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This Mamdani tax scheme is a stealth strike on the American dream

If Mayor Zohran Mamdani gets his way, half of everything New Yorkers work a lifetime for — including their homes, their businesses or farms and their savings — could be stripped away on their deathbeds.  

No more Empire State; he’d make this the Expropriation State.

Only one thing in life is certain: We all die.

Mamdani is exploiting that certainty to close what he claims is a $5.4 billion city budget gap.

More than that, he aims to undermine the foundations of American life by attacking wealth accumulation, homeownership and private property, per the radical agenda of the Democratic Socialists of America.

Currently, New York is one of a handful of states that imposes a death tax, a 16% levy on estates worth more than $7 million.

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But the tax wish list Mamdani circulated last week to state legislators and Gov. Kathy Hochul proposed lowering the threshold to a mere $750,000 — which would clobber millions more New Yorkers all across the state with a punishing tax.

He would also hike the rate to a whopping 50%, 2½ times the 20% charged in Hawaii and Washington state, the........

© New York Post