Dear Mayor Mamdani, Just Wondering, Are You Planning To Pay Your Own Millionaires' Tax?

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Dear Mayor Mamdani, Just Wondering, Are You Planning To Pay Your Own Millionaires' Tax?

  • Our new socialist Mayor Zohran Mamdani has proposed many destructive initiatives. But if there is one that stands out above all the others as his signature issue, it is his plan to raise income taxes on the “ultra-wealthy,” which he has defined as those people earning $1 million of more per year.

  • The City of New York does not have the authority on its own to raise income tax rates, either at the State or City level, so he has requested that the State Legislature enact his proposed premium taxes on “millionaires.”

  • Here’s what I’m wondering: If the Legislature goes along with Mayor Mamdani’s request, does he plan to pay the new taxes himself?

  • We know the answer to that — of course he doesn’t intend to pay the premium “millionaire” rates. But why not?

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A New Line Of Attack On New York's Rent Regulation Regime

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  • In New York’s large suite of self-destructive public policies, it’s hard to choose which one is the very worst. But an excellent candidate is the regime for regulation of residential rents, mostly going by the name of Rent Stabilization.

  • Because of rent regulation, New York’s rental housing stock is older, more outdated, and less well-maintained than the housing of any other American city. If you got yourself into one of the regulated apartments a few decades ago, you likely enjoy a significant bargain on your monthly rent versus comparable space, to go along with your 30- or 40-year old kitchen and bathroom fixtures and appliances, and insufficient electricity to run a toaster and a hair-dryer at the same time. Try to upgrade to something a little more up-to-date and you will find that your rent will triple, so you are locked in to this one apartment for life. Meanwhile, kids just out of school who have gotten an entry-level job in New York and try to break into the rental market find that they face the highest rental prices in the country. In other words, it’s the progressive vision of perfect justice and fairness for all.

  • Another effect of the regulation regime has been to seriously degrade the value of the buildings and apartments subject to the rules. So you might ask, if the price control regime takes away all or most of the value of a property, doesn’t this at some point become a “taking” under the 14th Amendment of the U.S. Constitution, giving the property owners the right to seek “just compensation” from the state for the loss of value?

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Climate Change -- Where The Experts Make Fools Of Themselves

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  • Much has been written recently about the death of expertise in America. On one subject after another, those claiming to be experts have proved to be completely wrong. Covid provided multiple examples: from the origins (did it come from a lab leak?), to the efficacy of vaccines, to the necessity of lockdowns and “social distancing.”

  • Another famous example was the Hunter Biden laptop, stated by 50+ “experts” from the intelligence community to carry “the classic earmarks” of “Russian disinformation.”

  • But has there been any area where self-proclaimed experts have more made fools of themselves than the area of “climate change”?

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New York "Climate" Policy Approaching The Cliff

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New York "Climate" Policy Approaching The Cliff

  • For a few years now, it has been blindingly obvious that New York had over-promised and over-committed on impossible “climate” goals that could not be achieved. In various posts I have referred to this as an approaching “cliff,” or perhaps as the “green energy wall.” It has been entertaining to ponder what the final disaster might look like.

  • This week has had a lot of developments. Most interesting is the growing split among the governing Democrats between, on the one hand, those who see disaster coming and are looking for some kind of graceful exit and, on the other hand, those pushing full speed ahead to go over the cliff.

  • It may already be too late for New York to have any graceful exit from its self-inflicted predicament. Nevertheless, my official position is that I am advocating for New York to take the most graceful possible exit while it still can. But I have to admit that secretly I am hoping for the most aggressive advocates to get their way and take New York over the cliff. Hey, I’ll wait out the blackouts somewhere else, and maybe a critical mass of the voters will finally wake up.

  • So let me just give you some straight reporting on the latest developments.

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Under What Theory Should Iran Be Immune From Lethal Response To Its Actions?

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  • In today’s world, there are 193 countries in the UN. The large majority of those countries will vote consistently against the United States on measures that come before the General Assembly.

  • Then again, the international system that counts is not the UN, but rather the U.S.-led commercial and legal order of alliances and trade. Almost all of the 193 UN member countries participate willingly in that system, to their great benefit. They may oppose the U.S. on many issues, and they may have disputes with their immediate neighbors, but they don’t make themselves constant troublemakers threatening to disrupt world peace and international trade.

  • And then there is that small number of countries that are engaged in some kind of continuous arms-supported opposition to the dominant U.S.-led order. Out of the 193 countries in the UN, recently that group has consisted of a cohort of six: China and Russia as the big two, plus the likes of Iran, Venezuela, Cuba and North Korea. Each of these countries has taken its own approach to trying to resist and disrupt the U.S.-led international order.

  • But even among this group of rogue states, Iran has long stood out as the one state actor that engages in frequent and lethal armed attacks against other countries that are not at war with it and have not attacked it.

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Why Government Can't Solve All Human Problems: A Health Care Example

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  • Here’s something nearly everyone can agree on: healthcare in the United States is too expensive. Private health insurance premiums rise inexorably well above the rate of inflation, and so do the costs of government subsidized healthcare like Medicare and Medicaid. And if you face a big medical issue without insurance, the bills could well come to more than you could ever pay.

  • So what’s the answer? To the Left, it’s easy: a “single payer” system, sometimes called “Medicare for all.” In simple terms, the federal government pays for all the medical expenses of everybody. The money comes out of the infinite pile of federal loot. No individual ever has to worry about a medical bill. Prominent backers of the “single payer”solution to healthcare costs include the likes of Bernie Sanders and Elizabeth Warren, as well as organizations like Physicians for a National Health Program.

  • The flaw in this approach is something that is not intuitive to most people.

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