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Mamdani Threatens 9.5% Property Tax Increase if Wealth Tax Is Not Passed (www.nytimes.com)

submitted 5 months ago by avidamoeba@lemmy.ca to c/news@lemmy.world

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cross-posted from: https://sh.itjust.works/post/55502152

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[–] zjti8eit@lemmy.dbzer0.com 7 points 5 months ago (2 children)

I mean property taxes and wealth taxes are essentially the same thing.

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[–] Manjushri@piefed.social 11 points 5 months ago (1 child)

Only if the wealthy have their money invested in real estate, right? If they're invested in stocks and hedge funds and such, then a property tax increase isn't going to cost them as much as a straight up wealth tax.

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