Question … “Mayor Mamdani has said he doesn't think wealthy people and corporations would actually leave if their taxes go up. Do you disagree?”
HOCHUL: “It's not a gamble I want to take because we're already down ~$13 BILLION in revenues from people who did leave our state.” LIBS eating LIBS 😏
(twitter.com)
🧠 These people are STUPID!
Budget Gaps: The city faces significant shortfalls for upcoming fiscal years (e.g., $2.2B for FY2026, $10.4B for FY2027).
New York City's debt is substantial, with total liabilities over $300 billion as of 2022, leading to high per capita liabilities, though its debt management shows capacity within limits, with significant portions being tax-exempt debt for long-term capital needs, but concerns exist about exhausting borrowing capacity if current spending continues.
Did the WHs want him to win? Promised lots of free stuff and already has a $2.2B budget shortfall that will balloon to over $10B in the next fiscal year. The current budget is $116B.
It's quite possible the WH let him win. The whole country will see the failure of socialism. But then again, I'm sure someone will say that NY did socialism wrong.