Tax the Rich

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Our communities are suffering. Our public schools are owed millions in funding from the state (schools in district 34 alone are owed over $12 million), public housing infrastructure is crumbling, people are unable to pay rent, and many completely lack access to affordable healthcare. 

Meanwhile, there are 118 billionaires in New York, the second highest of any state. During the coronavirus pandemic which devastated our communities, wealthy people made hundreds of billions in profit during the pandemic. Hundreds of thousands of people died, small businesses lost revenue and had to close, and the unemployment rate skyrocketed as millions lost their jobs.

It is finally time the wealthy pay their fair share. We need to tax millionaires and billionaires, and we need to reject austerity budgets while there is more than enough money to go around. The solution to poverty is not less spending, it is more investments in healthcare, education, and job creation. 

I am running for State Assembly to ensure our communities have the resources we need. As Assembly Member,  I will support multiple avenues to tax the rich, including: 

  • Imposing higher income tax brackets on those making $5 million, $10 million, and $100 million 

  • Repealing wasteful tax incentives 421a and 485a which are given to developers to build an inefficient amount of affordable housing. Instead, we can invest that money in much needed public housing in New York.

  • Implement a pied-a-tierre tax on the second homes of the rich, who, despite having homes here, do not pay other state taxes.

  • Pass S.7378 (Jackson) /A10363 (Rosenthal), which would progressively raise revenue on those making $1 million or more in order to fully fund our public schools. 

  • Pass The Shares Act Bill (S.8329/A10450), which would raise taxes on those making $5 million or more in order to fund K-12 and high education. 

The history of the world shows that austerity does not work. Austerity did not help us get out of the Great Depression - massive investment in public works projects under FDR did. Austerity did not help us get out of the Great Recession of 2008 - the American Recovery and Reinvestment Act that President Obama enacted to provide stimulus and job creation. We should not be pursuing austerity policies. In New York state, we should be taxing the rich to create a more equitable economy and society.