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

EXCERPT:

MAMDANI: "We now have more millionaires than we did in 2021, in this state. And the reason that I’m confident is, all I’m speaking about is a 2% increase in income taxes for New Yorkers who make $1 million or more a year. And when it comes to corporations, it’s matching our state’s top corporate tax rate, 7.25%, to that of New Jersey, 11.5%. That’s why I believe that this is both feasible and necessary. But I’m going to meet with business leaders about this. I’ve already started having those conversations because I do not want them to leave. I want them to stay. And the reason I think that we can have them stay is we’re going to use this money to create a better quality of life, even for themselves."