I think New York will be forced to cut spending. Raising taxes will result in an exodus.
馃憠馃従 #Mamdani says tax hike is needed to stop 'fiscal crisis.' Critics aren't buying it. https://gothamist.com/news/mamdani-says-tax-hike-is-needed-to-stop-fiscal-crisis-critics-arent-buying-it
@darnell here is the pattern in Providence RI. Year 1 confront the fiscal emergency with significant tax hikes and cuts. Years 3/4 say it worked and hold the line. Run on stabilizing the taxes and finances. This ensures the pain and revenue is front loaded giving you time for your policy and for people to forget.
Pension debt in Providence makes this a limited game but it works.
@darnell We didn't have an exodus from MA when we added a "millionaires' tax", but it also occurs to me that NYPD costs an awful lot of money and they tend terrible.
