"‘Today, after three more months of painstaking work, I am proud to announce that we have closed the gap entirely down to zero. It has not been easy, but we have balanced the budget, and we have done so without placing the burden on the backs of working New Yorkers,’ Mamdani said.
That remaining $5.4 billion has been filled with $4 billion in aid from Albany and $1.77 billion in savings, mostly through efficiencies and not filling vacant positions. Mamdani said he wouldn’t tap into the city’s “rainy day fund” to balance the budget."
Ladies and gentlemen, vote for democratic socialism. It’s the fiscally responsible choice.
But how do I fiscally responsibly violate the human rights of minorities?
It’s okay to waste money on the important things /s
Well now I’m getting conflicting messages. I’m gonna have to do my own untrained research on this with my friend Grok. We’ll figure out whats what.
So all those fiscal conservatives should like him now, right? …right?
Hahaha… No they never actually had principles only racism and hate.
Well, his skin isn’t the right color. So they’re not having any of what he’s selling.
For getting a big pile of money from the state and deferring contributions to city pensions?
Yep, not taxing billionaires afterall
Read the article before telling others what’s in it, or not in it.
I did. He did not tax billionaires as he promised
…yes?
I’m not speaking from knowing any insider info. I’m purely speculating when I say this, yet I’m 100% certain I’m right.
I bet it was easy to do that after decades, if not centuries of corrupt officials in NYC politics hiding corrupt money EVERYWHERE!!!
He probably just came in, and said something like “Wait, why is our water plant being funded for 400k, but this random child day care is being funded for 12 million dollars???”
He probably just came in, cut the obvious corruption, and then suddenly the budget had the funds to do the things it was meant to do.
it’s slightly more complicated than this because actually (source: i dunno half remembered article a few months ago) the city was paying a bunch of consulting money for dumb mbas to say dumb mba catch phrases, and third party business owners to provide public services taking a cut of the money as profit for no purpose from a budget perspective, to which he said “why? no”
I feel like you just said the same thing I did, but with more specifics.
And less Nick Shirley hyperbole
I don’t know who that is. I’m not actually from NY. I just cheer on mamdani from Ohio.
Nick Shirley is a right wing agitator. His claim to fame was a viral video of him “exposing” child care centers in Minnesota committing millions of dollars worth of fraud. He was horribly wrong.
I remember this one.
https://www.vitalcitynyc.org/mamdani-nyc-vendors-contractors-staff/
Our stupid monkey brains want to believe simple stupid truths and not the complex and nuanced reality.
A more sincere theory is that the billionaires managed to convince state legislators to divert pension funds to NYC to avoid the tax hikes, and Mamdani has no control over the state budgets.
Alternative to CBS.
So… not taxing the rich after all…
Except for that tax on second homes that are mostly unoccupied like the $240M appartment.
Mamdani’s plan apparently worked, because even though the mayor didn’t get a request for increasing corporate taxes, he got Hochul to back a new pied-à-terre tax on luxury second homes that hopes to raise $500 million annually.
The proposal is already drawing sharp criticism from billionaires like Citadel CEO Ken Griffin.
And the tax on luxury property sales:
Sources in Albany say New York City asked for a new tax on cash sales of luxury apartments valued over $1 million, which is expected to raise $100 million annually. Sources in the state Legislature say approval of this tax is in play.
And also that tax credit:
The mayor also proposed raising $68 million by reducing a city business tax credit that overwhelmingly benefits millionaires.
So yeah… not taxing the rich. These people are only the top 2%, barely worth recognition by the real rich in the top .01%.
Proposals are not law…
They have momentum and public support in an election year. Some of these will pass and pay for the expanded services he campaigned on, like free childcare, busses and city grocery stores.
