On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes. The proposals have intensified criticism of Mamdani, a...
Big Apple vs Pearl of the Orient? How higher taxes in New York may open door for Hong Kong
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SCMP - Feed 91By Daisy Wu
EXECUTIVE SUMMARY
On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes. The proposals have intensified criticism of Mamdani, a...
Key Takeaways
- Big Apple vs Pearl of the Orient?
- How higher taxes in New York may open door for Hong Kong.
- Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes.
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Published originally on SCMP - Feed 91
