Mamdani’s ‘tax the rich’ slogan is ‘just as hateful’ as racial slurs, New York real estate titan says

ThatRobGuy · May 6, 2026

https://www.cnn.com/2026/05/06/business/mamdani-taxes-real-estate

New York —
No one likes higher taxes. But New York City Mayor Zohran Mamdani’s plan to tax wealthy residents’ second homes has elicited a highly emotional response from two of the city’s richest.

“Creepy and weird,” is what Ken Griffin had to say Tuesday at a conference about Mamdani’s campaign-style video touting the tax outside the hedge fund manager’s $238 million penthouse.

Steven Roth, the CEO of real estate giant Vornado, went further Tuesday on an earnings call.

“I consider the phrase ‘tax the rich’ when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs and even the phrase, ‘from the river to the sea,’” Roth said, referring to the pro-Palestinian phrase that the Anti-Defamation League labels an antisemitic threat.

This could make for an interesting conversation...

While I would personally critique Roth's approach of comparing a current financial situation to an immutable characteristic like race, perhaps the door has already been kicked open for people to define their own "here's what should be considered protected classes based on my opinion and current situation" grading standard.

"Being real-estate savvy is part of who I am, I can't control it, I didn't choose to proficient at doing this" isn't any more ridiculous than some other claims we've seen over the past few years.

MarcusGregor · May 6, 2026

"guy who is inconvenienced by law is critical of law. Makes offensive and hyperbolic statements about law. News at 11"

Richard T · May 7, 2026

Tax the rich! Equal to a racial slur?

"The rich who Mamdani and other political leaders target “are the epitome of the American dream” and the largest employers and philanthropists, Roth said. “They are at the top of the great American economic pyramid for a reason. They should be praised and thanked.”

Forgive my hyperbole too but let's praise the Pharaoh of Egypt. "Ramesses II, the most famous candidate, used his immense wealth to build entire cities and monuments, which provided jobs and stability for his people for over 60 years."

Does the bible say to praise and thank the rich or just to be impartial? (James 2). Is taxing the rich impartial? Seems you can't tax the poor enough, so it is rather a reality of economics if a government wants to add more services. Jesus himself was pretty hard on the rich man who wanted to inherit heaven.

I suppose if you feel discriminated against, you can always choose to give away all your money. Alternatively, you can vote with your feet. State's with a homestead exemption always tax second homes more. Is that unfair?

Consider too that earnings from hedge funds are treated differently than income. As a hedge fund manager, you are taxed the management fee on the 2% or so you earn from the fund. On the profits from the hedge fund going up in value, you are taxed not as income but it is called "carried interest." This tax maxes out at just 20% as it is not considered "income." Of course that is federal taxation but still relevant in the whole scheme of things when the article considers a hedge fund owner.

I do think it is "creepy and weird" for the mayor to go in front of the 300 million valued home to propose his new tax. but in recent years politicians have been doing such stunts to garner support for all sorts of activities; something the Trump administration is especially keen to do.

Landon Caeli · May 7, 2026

Mamdani proposes kindergarten style politics, rather than studying history and seeing from where the problems arose, and fixing them there.

Richard T · May 7, 2026

I read Mamdani's proposals center on 3 ways to generate more income. First, are these luxury home taxes. That one seems doable, even if the current people leave new owners will take their place. It will effect values though if the tax rates are higher.
The second is to raise the city income tax. Can't be done without state approval. So dead in the water I presume.
The third is to raise corporate taxes on NYC firms. That too requires state approval.
Though I do not share all of the mayor's ideology. He inherited around a 12 billion dollar deficit. While I would cut services, the voters seem to want more services and thus the responsible thing is to raise revenues. This is far better than politicians who seek to increase deficits forever which is impossible at the city level. I figured Mamdani will end up spending the new revenues rather than reduce the deficits but I read he is working on ways to reduce spending in some areas too. Though the bonds are mostly AA rated now, NYC is on credit watch. Again the easy solution would be to cut spending even more, but the voters are not interested so much so they get the government they deserve like much of the rest of America.

