Zohran Mamdani, the Democratic nominee for New York City mayor, said he would seek to persuade wealthy residents to accept higher taxes by arguing the revenue would improve quality of life across the city.
On MSNBC's PoliticsNation, hosted by Rev. Al Sharpton, Mamdani outlined a plan to raise personal income taxes for the top 1% by 2 percentage points — an increase he said would amount to roughly $20,000 a year for someone earning $1 million — and direct the funds to programs including free buses and a new Department of Community Safety.
"How do you bring these wealthy residents to the table as mayor? Stop them from saying they’re leaving, going to Florida because we need that tax revenue to pay for some of the things you’re talking about," Sharpton asked. Mamdani said the city needs to show those residents that paying more would "increase even their quality of life," citing concerns New Yorkers raise about cleanliness, safety and affordability.
Mamdani said his approach would be to connect the tax increase directly to visible investments so wealthier residents would see tangible returns. "That relationship, proving that that tax dollar leads to that investment," he said, "because we know that it’s not just a fiscal policy that takes somebody from New York City to somewhere else."
The candidate, who has described himself as a democratic socialist, has made other remarks this year signaling a broader critique of wealth concentration. In June on NBC's Meet the Press he said, "we shouldn't have billionaires." His campaign website outlines a policy titled "Stop the Squeeze on NYC Homeowners," arguing that the city's property tax system disproportionately benefits affluent homeowners, particularly in Manhattan and parts of Brooklyn, through outdated assessment caps.
Mamdani said he wants to keep high earners in the city rather than push them to relocate. He also argued that New Yorkers have left for other high-tax states such as California and New Jersey, and said the point of his proposed increases is not to raise revenue for its own sake but to fund specific services and improvements.
The 2% increase on the top 1% is one element of a broader platform that includes public transit subsidies and a new municipal safety agency intended to address neighborhood concerns. Mamdani said it would be his responsibility, if elected, to ensure that those investments materialize and are clearly tied to the additional tax burden.
The comments come as Mamdani, who won the Democratic primary earlier in the campaign, seeks to consolidate support among progressive voters while persuading more moderate and affluent New Yorkers that his proposals would benefit the city as a whole. His call for higher taxes on the wealthy joins an ongoing citywide debate about revenue, public services and residential flight.
Reporting for this item included coverage by Fox News. Mamdani's proposals and comments were made on national television and appear on his campaign website as part of his mayoral platform.