Buoyed by billions in assistance from the state, real talk about what it takes to run New York City, and some taxes on the rich, the mayor closed a historic leftover budget deficit.
tax policy
Posted inEconomic Policy
On Tax Day, Mamdani Taxed the Rich
The mayor, his supporters, and public opinion convinced their previously reluctant governor to agree to a tax on the second (or third, fourth, fifth, etc.) homes of their city’s nonresident rich.
Posted inPolitics
Trump’s Wreckage of Social Security and Medicare
The assault on cherished social insurance programs is a gift to Democrats, but only if they are clear about how to defend them.
Posted inEconomic Policy
Live Tax-Free and Die
After mining out state budgets for 50 years, conservative lawmakers across the country are now turning their pickaxes to local governments’ largest source of revenue: property taxes.
Posted inEconomic Policy
A Retrospective on Bidenomics
Joe Biden listened to the left on full employment. But the lasting effects were wanting, and the politics were brutal.
Posted inMoney, Politics, and Power
Greed Flows South
Some of our billionaires feel comfortable only in states of the neo-Confederacy.
Posted inEconomic Policy
Notes for Next Time
My generation got a very good economic deal. We need to restore opportunities to our children and grandchildren, or there will be more recruits to MAGA.
Posted inEconomic Policy
A K-Shaped Economy Requires K-Shaped Taxes
Wealth tax skeptics either fail to notice the massive upward redistribution of wealth, income, and political power, benefit from it, or fear challenging it.
Posted inEconomic Policy
Billionaire Wealth Has Doubled So Far This Decade
An estimate of a new wealth tax proposal shows that it would generate twice as much revenue as it did when it was first introduced in 2021.