Nithavela · May 7, 2026

Well, if you can't trust the super rich with money, then who can you trust? The poor? They'll just spend it!

Laodicean60 · May 7, 2026

In Mamdani's class warfare, he's creating a dangerous situation for rich individuals and business owners. I guess this works for the younger generation, but I was raised to work hard to achieve the American dream, not be envious of those who are achieving it. The dude needs to understand that the rich have the freedom to move.

Richard T said:
Jesus himself was pretty hard on the rich man who wanted to inherit heaven.

Yes, but the doctrine that paints all rich men as such is wrong. The way I read Matthew 19:16–30 is that Jesus was teaching the young and a little arrogant kid that No One is good enough (including Jesus himself?).

Matthew 19:17 So He said to him, “Why do you call Me good?[fn] No one is good but One, that is, God.[fn] But if you want to enter into life, keep the commandments.”

Richard T said:
He inherited around a 12 billion dollar deficit.

I believe it was a policy error.

GoldenBoy89 · May 7, 2026

lol what a baby.

What is with these rich dudes wanting to be seen as victims? Get over yourself bro. Pay your taxes.

Richard T · May 7, 2026

Laodicean60 said:
In Mamdani's class warfare, he's creating a dangerous situation for rich individuals and business owners. I guess this works for the younger generation, but I was raised to work hard to achieve the American dream, not be envious of those who are achieving it. The dude needs to understand that the rich have the freedom to move.

Yes, but the doctrine that paints all rich men as such is wrong. The way I read Matthew 19:16–30 is that Jesus was teaching the young and a little arrogant kid that No One is good enough (including Jesus himself?).

Matthew 19:17 So He said to him, “Why do you call Me good?[fn] No one is good but One, that is, God.[fn] But if you want to enter into life, keep the commandments.”

I believe it was a policy error.

Agree, God gift certain men to be wealthy to fund his kingdom. Yes, any large debt is a sign of poor policy usually unless that debt is geared to seriously promote the future.

ThatRobGuy · May 7, 2026

GoldenBoy89 said:
lol what a baby.

What is with these rich dudes wanting to be seen as victims? Get over yourself bro. Pay your taxes.

So you don't know why a rich person wouldn't want a person demonizing them specifically via a press conference in front of their house (thereby letting a bunch of potential nutjobs know their whereabouts) and blaming them for societies ills and portraying them as "the enemy"?

This could be possibly be why...

GoldenBoy89 · May 7, 2026

ThatRobGuy said:
So you don't know why a rich person wouldn't want a person demonizing them specifically via a press conference in front of their house (thereby letting a bunch of potential nutjobs know their whereabouts) and blaming them for societies ills and portraying them as "the enemy"?

This could be possibly be why...

View attachment 379231

I don’t really care. That’s exactly what they do to poor people. You got rich, powerful people like the President demonizing regular citizens. These guys can afford to hire private security if they don’t feel safe. I don’t have that luxury.

durangodawood · May 7, 2026

Tax the rich is an absolutely great idea. Start by not privileging investment income over wage/salary income.

Maria Billingsley · May 7, 2026

ThatRobGuy said:
https://www.cnn.com/2026/05/06/business/mamdani-taxes-real-estate

New York —
No one likes higher taxes. But New York City Mayor Zohran Mamdani’s plan to tax wealthy residents’ second homes has elicited a highly emotional response from two of the city’s richest.

“Creepy and weird,” is what Ken Griffin had to say Tuesday at a conference about Mamdani’s campaign-style video touting the tax outside the hedge fund manager’s $238 million penthouse.

Steven Roth, the CEO of real estate giant Vornado, went further Tuesday on an earnings call.

