New York real estate titan likens the phrase ‘tax the rich’ to racial slurs
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Steve Roth, a billionaire and CEO of Vornado Realty Trust, has equated the phrase 'tax the rich' with racial slurs, arguing that it is equally hateful. His comments came in response to New York Mayor Zohran Mamdani's announcement of a new tax on second homes valued over $5 million. Roth emphasized that the top 1% should be praised rather than vilified, aligning himself with fellow billionaire Ken Griffin, who was specifically mentioned in the mayor's announcement.
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The 'pied-à-terre' tax proposed by Mayor Mamdani is part of a broader initiative to address housing affordability in New York City, targeting luxury properties that contribute to housing inequality. Roth's comments come amid increasing scrutiny of wealth disparity and the taxation of the affluent, especially in urban centers where the cost of living continues to rise.
This article reflects the opinions of the individuals quoted and does not necessarily represent the views of The Guardian.
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