| ▲ | slantedview 4 hours ago | |
This is an old argument. Remember how all the billionaires were going to flee NYC if/when Mamdani was elected. And... then they didn't. | ||
| ▲ | parineum 34 minutes ago | parent | next [-] | |
He also hasn't really done anything. Mostly because he made a bunch of promises to do things he doesn't have the authority to do. | ||
| ▲ | larsiusprime 3 hours ago | parent | prev | next [-] | |
Well Mamdani's pied-a-tierre tax was specifically a real estate tax, levied on the real estate of people who don't have residency in the city. It's a marginal tax in the grand scheme of things, but unlike the billionaire wealth tax, it actually works, because the real estate can't move. And the owners can't just threaten to leave because they've already left, that's why the tax hits them. | ||
| ▲ | kelnos 4 hours ago | parent | prev [-] | |
Except that several billionaires have already left California, in anticipation of this law, as the article notes. | ||