U.S. President Donald Trump on Thursday criticized New York City Mayor Zoran Mamdani’s proposal to raise taxes on wealthy property owners, warning it could harm the city’s economy.Trump said in an article published in “Truth Social”, “Sadly, Mayor Mamdani is destroying New York! It has no chance! The United States of America should not be responsible for its failure.”“It’s only going to get worse. Taxes, taxes, tax policy are all wrong. People are fleeing. They have to change their ways ASAP. History has proven that this ‘stuff’ doesn’t work. Thank you for bringing this matter to your attention!” he added.Trump’s comments came after Mamdani announced a new tax on owners of luxury second homes valued at $5 million or more.The measure is expected to raise up to $500 million for the city and would apply to individuals who do not live in New York full-time but are invested in its real estate market.Mamdani defended the move, saying the tax was “specifically designed for the richest of the rich” and said it was intended to address a “fundamentally unfair system that harms working-class New Yorkers,” according to a video shared on social media.
