NYC’s elites are tired of being painted as the enemy by Mamdani and his ilk
By Charles Gasparino
Published on May 10, 2026.
A friend of a prominent finance-related firm in New York City, who runs a large finance firm, is considering moving to Miami for office space and a house. This is not just about taxes, but also about the financial stability of the firm. The businessman, who employs many highly-paid individuals, all pay taxes in addition to their mortgages and grocery bills. They also donate to local charities, museums, and the opera. However, they are tired of being portrayed as the enemy by politicians like Zohran Mamdani, who believe rich people contribute to the city's affordability crisis by driving up rents. He also plans to tax second homes worth more than $5 million for non-residents who pay property taxes.
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