John Ketcham: The Pied-à-Terre Tax Is Not Necessary, But Mamdani Is Afraid of Being Labeled an Austerity Mayor

RUSH EXCERPT:
KETCHAM: "Was to be real about the pied-à-terre tax is not necessary. Mamdani could easily cut $500 million from his budget. He is afraid of being labeled austerity mayor. But he also has an ideological commitment as a Democratic Socialist to raise taxes on the rich. Taxing the rich is red meat to his face. So he accomplished this tax because the government would not give them personal income taxes or corporate tax increases and now he is learning that is downsized for him."