Sad day for America and NYC

[Foxpro.223]

Insanity.

Snip~
New York City mayor Zohran Mamdani has endorsed a 50% death tax rate.

Combined with the federal rate of 40%, and after accounting for deductibility, New Yorkers will face a combined federal-state Death Tax rate of 70%. The highest in the world.

Mamdani wants to drastically expand the Death Tax net. Any New Yorker who dies with $750k of assets will be hit.

As noted by Bloomberg News:

New York City Mayor Zohran Mamdani wants to slash New York state’s estate tax exemption threshold by almost 90%, from a more than $7 million limit to $750,000, and raise the top estate tax rate from 16% to 50%.

Mamdani Wants to Stick New Yorkers with World's Highest Death Tax - Americans for Tax Reform

New York City mayor Zohran Mamdani has endorsed a 50% death tax rate.

atr.org