GOOD LUCK WITH THAT!

[hm1996]

How NYC Mayor-Elect Mamdani Plans to Pay for Free Buses

Who Would Pay for This?​

Mamdani, who lives in a one-bedroom, rent-stabilized apartment in Queens, wants to raise taxes on the “wealthiest New Yorkers” by moving New York’s top corporate tax rate from 7.25 percent to 11.5 percent.
The mayor-elect, who once attempted to be a rapper, said this tax increase alone will raise $5 billion extra per year.
He separately plans to increase taxes for anyone who makes more than $1 million.

“The top 1% in NYC make over $1 million a year but are taxed at essentially the same rate as everyday New Yorkers—3.9%. We’ll push to levy a new 2% tax on all incomes over $1 million,” Mamdami’s campaign said.

Mandami said this would raise $4 billion annually.

The New York City mayor, however, doesn’t have the authority to change taxes. Mamdani would need to convince state lawmakers to pass his plan and for Gov. Kathy Hochul to sign it into law.

If anyone believes corporations are going to pay the additioinal 4.25% tax rate proposed by the new "Democratic Socialist", they are smoking pot or something stronger. History suggests that these taxes will be passed on to the customers (if said corporations do not choose to move to FL or TX.
Anyone making a million dollars a year would have to pay an additonal $20,000/year NYC income tax. How many of those will remain in NYC if these taxes are forced on them.

The New York City mayor, however, doesn’t have the authority to change taxes. Mamdani would need to convince state lawmakers to pass his plan and for Gov. Kathy Hochul to sign it into law.

And, if the good mayor is unable to make good on his promises, ?????? Rock and a hard place comes to mind.