New York City Mayor Zohran Mamdani just hit his first 100 days in office, and he shows no signs of letting up.
His latest mission is to close NYC’s budget gap, and in order to do that, he wants to tax the rich and their pied-à-terres. The term is basically French for unused second homes, and Mamdani proposed that any uber-rich New Yorker who’s got one worth $5 million or more get hit with a yearly tax surcharge.
The rates or tiers of the proposed new tax haven haven’t been revealed yet, but it’s expected to generate upwards of $500 million a year and reduce the gap between the city’s revenue and its spending…