No one will be shocked to learn that New York City Mayor Zohran Mamdani's pied-a-terre tax is more expansive than he let on. Mamdani said the tax only applied to wealthy people who owned secondary homes in the Big Apple that are worth more than $5 million.

But if you read the actual tax, that $5 million value only applied to one-, two-, and three-family homes. Condos and co-op units that are secondary homes are also taxed, and starting at a value of $1 million, or more.

That explains why there are 31,000 properties subject to the tax.

You get the government you vote for, sometimes good and hard.

There are going to be a lot of very unhappy rich people and a lot of seized properties. Which was the goal.

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No one is surprised by that. And when these properties cannot be taxed anymore, the tax will trickle down to all homeowners.

You'll own nothing.

Yes. 

Good luck, NYC.

Socialist tax schemes always hit everyone.

The destruction is the point.

Socialists have one goal: the destruction of society. That means no property ownership, no wealth, no freedom. The warmth of collectivism means you are all equally poor, oppressed, and crushed under the heel of the government.