New York City mayoral frontrunner Zohran Mamdani forcefully defended his call for a $30 minimum wage during the final debate of the race Wednesday night, warning that under the status quo, the expensive metropolis is at growing risk of becoming “a museum of where working-class people used to be able to live.”
The inability of many New Yorkers to make a livable wage in the city, Mamdani said, “is pushing them to live in Jersey City, to live in Pennsylvania, to live in Connecticut, because they can’t afford to live in New York City.”
Under Mamdani’s proposal, which would have to be approved by lawmakers, New York City’s wage floor would rise incrementally before reaching $30 an hour by 2030. The minimum wage would then be tied to either cost-of-living increases or worker productivity jumps.
LA put a mansion tax on homes selling over a certain value and I was told it would crash the market…spoiler it didn’t.
Kinda wish it would’ve crashed the market. Maybe then it’d slow folks getting pushed into the Inland Empire and crash the construction of housing tracts
The rich will always have a soft landing when there’s a crash (many even profit from it). Best way to liberate their wealth from them is through taxation.
Because instead we should have high density apartment complexes owned by corporations and no one will ever own their own property and constantly be paying rent to the companies?