Mayor Zohran Mamdani says a financial crisis is worse than the Great Recession nearly two decades ago, despite Wall Street’s booming year.
The financial industry is a key contributor to New York’s tax base, accounting for about 7% of the city’s tax revenue during the 2024 fiscal year.
Mamdani launched a campaign to lobby lawmakers to hike taxes on the richest residents and corporations, and to send billions more in aid to the city, to help fill a projected $12.6 billion budget gap.
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This is nothing but a snake oil sales man
He inflated the budget then calls it a deficit
The mayor of New York is giving it to New York and giving it to New York Hard
If you voted for this guy…
Hahaha he doesn’t like that the city’s revenue is redistributed throughout the state. Funny coming from a communist
If his mouth is moving he’s lying 🤡💯🤢🤮
This isn't zorhans fault today however it will be if it's still there at the end of his term. (Note if you believe he can fix it then hold him accountable if he can't, that is what I will do, but I do believe he can fix this)
Socialism is the poison that is going to worsen the situation. I see how he won. He presents well. If he were to sell poison apples people would line up to buy them.
Stealing income
He's letting you know, no free stuff. HA,HA,HA.
Maybe stop giving stuff away for free
The people of NYC are going to pay dearly for Mamdani’s failed policies and his hair brained freebies
Wait to see what AI will do from New York, Los Angeles, San Francisco, London,…
He wants to tax everyone but don't talk about waste spending. Why blame the previous administration when they left 8 billion for the city. What happened to that money? You gave yourself and your staff raise but didn't do what you said about affordable. You scammed the people
And who was in office before him, and before him??
Democrats.
If it’s legally their job then Eric Adams and Cuomo should face consequences. Even the governor should be held responsible
These Muslim mayors always blame the previous administration but never mention it when they are canvassing for support. They just say things that make them look invincible. Get him now because you NY are going down a steep crevice. From SA.
Awesome the context of balance the budget for healthy finance and good city development with the right target
Ask to the governor why the city has 12 billion dollars deficit….
send him money and he will make the $3.00 bus pass even freeer
He will collect protection fees from infidels and zakats from muslims to run his govt.
Bankers will be told not to collect interest as per the islamic law.
He’s indirectly telling the governor we’re not paying the states deficit ANYMORE!!! I support that💯!!! 👍🏼👍🏼👍🏼
Interesting that he is never asked about massive exodus and capital flight.
Damn he came with numbers
If he can turn this around. He is smart. But I don't think he can'.he doesn't seem like a smart guy
Does this mean no free stuff ?
Cuts from the administration been there less than a month, and already 👉 fingers ( everything free doesn't work) before Biden n.y. was fine with money. Say the truth Mondoni ( letting 15 million people in the country and everything free got new York 12 billion in the hole
Huge budget problem and he wants to provide all these free services. We knew it would not happen.
He’s full of 💩 . He’s lying just get people to onboard with raising taxes. He was never going to be able to give all the free shit he promised. Biggest scam artist communist.
If your goal is socialist utopia where everything will be solved by socialist system why would you care about balancing the budget instead of just creating that system and all the problem goes away? Is this guy backpadelling?
So running out of everyone else’s money already mayor? Looks like New York is about to become Gotham
So will you remove the two billion in expenses that was added?
It's such a good thing they have free busses
They all keep kicking the can down the road.
Ahhh…why did you raise my property taxes?
wait and see, after his term the deficit will be much higher. just wait
Wait a minute, As Mayor by law he must balance the budget, what happened with the previous Democrat Mayor's and where is the F—– City Controller. WTF
Once the city budget is stabilised, it is necessary to give more to the state than the city receives. The dream is to have multiple New York Cities, and other towns and cities need external funding to grow, though of course they also need non-psychopathic leaders.
Good luck brother. Hope you don't end up like Kwane Nkrumah your namesake
He sounds a lot more like a pretty conservative Republican in saying he wants to balance the budget instead of the radical leftist he was painted to be. He’s obviously an intelligent, pragmatic, thoughtful public servant who understands his job and his goals. Thus far, he’s done a great job of communicating the immediate needs of the city and its residents and rallying support for his vision. Kudos, Mr Mayor.
Insane that he’s proposing billions in new spending in light of massive budget shortfalls. He continues to push New York as a sanctuary state, committing taxpayer money to services, housing, and healthcare for people here illegally who are not residents. At the same time, he looks to Wall Street as a financial savior after repeatedly demonizing capitalism. His first instinct is always to raise taxes—without scaling back spending proposals or cutting waste, fraud, and abuse. New York has already spent roughly $9 billion on migrants, yet he deflects blame onto Adams and Cuomo, who hasn't been governor for five years. Why hasn't Houchel fixed the probl over the last 4 years? Raising taxes and piling on new regulations only makes New York less competitive and accelerates the exit of businesses and taxpayers, leading to even deeper financial problems. You can’t keep bringing in more takers while chasing out the makers who fund the system.
It's time to tax the rich like we use to do back in the 50's and 60's. Tricky Dicky fucked that up and Reagan made it worse.
Enter all the people in the comments with no actual knowledge but moving lips
All blame goes to Previous mayors , billionaires, Governors, state administration , millionaires! All inflicted this corruption to NYC! It’s time for pay back! Better fix it or Go to Jail! Robin Hood rules now!
You’re gonna have a hard time balancing out the relationship with the rest of the state. The rest of the state is impoverished, especially the further west you go