Zohran Mamdani promised to make New York City more affordable with a number of plans that would be funded by raised taxes on the wealthiest of those living in the five boroughs. One of his first proposals actually seems to be more harmful to the middle class of citizens than helpful for them. Ann-Margaret Carrozza, author, attorney and host of The Laws of Your Money on WOR Sundays, spoke with Curtis Sliwa and Larry Mendte in the Morning about the Mamdani tax plan and its consequences.
“This would be devastating to New York middle class families and really drive a wedge into society,” Carrozza told hosts Sliwa and Mendte. “At $750,000 we’re talking about an ordinary family who is a home owner, they have a small business, and that family would be required to sell the property, to sell the business and when we’re talking about a small business, a pizzeria, a bagel shop, they employ 8 out of every 10 people so the effects are really devastating.”
Carrozza was able to share some positive news for those who would be hurt by this proposal: “Fortunately, he can’t do this on his own; any tax changes require state legislation and it does not look like New York State is going to adopt this proposal.”
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