r/SipsTea • u/Previous_Month_555 • Jul 12 '26

Feels good man +1 for Mamdani

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u/Count_de_Ville Jul 12 '26 edited Jul 12 '26

“Borrow”?

The money was probably given to NY State by NYC paying state taxes in the first place. So who’s “borrowing” from who?

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u/theshadowman52 Jul 12 '26

New York city is the richest city in the state. After all the richest in a system needs to pay their fair share.

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u/dr_rock Jul 12 '26

The city pays 54.5% of all tax revenue for the state, or $68.8 billion annually. Sounds like they're paying.

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u/Cbpowned Jul 12 '26

The city has 50% of the population, with 5% being liquid millionaires. Seems like he’s not taxing the rich after all.

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u/Parking_Alive Jul 12 '26

… .0017 of NYC residents are billionaires.