Mamdani: Increasing Taxes for the Rich Will Create a Better Quality of Life, Even for Themselves

RAMPELL So another question ░░░░░░░░ the tax issue I ░░░░░░░░ sorry I m a ░░░░░░░░ person MAMDANI Please RAMPELL ░░░░░░░░ may not be the ░░░░░░░░ of many governors but ░░░░░░░░ m the descendant of ░░░░░░░░ descendants of many generations ░░░░░░░░ accountants So if you ░░░░░░░░ succeed let s say ░░░░░░░░ convincing Albany to raise ░░░░░░░░ and I m a ░░░░░░░░ skeptical that that will ░░░░░░░░ but let s say ░░░░░░░░ do you know there ░░░░░░░░ concern as Governor Hochul ░░░░░░░░ that there will be ░░░░░░░░ who leave New York ░░░░░░░░ for Palm Beach or ░░░░░░░░ I know we re ░░░░░░░░ going to like be ░░░░░░░░ playing our little violins ░░░░░░░░ the billionaires who have ░░░░░░░░ pay more taxes but ░░░░░░░░ do take a lot ░░░░░░░░ money with them In ░░░░░░░░ the Citizens Budget Commission ░░░░░░░░ that hundreds of thousands ░░░░░░░░ high income New Yorkers ░░░░░░░░ left New York City ░░░░░░░░ just the past five ░░░░░░░░ and households that earn ░░░░░░░░ than 1 million pay ░░░░░░░░ 40 of New York ░░░░░░░░ taxes So why dismiss ░░░░░░░░ that your potential tax ░░░░░░░░ that you need to ░░░░░░░░ money from to pay ░░░░░░░░ these things will leave ░░░░░░░░ I don t think ░░░░░░░░ these are concerns to ░░░░░░░░ dismissed These are ones ░░░░░░░░ I have to engage ░░░░░░░░ And ultimately as part ░░░░░░░░ the other conversation of ░░░░░░░░ do we win over ░░░░░░░░ who haven t yet ░░░░░░░░ this campaign and this ░░░░░░░░ I have to meet ░░░░░░░░ New Yorkers who are ░░░░░░░░ about any aspect of ░░░░░░░░ campaign I have to ░░░░░░░░ with them who oppose ░░░░░░░░ this campaign because I ░░░░░░░░ not looking to lead ░░░░░░░░ coalition of those that ░░░░░░░░ for me I m ░░░░░░░░ to lead an entire ░░░░░░░░ of 8 5 million ░░░░░░░░ And the reason that ░░░░░░░░ believe that we need ░░░░░░░░ increase taxes on the ░░░░░░░░ and the most profitable ░░░░░░░░ is because of the ░░░░░░░░ that those are taxes ░░░░░░░░ would then pay for ░░░░░░░░ better quality of life ░░░░░░░░ all RAMPELL But only ░░░░░░░░ they stay MAMDANI And ░░░░░░░░ reason that I believe ░░░░░░░░ they would stay because ░░░░░░░░ want them to stay ░░░░░░░░ that when the Fiscal ░░░░░░░░ Institute did an analysis ░░░░░░░░ the top 1 of ░░░░░░░░ Yorkers they found they ░░░░░░░░ at one fourth the ░░░░░░░░ of other income brackets ░░░░░░░░ when they do leave ░░░░░░░░ go to other states ░░░░░░░░ are considered high tax ░░░░░░░░ Jersey or California RAMPELL ░░░░░░░░ ve seen this study ░░░░░░░░ ve seen this study ░░░░░░░░ I have to say ░░░░░░░░ m a little dubious ░░░░░░░░ we re talking about ░░░░░░░░ major change in the ░░░░░░░░ system that would hasten ░░░░░░░░ that are already happening ░░░░░░░░ we ve lost hundreds ░░░░░░░░ thousands of wealthy New ░░░░░░░░ already MAMDANI We now ░░░░░░░░ more millionaires than we ░░░░░░░░ in 2021 in this ░░░░░░░░ And the reason that ░░░░░░░░ m confident is all ░░░░░░░░ m speaking about is ░░░░░░░░ 2 increase in income ░░░░░░░░ for New Yorkers who ░░░░░░░░ 1 million or more ░░░░░░░░ year And when it ░░░░░░░░ to corporations it s ░░░░░░░░ our state s top ░░░░░░░░ tax rate 7 25 ░░░░░░░░ that of New Jersey ░░░░░░░░ 5 That s why ░░░░░░░░ believe that this is ░░░░░░░░ feasible and necessary But ░░░░░░░░ m going to meet ░░░░░░░░ business leaders about this ░░░░░░░░ ve already started having ░░░░░░░░ conversations because I do ░░░░░░░░ want them to leave ░░░░░░░░ want them to stay ░░░░░░░░ the reason I think ░░░░░░░░ we can have them ░░░░░░░░ is we re going ░░░░░░░░ use this money to ░░░░░░░░ a better quality of ░░░░░░░░ even for themselves.”