Meet the wealthy New Yorkers pleading with city’s new socialist mayor to RAISE their
New York City‘s new socialist mayor Zohran Mamdani has caused quite a stir in the Big Apple, especially when it comes to his hardline stance on increasing taxes for the rich.
Many wealthy residents did not vote for Mamdani, and some even said they would flee the city after hearing of his plan to tax those individuals who make $1 million a year and corporations that earn $5 million annually.
The Democratic socialist has promised that the tax money would go toward programs in the city like universal childcare, free city-wide bus services, and a massive investment in housing, among other goals.
But amid the overwhelming dismay toward his push to raise taxes for the wealthy, there are opulent locals who are fully on board with his plan and are even pleading with lawmakers to get it done.
Craig Kaplan, Marissa Hersh, and Marc Baum, all affluent New York City residents, are three of those people pushing for the cause.
All of them not only support Mamdani, but are part of a group called Patriotic Millionaires, an organization that pushed lawmakers to improve the lives of the working class by making the rich pay higher taxes.
Kaplan, a lawyer in the Big Apple, uses his political connections to help convince Governor Kathy Hochul to raise taxes for people like him – something she has been openly opposed to.
‘There is such a need in our city for the kind of programs that Mamdani is talking about,’ Kaplan told The New York Times.
Despite reports that many New Yorkers are not happy with Mayor Zohran Mamdani’s plan to have the wealthy pay high taxes, there is a group of rich residents, including Craig Kaplan (pictured), who believe it is the only viable move
During his campaign, the Democratic socialist (pictured Sunday) promised he would get the rich to pay higher taxes in the Big Apple so there would be more money for programs like universal childcare, government-owned grocery stores, and free bus services
‘The plans to spend the money are totally productive and serve the whole society, from the ultra rich to working people,’ Kaplan added.
The attorney said he also doesn’t understand why increasing taxes would push the wealthy to run for the hills.
‘I can’t imagine anybody who has that kind of income would leave New York over a $20,000 tax increase. It would mean absolutely nothing for me,’ Kaplan, who’s hosted Democratic fundraisers in his Manhattan home with his wife, added.
Hersh, a philanthropic advisor to the Movement Voter Project, an organization that raises money for progressive causes, echoed Kaplan, stating she also would not be affected by the mayor’s plan because she does not make $1 million annually.
She does come from a wealthy family, though, and said she fully supports Mamdani’s push to create city-owned grocery stores in NYC.
The politician said the government-run stores would be ‘focused on keeping prices low, not making a profit.’
Hersh, a mother of two who lives in Queens, said she would be more than happy to ‘bear the burden’ and pay higher taxes to help the city.
‘We use the parks, the libraries and public 3-K. We can afford to pay higher taxes, and I’d be happy to be the one to bear the burden, which really isn’t a burden,’ she told the outlet.
Marissa Hersh, a philanthropic advisor to the Movement Voter Project said she too would not be affected by the mayor’s plan because she does not make $1 million annually, but she does come from a wealthy family
Marc Baum said higher taxes wouldn’t have an impact on him either because he tends to live a frugal, simple life
Baum, another lawyer who lives in Manhattan, said higher taxes wouldn’t have an impact on him either because he tends to live a frugal, simple life.
He drives a 2013 car ‘into the ground,’ purchased a West Village brownstone in the 1990s, and is the proud owner of ‘two shacks in the Adirondacks,’ he told The Times.
‘Would I give less to charity? I don’t think so,’ he said.
The group they are all a part of, Patriotic Millionaires, also includes other high-level executives, including Abigail Disney, an heir to the Disney fortune, and Morris Pearl, the ex-managing director of BlackRock.
Another member, Andrew Tobias, said he would happily pay more ‘as long as everybody has to pay it.’
He also suggested that Mamdani should think of a way to thank rich New Yorkers for their possible increased contributions.
‘You made $38 million this year — what a wonderful problem to have. On top of that, you get a fruit basket from the mayor,’ he quipped.
Though Tobias believes most wealthy locals would be fine with the tax hike, others who make just over $1 million might have a harder time.
‘If you have a place in the Hamptons and three kids in private school, it’s probably tough to make ends meet,’ he explained.
‘There might be someone who has to sacrifice something.’
While there are some that are fine with the possible increase, others are very upset about it, and are thinking of a way out before it could come into play.
John Catsimatidis, a billionaire businessman and CEO of Manhattan grocery stores Gristedes and D’Agostino Supermarkets, believes the tax plan would negatively impact the city’s economy.
Despite that, Catsimatidis said he would personally be fine if higher taxes came into play.
‘I’m going to run out of time before I run out of money,’ he said.
Still, he sees a slew of New Yorkers uprooting their lives because of this.
‘I think it’s a stupid move. The joke we tell is that New York politicians are the best real estate brokers in Florida — they really laugh at us,’ he said.
The proposed tax hike on the rich in New York City has led many to suggest that wealthy residents will flee, but the Big Apple is home to nearly 400,000 millionaires. (Pictured: Protestors hold up a ‘Tax the Rich’ sign in NYC)
Despite rumors that New Yorkers plan to vacate one of the country’s most populated cities, a mass exodus is unlikely, according to a recent Cornell University report.
‘The first fact is simple: Millionaires have low migration rates,’ the research stated.
The last time a chunk of New Yorkers left the city was in 2020 and 2021, during the COVID-19 pandemic.
In recent years, the Empire State has gained a slew of millionaires and remains the hub for the wealthy.
According to a recent report from Henley & Partners, the Big Apple is still considered the place where the rich settle, with nearly 400,000 millionaires calling it home.