United States President Donald Trump has accused New York City Mayor Zohran Mamdani of “ruining” the city with his new tax policy. “Sadly, Mayor Mamdani is RUINING New York! He has no chance! The United States of America should not contribute to his failure. It will only get WORSE. TAXES, TAXES, TAX policy is SO BAD,” Trump wrote on Truth Social.
“People are fleeing. They need to change their ways, AND FAST. History has proven that THESE ‘THINGS’ JUST DON’T WORK,” he added.
The governor of New York has introduced a new tax on expensive pied-à-terres
As the AP reported, New York Gov. Kathy Hochul has for months resisted calls to raise taxes on the wealthy and is pushing back against progressive activists who have protested from Manhattan to Puerto Rico chanting “tax the rich.”
Now he proposes a compromise.
The moderate Democrat says she will champion a new tax on New York’s multimillion-dollar second homes, known as pied-à-terres, in an effort to meet the demands of Mayor Zohran Mamdani and his supporters while balancing concerns about the state’s financial stability.
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The idea, announced Wednesday, would allow the city to levy a tax surcharge on secondary residences worth more than $5 million, which the governor’s office said could generate at least $500 million a year as Mamdani moves to fill a multibillion-dollar budget hole and fund his ambitious program, the AP reported.
“As governor, I understand the importance of stabilizing the city’s finances without compromising the essential services that New Yorkers count on,” Hochul said in a statement. “If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like any other New Yorker.”
Mamdani still earns royalties from his rap music, tax returns show
New York City Mayor Zohran Mamdani is still cashing in on his brief stint as a multilingual rapper, according to tax returns.
But the 34-year-old Democrat’s rapid rise as a high-profile politician has led to only a modest increase in music revenue, with $1,643 in royalties last year, a slight increase from $1,267 in 2024.
Mamdani, who rapped under the monikers “Young Cardamom” and “Mr. Cardamom,” joked Thursday that New Yorkers should “go on Spotify” if they want to help his bottom line. “A lot of people say they’re listening,” he added. “They don’t listen.”
Read also | “Working New Yorkers will pay the price,” Mamdani tears up the NYC budget proposal
Mamdani started rapping in high school and by his early 20s was releasing socially conscious songs on topics ranging from Indian bread to colonialism. He has described himself as a “C-list rapper” following in the footsteps of his childhood heroes, including the indie-rap group Das Racist.
Tax returns shared with reporters Thursday showed that most of Mamdani’s income in 2025 came from his $131,296 salary as a state assemblyman. His wife earned an additional $10,010 for her work in graphic design. In total, they reported a combined income of roughly $145,000.
(With input from agencies)
