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To the editor:
Queens Borough President Donovan Richards perfectly described the consequence of raising property taxes when he said that would "force people out of their homes." This is especially true of the high increase of 9.5 percent that Mayor Zohran Mamdani is proposing if the state legislature and Governor Kathy Hochul don't raise income taxes on wealthy individuals and corporations.
Now I'm all for increasing income taxes on those people and entities most able to pay. But getting those with the power to actually do this is another story.
But raising property taxes is not an acceptable alternative.
The fact that a person can afford to buy a home does not mean that he or she will later in life be able to afford to pay higher taxes on it. Between the home's value increasing and a higher tax rate placed on it, the owner will have trouble paying if that person's income remains stagnant or decreases.
As for those who argue that higher taxes on wealthy individuals and corporations will drive them out of the city, that is questionable. I don't think rich people who like living and doing business in the city will suddenly leave as a result of tax increases they can easily afford to pay. But many lower income people are actually leaving the city because they find it unaffordable.
Also, a $30 million cut in funding for libraries will not make a dent in a multi-billion dollar deficit. But that will hurt young people who rely on libraries. Mamdani needs to comb through his $227 billion budget to find as much waste as possible to slash. This way he might be able to afford to pay, among other things, fair salaries for underpaid city workers, especially EMS employees.
We don't need him to follow in the steps of his predecessors who claimed to be the workers' friend but showed stinginess when negotiating contracts.
Richard Warren
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Valete
As the Great British Prime Minister Margaret Thatcher said:
The problem with socialism is that you eventually run out of other people’s money.
When Democrats and Socialists say they intend to raise taxes on the wealthy, they lie!
Their true goal is to raise taxes on the middle class.
So, when you hear politicians make a speech about taxing the wealthy, put your hands in your pockets and run!
Thursday, February 26 Report this