No need for higher taxes: Hochul must continue to say no to Albany Dems and Mamdani |
No surprise that the state Senate and Assembly up in Albany want higher personal income taxes on the wealthy and higher corporate taxes as they propose in their one-house budget resolutions published late Monday. They always want higher taxes. Gov. Hochul is correct that higher taxes aren’t needed.
What is different this year is that the calls to tax the rich echo the victorious campaign slogan of Mayor Mamdani, but Hochul’s answer has to remain the same: No. Higher taxes aren’t needed and they should not be imposed simply because Mamdani or Albany pols want higher taxes for the sake of higher taxes.
Mamdani wants to jack up personal income taxes on top earners by 51% to bring in another $4 billion a year. He also wants the corporate tax rates to climb to 11.5%, up from 7.5%,........