First They Tax the Billionaires, Then the Millionaires, Then You.

About this episode

The episode discusses the implications of new tax policies in New York City and California, focusing on the impact on billionaires and millionaires.

Zohran Mamdani spent Tax Day celebrating New York City’s new tax on luxury second homes. It was sold as a fix for the city’s $5 billion budget deficit, but only covers at most 10% of the gap. At the same time, Mamdani is promising a whole new set of expensive programs that would dig the hole even deeper. California is in the same boat, pushing a 5% wealth tax on billionaires as the state budget collapses under the weight of pension promises they never planned how to pay for. Across the country, blue state politicians are doubling down on soaking the rich even as millionaires and billionaires flee to Florida and Texas. This is the communist spiral to hell: tax more, spend more, repeat. _____________________________________ Check my sources over on Substack: https://open.substack.com/pub/dadsavesamerica/p/first-they-tax-the-billionaires-then?r=24ayxm&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true _____________________________________ Purchase a T-shirt, hoodie, and more over on our merch store: https://shop.dadsavesamerica.com/ Watch the video version on YouTube: https://youtu.be/uWtHet5j5lQ Make a tax-deductible donation to Dad Saves America: ⁠⁠⁠⁠⁠⁠⁠⁠⁠…

People in this episode

Host: John Papola

Guest: Zohran Mamdani

Topics covered

• taxation
• budget deficit
• wealth tax
• political policies
• state finances

Keywords

• tax
• budget deficit
• wealth tax
• New York City
• California
• politics
• billionaires
• millionaires

Mentioned in this episode

Places: New York City, California, Florida, Texas

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