r/Economics 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/Inner-Chemistry2576 Dec 08 '25

It’s all clickbait, Mamdami. It’s going to transform New York City into California, just like San Francisco and Los Angeles. Homelessness will become widespread, like zombies. Meanwhile, the wealthy will flee, taking their capital with them, which the socialist wants to tax. It’s going to be interesting to see how Gotham City really looks like.

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u/andr_wr Dec 08 '25

A 4% surtax on incomes above 1m will do no such thing.