Socialism’s slippery slope found the Big Apple’s mayor doing an about-face on free stuff, instead warning tax hikes were on the way for naive New Yorkers.
While the public relations of his campaign plowed ahead with heavily produced propaganda pieces, reality is setting in that New York City Mayor Zohran Mamdani (D) lacks the means to fulfill the entitlement dreams of his supporters. Instead, facing a more than $5 billion budget problem, Hizzoner attempted to shift blame to the governor’s mansion, asserting that he would have to raise property taxes by nearly 10% in his quest to make the city “affordable.”
Addressing the budget concerns at a press conference on Tuesday, Mamdani argued that raising property taxes was the only solution within his reach if New York Gov. Kathy Hochul (D) refused to raise taxes on corporations and the “ultra-wealthy.”
“I wonder if we have a situation where this is a clash between ideology and reality, and if faced with the fact that you won’t get those taxes from Albany, would you really, really, really raise property taxes here in New York City?” asked a reporter who noted Hochul’s opposition to tax hikes during her re-election campaign.
“This is not a conversation on the basis of ideology. This is a conversation about a fiscal crisis. I have long believed in the importance of taxing the rich,” began the mayor’s response.
Mamdani: What we are speaking about in this moment is a generational fiscal crisis of $5.4 billion. And when faced with this crisis, the question is: Who should pay these taxes?
I believe it should be the wealthiest New Yorkers and the most profitable corporations. I believe… pic.twitter.com/M7B8MV9n5h
— Acyn (@Acyn) February 17, 2026
“I’ve said so publicly many a time, and I’ve believed in the need for the state and the city’s relationship to be a fair one. What we are speaking about in this moment, however, is not just that long-standing belief, the long-standing issues that have characterized that relationship, but a generational fiscal crisis of $5.4 billion,” continued Mamdani. “And when faced with this crisis, the question is: who should pay these taxes?”
Deeming New York “the most expensive city” in the country, the mayor insisted the best path to make it affordable was to increase taxes on the most successful. The proposed budget for Fiscal Year 2027 has already factored in the 9.5% property tax increase. Despite including tens of millions of dollars devoted just to six-figure salaries for city employees, Mamdani’s office simply couldn’t fathom finding the needed cuts out of the $127 billion budget.
In a social media post, he doubled down on his messaging and insisted, “New Yorker voted for bold change and competent leadership. We will deliver both, and we look forward to partnering with Albany to protect working New Yorkers.”
Today, I’m releasing the City’s preliminary budget. After years of fiscal mismanagement, we’re staring at a $5.4 billion budget gap — and two paths.
One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between…
— Mayor Zohran Kwame Mamdani (@NYCMayor) February 17, 2026
As previously reported, a similar attempt to increase tax revenue via a wealth tax resulted in the mass exodus of the wealthy from Norway, leading to a nearly $600 million loss in yearly tax revenue instead of the intended increase of about $150 million.
Meanwhile, as feces- and refuse-riddled streets were revealed after ice packs poorly addressed following winter storms began to melt, crime remains an issue, and even Democrats are turning against Mamdani for the “horrible mess” his fledgling tenure has produced. Reactions on social media pointed out what anyone who cared to stop and think would have seen.
“Went from ‘Rich people will pay’ to ‘balance the budget on the backs of working people’ REAL QUICK.”
I don’t hate Zohran, but what did people expect..?
You voted for an idealist that had no real power to do what he said he would, and now it’s beginning to show
Went from “Rich people will pay” to “balance the budget on the backs of working people” REAL QUICK
— Wade Plemons (@WadePlem) February 17, 2026
When the wealthy relocate just like they have done almost every single time this has been suggested, how do you propose the gap gets closed? By seizing personal property and selling it?
— me (@ER29999) February 17, 2026
Raising taxes will surely make it all more affordable.
— Rural Revival (@RuralRevive) February 17, 2026
Never a mention of spending less
— Chris Cordes 🇺🇸 (@Rabuuf) February 18, 2026
I guarantee there’s over $5.4B in waste, fraud and abuse he could cut right now
— Trevor (@prediction61278) February 17, 2026
Any increase in property tax will be added to my renters. Don’t think pretty owners are eating any additional cost. Thank your mayor for your lease increase
— The HockMan (@Hockman9797) February 17, 2026
— BryFiTX 🇺🇸 (@bry_tx) February 17, 2026
Native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College where he studied Cultural Anthropology and Geography. An avid reader and truth seeker, he currently resides in Texas with his wife and their dog and, when he isn't researching current events and their impacts, you'll find him spending time with friends and family or working on his next novel.
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