The ‘mansion tax’ is all about de Blasio’s politics of resentment

Mayor de Blasio would really, really like to raise taxes on “the rich.” Reminding you of that looks to be his main point in calling for a new “mansion tax.”He doesn’t claim to need it to plug a hole in the city budget. It’s just that “the wealthiest...

The ‘mansion tax’ is all about de Blasio’s politics of resentment

Mayor de Blasio would really, really like to raise taxes on “the rich.” Reminding you of that looks to be his main point in calling for a new “mansion tax.”

He doesn’t claim to need it to plug a hole in the city budget. It’s just that “the wealthiest among us” will likely get tax cuts out of President Trump and the GOP Congress, so “it’s time that they pay their share of state and local taxes.”

So the mayor testified this week in Albany — which won’t grant his wish, since Gov. Cuomo beat him to the head of the soak-the-rich line with his call to extend the state “millionaires tax.”

Blas’ tax would be 2.5 percent on the sale of homes costing $2 million or more. And that would hit on top of the 1 percent “mansion tax” that already applies on sales of $1 million and up.

But in this crazy real-estate market, “mansion” is an odd fit. De Blasio’s $2 million mark would hit even some modest Manhattan studios. And the existing “mansion” levy hits lots of middle-class homes (and middle-class would-be homebuyers), with no sign it’s ever going away.

This tax isn’t about money — it’s about fostering and exploiting resentment.

The mayor says the new cash (more than $300 million a year) would go for, surprise, more “affordable housing,” this time for seniors. But he could find that money elsewhere — it’s loose change in the city’s $84.7 billion spending plan.

Which, incidentally, is up 18 percent on de Blasio’s watch.

Unless you’re not getting 18 percent more out of city government, you’re probably somewhere on his “needs higher taxes” list, too.

Our editors found this article on this site using Google and regenerated it for our readers.

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