Lying Mamdani Invents Budget Emergency to Justify Massive Tax Hikes

In Michael Bloomberg’s final year as mayor in 2013, New York City actually had a balanced budget. However, under the Marxist mayor Bill De Blasio, New York City’s budget deficit exploded. And continued under Mayor Eric Adams.

Now the Communist Zohran Mamdani is in charge of New York City. And he want’s to do what every Communist does. Steal money from the producers. Be prepared for New York City’s to eventually go bankrupt, since Mayor Mamdani will drive out the individuals and corporations that generate the tax revenue. Horrible.

🚨 JUST IN: New Yorkers are in a state of SHOCK after Ugandan Mayor Zohran Mamdani says NYC now faces a "fiscal crisis at a scale of the GREAT RECESSION"

His plan: "Raising taxes on wealthy New Yorkers and profitable companies."

Yikes. Best of luck, NYC.pic.twitter.com/CchzRUwnjo

— Eric Daugherty (@EricLDaugh) January 28, 2026

NY Post:

Mayor Zohran Mamdani assembled the City Hall press corps Wednesday to announce his shock at finding a $12 billion budget hole . . . that everyone worth his salt has been flagging for a year.

Heck, a hole that Mayor Eric Adams warned about in 2023 at the height of, and as a result of, the migrant crisis.

Mamdani’s pretend budget crisis (more threatening than the Great Recession, he claims) is designed purely to gin up support for soak-the-rich tax hikes to fund his promised billions in new spending.

(Or, if the city’s lucky enough, to give him an excuse for failing to deliver on his promises.)

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He’s trying to avoid an outright break with Gov. Kathy Hochul, but wants his allies in the Legislature to bully her into OK’ing state corporate and personal-income tax hikes even though she knows that could threaten her re-election hopes.

Fiscal discipline isn’t optional. Manufacturing a “crisis” to justify higher taxes and more spending ignores first principles: budgets must be honest, incentives matter, and free societies can’t tax their way to prosperity. https://t.co/KO6jGOzfxJ

— Steve Forbes (@SteveForbesCEO) January 30, 2026

Meanwhile in NYC they have a new mayor….🤮😳 pic.twitter.com/f7GvuehwJp

— Clerpatriot (@clerpatriot) January 30, 2026

New York City’s budget is $112 billion for 8.8 million people.

The budget for the entire State of Florida is $117 billion for 23.3 billion.

See the problem? 🕵️HINT: It’s not revenue. https://t.co/CPJAA1nWv0

— Rep. Nicole Malliotakis Office (@RepNicole) January 30, 2026

New York Mayor Mamdani says city must hike taxes on wealthy to fill $12 billion deficit

• New York City Mayor Zohran Mamdani said the Big Apple’s wealthiest residents must pay more in taxes to help close a looming budget deficit that tops $12 billion.
• Mamdani, a Democrat, downplayed fears from some of the city’s business elite that tax hikes will lead to capital flight.
• He pointed to potential budget savings, citing the Adams administration launching a “basically unusable” AI chatbot that reportedly cost about $600,000 to develop.

By CNBC, Jan 28th, 2025

New York City Mayor Zohran Mamdani on Wednesday said the city’s wealthiest must pay more in taxes to help fill the staggering budget deficit of more than $12 billion that he was left by his predecessor.

“This is at a scale that’s actually greater than what we saw here in New York City during the Great Recession,” Mamdani said of that budget hole during an interview with CNBC “Squawk Box” co-anchor Andrew Ross Sorkin at City Hall.