Mamdani on the Fiscal Crisis: Who Should Pay These Taxes? It Should Be the Wealthiest New Yorkers, and the Most Profitable Corporations

EXCERPT:

MAMDANI: “I have long believed in the importance of taxing the rich. I've said so publicly many a time. And I've long believed in the need for the state and the city's relationship to be a fair one. What we are speaking about in this moment, however, is not just that long-standing belief, the longstanding issues that have characterized that relationship, but a generational fiscal crisis of $5.4 billion. And when faced with this crisis, the question is who should pay these taxes? I believe that it should be the wealthiest New Yorkers, the most profitable corporations. I believe that they can afford to pay a little bit more. We are in the most expensive city in the United States of America. I firmly believe in the need to make this an affordable city. I believe that we do so and reckon with structural crises by pursuing the first path, one of raising taxes on the richest New Yorkers, the most profitable corporations, and ending the drain.”