as part of a far more devious plan that could destabilize the New York City housing market and cost middle-class people their homes and savings.Gotta love whoever pulled this French name into implying the tax would just fall on a few very rich people — no more than 31,000.
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It sounded simple and even kind of warmly populist in nature — a small tax on "pied-à-terre" properties in New York City. But the more you dig into it, as with all things from Mayor Zohran Mamdani, the more you see it as part of a far more devious plan that could destabilize the New York City housing market and cost middle-class people their homes and savings.Gotta love whoever pulled this French name into implying the tax would just fall on a few very rich people — no more than 31,000. That was pure deception.Think about it for a moment: Why tax nonresident property owners? Because they don’t vote in the city.
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Why it matters
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- What's the story?
- It sounded simple and even kind of warmly populist in nature — a small tax on "pied-à-terre" properties in New York City. But the more you dig into it, as with all things from Mayor Zohran Mamdani, the more you see it as part of a far more devious plan that could destabilize the New York City housing market and cost middle-class people their homes and savings.Gotta love whoever pulled this French name into implying the tax would just fall on a few very rich people — no more than 31,000.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 16m ago.
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MARK PENN: Socialist Mamdani sold a tax on billionaires. Regulars homeowners could pay the price
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