this post was submitted on 27 Oct 2025
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In taxes, about a few billion annually. 2% increase in income tax on over $1 million, 11% at the top of the corporate tax bracket. To be clear about the brackets, they would be paying more on amounts over $1 million, you pay the percentage for each bracket.
So not devastating their profits at all, they would still be raking it in.
Long term he could be representative of a larger shift in approach, especially among blue states (where the overwhelming majority of profits can be found). Again, not devastating to profits or income, just making the ultra wealthy pay their part.
Massachusetts has a similar approach now which has given them around $5 billion annually.
That's about what I thought. I really doubt they're spending anywhere close to that on the current campaign. Even if they thought it was worth it, how do you even spend that much money on ads that target one city?
Easy, you don't target just the city. Or one campaign. Or even a campaign, there are some who set up the same sort of PAC - not to get a candidate elected, but specifically to oppose him getting elected.
If they were targeting just NYC, do you think you'd know this much about mamdani?
That said, some billionaires spent another $20+ million just last week. Some went to campaigns, some went to opposing mamdani. That was last week, and only some of the billionaires. Anti-trans and anti-immigrant groups are donating and running ads elsewhere. They are lobbying against mamdani and other for Cuomo in DC to try and get those reps to make statements.
Official spending? Not remotely near a billion. I'd say the campaign has officially spent $20mil or less.
Unofficial spending is going to be quite a bit more. I don't think its in the multiple billions, no. But I would say its a safe assumption to put it in the hundreds of millions.
hundreds of millions < what Mamdani's policies are probably going to cost them
I don't believe I ever said otherwise, so I have no idea what you're driving at.