When, one wonders, will politicians become less impressed with their wares and wiles?
The new New York mayor has taken city reins and unfurled his first major effort: begging for money.
Begging, that is, for it to be demanded from others.
“New York City Mayor Zohran Mamdani called on state lawmakers Wednesday to approve a 2 percent personal income tax increase on the city’s wealthiest residents,” writes Kimberly Hayek* for The Epoch Times, “as well as a hike in the corporate tax rate in a bid to close a multibillion-dollar budget gap.”
Though Mamdani proclaims a new era of city and state working together, there is nothing new in his pitches for more taxes to redistribute to various voters, rather than attempting to build (or restore) a good foundation for normal social and business life.
Ms. Hayek does her duty, though, telling the old, old story of class-envy politics. “Estimates suggested it” — a 2 percent surtax just for the “very” rich — “could create approximately $4 billion annually to support increased public services and affordability programs, as well as offset costs for broad social investments while not saddling middle- and low-income residents.”
But that’s merely the politician’s “theory.”
In reality, writes Hayek, “France’s experiment with a similar surtax on high incomes underperformed revenue projections. It yielded €400 million in its first year against an expected 1.9 billion euros.”
Same-old story. Zohran Mamdani was never a breath of fresh air.
Just another old-timey demagogue.
Mamdani may never tire of his schtick, but when will New Yorkers wake up … and yawn?
This is Common Sense. I’m Paul Jacob.
* Great name, eh?
Illustration created with Nano Banana
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