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New York City mayoral candidate Zohran Mamdani, a democratic socialist, said Sunday he hopes to convince Wealthy New York City residents Paying increased taxes will improve “even their quality of life”.
“How do you bring these wealthy residents to the table? Stop them from saying they are leaving and going to Florida because we need tax revenue to pay for certain things you are talking about. How do you pay if they go?” Rev. Al Sharpton, host of MSNBC “Politics” asked Mamdani.
Mandani said the city’s top earners earn about $1 million a year, and stressed that he wanted them to stay. Sharpton followed up: “How do you get them to stay?”
“To some extent, it shows them that asking them to pay more taxes will increase their quality of life. Because when you ask New Yorkers what makes them uneasy in the city, you often hear from them, you hear about the cleanliness of our city, the security of our city, the affordability of our city. We don’t ask for taxes on increasing these taxes,” Mamdani responded. ”
New York Mayor’s Promising Zohran Mamdani cited capitalism on CNN, citing MLK to defend socialism
Rev. Al Sharpton shook hands with New York Mayor candidate Zohran Mamdani on Wall Street in New York City on August 28, 2025. (Michael M. Santiago/Getty Images)
Mandani said he hopes wealthier New Yorkers pay more taxes to fund free buses and create a new community security department.
“This relationship proves that taxes have led to this investment because we know it’s not just a fiscal policy to take someone from New York City to somewhere else,” he continued.
Mamdani argued that New Yorkers traveled to other high-tax countries such as California and New Jersey.
“For the highest 1%, we’re increasing their personal income tax by 2%. So if you make $1 million a year, the extra tax is $20,000. And the key responsibility is to pay it out and show them it’s a worthwhile investment.”
Bernie Sanders, Zohran Mamdani United ‘fighting oligarch’ in New York City
Democratic socialist candidate Zohran Mamdani won the New York City Mayor Democratic primary Zohran Mamdani spoke at a recognition event in New York City on July 15, 2025. (Spencer Platt/Getty Images)
Mamdani told NBC News in June “Meet the Media” “We shouldn’t have billionaires.”
Mamdani’s advertising website features A program called “Stop the Squeeze on New York City Homeowners,” which argues that New York’s current property tax system disproportionately allows wealthy white homeowners, especially in the wealthy portion of Manhattan and Brooklyn, to allow them to reduce taxes due to outdated assessed salaries.
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New York City Democratic mayor nominee Zohran Mamdani spoke to Prospect Park supporters on Sunday, August 17, 2025. (Deirdre Heaveny/Fox News Numbers)
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Fox News’s Michael Dorgan contributed to the report.
