Blue blob cities and states are in a race to the bottom, with NY continuing to self-destruct. You read last week about Kathy Hochul’s plan to tax second homes in New York City. Now the editors of The Wall Street Journal wonder if Hochul has joined the Democratic Socialists of America. They write:
New York Gov. Kathy Hochul hasn’t officially joined the Democratic Socialists of America, at least as far as we know, but maybe it’s time for Mayor Zohran Mamdani to make her an honorary member. This week Ms. Hochul proposed to help New York City balance its budget by squeezing nonresidents with a pied-à-terre tax on second homes.
The idea is to create a new tax on properties that are valued at $5 million or more and aren’t occupied as a primary residence. The details are still being worked out, but the Hochul administration says the goal would be to raise $500 million a year by taxing 13,000 homes. That’s a big bite taken from a small number of people, who might easily decide that keeping a place in New York isn’t worth the cost.
Fox 5 News in New York reports:
Action Line: The blue blob states and cities of America spend far more per person than other places, and still can’t get basic services right. Then, the solution is always to tax more. If you’re stuck in one of these places and you are looking for a better America, start your search with Your Survival Guy’s 2026 Super States. And click here to subscribe to my free monthly Survive & Thrive letter.
