wealth and taxation with his proposal to impose a 2% income

New York City’s newly elected mayor, Zohran Mamdani, has reignited a long-standing debate on wealth and taxation with his proposal to impose a 2% income tax increase on New Yorkers earning over $1 million annually. The plan dubbed the “millionaire tax” is part of a broader progressive agenda aimed at reducing inequality and funding key social initiatives, including free city bus services and a rent freeze across the five boroughs.
 

 
 

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