“I consider the phrase ‘tax the rich’ when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs and even the phrase, ‘from the river to the sea,’” Roth said, referring to the pro-Palestinian phrase that the Anti-Defamation League labels an antisemitic threat.

This could make for an interesting conversation...

While I would personally critique Roth's approach of comparing a current financial situation to an immutable characteristic like race, perhaps the door has already been kicked open for people to define their own "here's what should be considered protected classes based on my opinion and current situation" grading standard.

"Being real-estate savvy is part of who I am, I can't control it, I didn't choose to proficient at doing this" isn't any more ridiculous than some other claims we've seen over the past few years.

Look at it this way, by taking the tax hit touted by Mamdani, he could be helping the souls of some of these people. Afterall, the love of money is percicly why it is difficult for those to enter the Kingdom of God. Strip the money, expose the heart. Hardly a racial slur!

"It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God" (Matthew 19:24).

Blessings.

ThatRobGuy · May 7, 2026

durangodawood said:
Tax the rich is an absolutely great idea. Start by not privileging investment income over wage/salary income.

Purely semantically speaking, so is "Making America Health Again", that's a fantastic idea in strict sence... but we all understand the concept of loaded political language, and understand that when certain people say certain things, it carries a little more than just it's plain-text semantic meaning.

ThatRobGuy · May 7, 2026

Maria Billingsley said:
Look at it this way, by taking the tax hit touted by Mamdani, he could be helping the souls of some of these people. Afterall, the love of money is percicly why it is difficult for those to enter the Kingdom of God. Strip the money, expose the heart. Hardly a racial slur!

"It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God" (Matthew 19:24).

Blessings.

If people want to have that religious belief, that's fine, but it's not a basis for tax policy. And I'd highly doubt that Mamdani is leveraging Matthew 19:24 as a basis for his tax proposals.

durangodawood · May 7, 2026

ThatRobGuy said:
Purely semantically speaking, so is "Making America Health Again", that's a fantastic idea in strict sence... but we all understand the concept of loaded political language, and understand that when certain people say certain things, it carries a little more than just it's plain-text semantic meaning.

I have as much problem with the phrase maha as I do with tax the rich. Zero. If maha gets the abysmally unhealthy rural Trump base to consider their living habits, then great.

ThatRobGuy · May 7, 2026

durangodawood said:
I have as much problem with the phrase maha as I do with tax the rich. Zero. If maha gets the abysmally unhealthy rural Trump base to consider their living habits, then great.

Right, but we know it often comes bundled with some other misguided ideas and ideological "buy-ins".

So much like "MAHA" often comes bundled with some rather peculiar ideas about MMR vaccines or thinking beef tallow is magic, "Tax the Rich" often comes bundled with some leftist collectivism ideas about redistribution and the size of the public sector.

durangodawood · May 7, 2026

ThatRobGuy said:
Right, but we know it often comes bundled with some other misguided ideas and ideological "buy-ins".

So much like "MAHA" often comes bundled with some rather peculiar ideas about MMR vaccines or thinking beef tallow is magic, "Tax the Rich" often comes bundled with some leftist collectivism ideas about redistribution and the size of the public sector.

So what? That doesnt make it a "slur".

Desk trauma · May 7, 2026

Aww, the poors are pushing back! No fair!

ThatRobGuy · May 7, 2026

durangodawood said:
So what? That doesnt make it a "slur".

That's why I mentioned that I objected to the the guy comparing it to a racial thing.

But it can spark violence. Fauci and a few other former public health officials need round the clock security now because of anti-vaccine statements and sentiments (that weren't actual slurs) sparking anger.

Much like standing out in front of a rich guy's house giving followers the impression "if your life it bad, it's because of people like this guy are greedy" in the same city where a high profile incident occurred with a CEO getting gunned down, can spark certain behaviors in people.

Mamdani’s ‘tax the rich’ slogan is ‘just as hateful’ as racial slurs, New York real estate titan says

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