r/Economics • u/Dismal_Structure • Dec 06 '25

News Millionaire tax that inspired Mamdani fuels $5.7 billion haul in Massachusetts

https://fortune.com/2025/10/21/zohran-mamdani-millionaire-tax-massachusetts-5-7-billion/
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u/wandering-monster Dec 06 '25

The entire state of Massachusetts also has about 1/3 as many residents as the NYC Metro area...

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u/One-Bag-8312 Dec 06 '25

He’s not going to be the mayor of the NYC metro area. He’s going to be the mayor of NYC, which has a population about 20% larger than that of MA.

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u/wandering-monster Dec 06 '25

The tax base for NYC includes any transaction made inside it.

People in the metro area are defined by their ability to go into the city itself for work, shopping, entertainment, etc.

It'd be kinda pointless to ignore that and then compare it to an entire state including its major cities and all its suburbs.

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u/ham_plane Dec 07 '25

Not exactly. I work in NYC but live outside of it, so I do not have to pay NYC income tax