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Zohran Mamdani’s Proposal For A Millionaire Tax (www.fascinatingworld.org)

submitted 2 weeks ago by cm0002@lemmy.world to c/nyc@lemmy.world

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[–] Septimaeus@infosec.pub 6 points 2 weeks ago (2 children)

an additional 2% income tax on the top 1% in NYC, who are earning over $1 million per year

That’s a slightly different definition of “millionaire” than I was familiar with. Who is calling it that again?

[–] explodicle@sh.itjust.works 5 points 2 weeks ago (1 children)

People who can tax income but can't meaningfully tax net worth.

[–] Septimaeus@infosec.pub 4 points 2 weeks ago

Fair. But to be clear, I’m suggesting conservative media outlets have latched onto this nickname to intentionally mislead a significant number of New Yorkers to believe the tax will affect them (because they or someone they know has a net worth of more than 1 million between life savings or property in the city) when it actually only applies to a select few who earn more than that every year.

The Mamdani campaign hasn’t used that nickname. Here is the first use of “millionaire tax” I could find. That was 4 days ago. By the following day, every major news outlet was running headlines with that nickname. I think it’s no accident.