Mamdani Braggs “Highest Taxes Ever”, Then NYC Implodes (Video)
In this 16 April 2026 video, host Cash Jordan talks about NYC’s mayor has figured out how to launch a wealth tax, but since it will not raise enough to cover things like free grocery stores and unlimited daycare centers, many think the middle class will be the next target.
Mamdani, who was inaugurated as Mayor on January 1, 2026, celebrated the enactment of several new taxes targeting the wealthy to address a projected $5.4 billion budget gap. Mamdani and Governor Kathy Hochul announced a new annual surcharge on luxury second homes (condos, co-ops, and 1-3 family homes) valued above $5 million. The tax targets non-residents using NYC real estate for “wealth storage” and is projected to raise $500 million annually. The Mayor is pushing for a 2 percent city income tax increase on residents earning over $1 million per year. Proposals have been floated to slash the estate tax exemption threshold by 90 percent, from $7 million down to $750,000, while raising the top rate to 50 percent.
Critics and online commentators argue these policies will lead to a mass exodus of high earners and businesses from NYC.
https://youtu.be/PzMMSVSDxNA
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