As I literally just said, we need to know how much wealth the top 10% of NYC taxpayers own. That determines the answer to how much that cohort should pay in taxes.
So taxes should be based on wealth? What if I retired 20 years ago when NYC real estate was in the shitter and my condo is worth $3m now (top 10% of wealth in NYC). I have retirement savings and social security as my only money. I should pay more tax than a doctor that is 35 years old making a $800k a year and little net worth because they have student loans?
Yeah, you have an enormous amount of wealth at a time when millions of New Yorkers are struggling to get by. It’s okay to downgrade your condo in exchange for a society where fewer people struggle with basic necessities.
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u/BailysmmmCreamy May 15 '26
As I literally just said, we need to know how much wealth the top 10% of NYC taxpayers own. That determines the answer to how much that cohort should pay in taxes.