The Democrats always campaign on taxing the rich, until they realize there aren't enough wealthy people to support their massive spending programs, and that wealthy people have the means to flee high-tax states. That invariably leads to Democrats taxing everyone, including the working class, which doesn't have the ability to fight back or flee.
In New York, Zohran Mamdani — who campaigned on targeting the rich — is now proposing an insane change to the state's estate tax, and it's one that would rob a lot of New Yorkers of generational wealth.
Mamdani, along with Governor Kathy Hochul, is looking to jack up the estate tax to 50 percent and lower the threshold for when it kicks in to a much lower level: from $7 million to $750,000.
Zohran Mamdani is proposing to raise NY's estate tax to 50% and have it kick in at $750,000 instead of more than $7 million https://t.co/VAJuZFSFV3
— Bloomberg (@business) March 13, 2026
New York City Mayor Zohran Mamdani wants to slash New York state’s estate tax exemption threshold by almost 90%, from a more than $7 million limit to $750,000, and raise the top estate tax rate from 16% to 50%.
The proposal was included among nearly a dozen potential revenue-raising ideas Mamdani’s office circulated in a memo in recent weeks to state lawmakers negotiating the state budget. Mamdani is facing a $5.4 billion city budget deficit for the fiscal year that begins July 1, and is seeking help from the state legislature in raising money to close the gap.
The change Mamdani is supporting would be significant. New York is already one of a dozen states that impose separate state-level estate taxes on top of federal estate taxes. If the change were enacted, New York’s estate tax exemption threshold would be the lowest in the US.
That's a 90 percent reduction in the estate tax threshold.
So according to Mamdani this tiny condo is an estate? 🙄 pic.twitter.com/rOI9OE6hSo
— Kristen Mag (@kristenmag) March 13, 2026
Yep. Pay up.
North Carolina is completely full. I just checked.
— MAZE (@mazemoore) March 13, 2026
So are Florida and Texas.
This is how Mamdani takes all the property in NYC. Anytime anybody dies, NYC will pay the owner 50% of the value and take the house as payment for the tax.
— El Jefe (@ElJefeTwoloom) March 14, 2026
That’s how you get around eminent domain.
You'll own nothing, and you'll like it.
Real estate is going to crater in NYC because there will be a race to sell first. The city is completely screwed. Anyone in NY politics should be looking for ways to jettison this liability.
— Jonathan Levin (@JNLevin) March 14, 2026
Collapsing the value of property and abolishing private homeownership are goals of Cea Weaver, Mamdani's housing advisor. This will do it.
The rich must pay! https://t.co/SqeRMBUbAF pic.twitter.com/RDkoHJzKwD
— The Hudson River School (@YeOldeYank) March 14, 2026
Look at those greedy rich people.
“Hello I just arrived from Africa five minutes ago and was elected mayor. All of the wealth your family has spent generations building is mine now.” https://t.co/0JhepTxGGQ
— Logan Hall (@loganclarkhall) March 13, 2026
"And you're greedy if you want to leave your house and wealth to your kids."
This is the “rich” he is talking about btw… https://t.co/yoimsmI6b1 pic.twitter.com/IlniaWJeWa
— Just a Dude Who Invests (@DudeWhoInvests) March 15, 2026
No one is going to buy a house in NYC knowing they'll lose half of it in taxes when they die. Which is the plan.
$750,000 in NYC is not an "estate" - it's a 1-bedroom apt with a $1,400 monthly maintenance fee. He's going after the working/middle class. https://t.co/v0tKkbfIyc
— Jean (@queens_parents) March 13, 2026
That's what communists always do. The working and middle classes are an obstacle to their communist agenda.
Tip: When commies tell you they only wanna punish the “rich” what they don’t tell you is that they plan to redefine “rich” to include you https://t.co/8zZKlRgIdI
— Sunny (@sunnyright) March 14, 2026
You are always richer than someone else.
Under socialist New York City mayor Zohran Mamdani .... estate taxes (death tax) will hit hard at $750,000 and above.
— Wall Street Mav (@WallStreetMav) March 15, 2026
50% on your assets above $750,000.
"TAX THE RICH" https://t.co/DaC5wRoISH pic.twitter.com/QZFt4FgEq5
Check out all the mansions.
They’re just getting started
— @jason (@Jason) March 15, 2026
The goal is 65% of everything you make.
They’re going to get there, and then the most productive folks will leave. https://t.co/WLPOfMstJX
That's the low end of the goal. They'd take 100 percent of what you make if they knew they could get away with it.
New York keeps proving my point. First higher income taxes, now a 50% estate tax starting at $750,000.
— Senator Dave McCormick (@SenMcCormickPA) March 13, 2026
If you’re a family, small-business owner, or retiree who wants to keep more of what you built, come to Pennsylvania.
The offer still stands—head west on I-80. https://t.co/i0TlK730WO pic.twitter.com/e5b4C0UUSt
And stop electing Democrats into power. This won't stop in New York. Democrats think everything you earn and own belongs to them, and they'll stop at nothing to take it from you.
Editor’s Note: New York City is now facing the consequences of Mayor Zohran Mamdani’s socialist takeover.
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