When New York City Mayor Zohran Mamdani ran for mayor, he promised affordability and lower costs.
His campaign platform reads, "New York is too expensive. Zohran will lower costs and make life easier."
It took less than two months for Mamdani to run out of money. Now, he's trying to hike property taxes, tax the so-called rich to fill a $5.4 billion budget deficit, and raid rainy day funds.
This week, Mamdani pitched a record $127 billion budget. He blamed the past leadership’s fiscal management, yet he refused to cut expenses.
Mamdani gave two options to fill the budget deficit: hike taxes on the rich and large companies or hike property taxes on New York City property owners. But he doesn't offer a third option to cut down the city's massive budget.
As Margaret Thatcher once said: The problem with socialism is that you always run out of other people’s money. Mamdani now seeks a 10 percent property tax increase, which will likely raise the price of rent.
This week, Mamdani pitched a record $127 billion budget. He blamed the past leadership’s fiscal management, yet he refused to cut expenses.
Today, I’m releasing the City’s preliminary budget. After years of fiscal mismanagement, we’re staring at a $5.4 billion budget gap — and two paths.
— Mayor Zohran Kwame Mamdani (@NYCMayor) February 17, 2026
One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between…
Mayor Mamdani Presents Fiscal Year 2027 Preliminary Budget https://t.co/Dd0ljoUTN3
— Mayor Zohran Kwame Mamdani (@NYCMayor) February 17, 2026
Mamdani ran as a Socialist. Plans to raise taxes.
— Darrell Issa (@DarrellIssa) January 30, 2026
Spanberger ran as a Moderate. Plans to raise taxes.
Bottom line:
No matter what the Democrats pitch, they will raise your taxes.
Top 1% of income earners in NYC pay over half of total income tax revenue, which is the core of city’s budget
— Sar Haribhakti (@sarthakgh) February 18, 2026
It’s very telling he thinks the only way out is to tax more. The idea of making spending more effective and efficient is not even a consideration https://t.co/gUauPYGugU
Due to a slight rounding error, it looks like socialism might not actually work in NYC after all. My bad pic.twitter.com/zwzoQq30js
— Lyle Culpepper (@ShutupLyle) February 18, 2026
You forgot the third option: cut back on spending.
— Brianna Lyman (@briannalyman2) February 17, 2026
The burden is on the government for being fiscally irresponsible and taxpayers shouldn't bear the burden because city leaders can't manage the current tax revenue. https://t.co/3g3esduKMu
Zohran Mamdani just proposed a preliminary budget of $127 Billion for NYC…
— Geiger Capital (@Geiger_Capital) February 17, 2026
The entire state of Florida is $117 Billion. pic.twitter.com/6nA3ECngVL
🚨 BREAKING: Many New Yorkers are livid after Ugandan Mayor Mamdani says he needs to RAID the RETIREE fund and raise property taxes just to help cover the budget shortfall
— Eric Daugherty (@EricLDaugh) February 17, 2026
He'd also need to "raid our rainy day fund"
You REALLY asked for it, NYC! 🤯pic.twitter.com/4swDQZUbOx