NYC Mayor de Blasio Readies "Millionaires Tax" To Fix Subway

Tyler Durden's picture

The New York City's transportation system is in trouble. Delays have skyrocketed on the century-old subway system, and several recent accidents have raised safety concerns. Joseph J. Lhota, chairman of The Metropolitan Transportation Authority, has called upon the mayor to provide more money to fix the system, recently outlining a roughly $800 million emergency rescue plan with a sweeping set of fixes that he vowed would turn around steadily deteriorating service.

“We’re here because the New York City subway system no doubt is in distress, and we’re here looking for solutions,” Mr. Lhota said during a news conference at the authority’s headquarters in Lower Manhattan.

Well, it appears Mr Lhota is about to have his wish come true courtesy of 'the rich' once again.

Mayor Bill de Blasio plans to push for a tax on wealthy New Yorkers to pay for improvements needed to address the crisis, according to a report from The NY Times.

Mr. de Blasio will announce a so-called millionaires tax on Monday for wealthy New York City residents to pay for subway and bus upgrades.


The proposal also includes funding to offer half-price MetroCards for low-income riders — part of a national movement that is gaining momentum in New York.


“Rather than sending the bill to working families and subway and bus riders already feeling the pressure of rising fares and bad service, we are asking the wealthiest in our city to chip in a little extra to help move our transit system into the 21st century,” Mr. de Blasio said in a statement.

Of course - de Blasio faces an uphill battle for his populist plan to soak the rich just a 'little' bit more...

The tax changes would require approval from state lawmakers in Albany - a difficult task, with Republicans in control of the Senate, though the urgency of the subway’s decline has raised the stakes and captured the attention of both parties.

The mayor’s proposal builds on an effort by State Senator Michael Gianaris, Democrat of Queens, to tax the wealthy to support the subway, and a campaign by transit advocates to establish reduced fares for poor residents after a successful program in Seattle.

“I would argue that the M.T.A. is in a full-blown crisis and that would justify our return to Albany to enact this measure in an emergency session,” Mr. Gianaris said.

The new tax would raise about $700 million to $800 million a year, with more than $500 million going toward capital costs for subways and buses and about $250 million for the half-price MetroCard program, city officials said. It would increase the city’s highest income tax rate by about 0.5 percent, to 4.4 percent from about 3.9 percent, for married couples with incomes above $1 million and individuals who make more than $500,000.

City officials estimate that the tax would be paid by about 32,000 New York City tax filers, or less than 1 percent of those who file their taxes in the city. New Yorkers already contribute to the authority through various taxes and fees, and the city has committed $2.5 billion for the agency’s current capital improvement plan.

Anyone else see 'the broken subway fallacy' at work here? Still doesn't matter, the 'rich' can afford it right? It's only 'fair',,,

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dogismycopilot's picture

Remember when Mayor Koch couldn't fix the ice rink in Central Park. He kept getting ripped off by contractors and no ice rink. It was like a $5 million ice rink.

A then 30 something Donald Trump donated a construction crew to get it going in like 4 weeks for $100K.

New Yorkers are cursed to have this asshole de Blasio as Mayor.

Free Man's picture

Airhead New Yorkers deserve it.

Now watch them blame someone else for who & what they voted for.

spiral galaxy's picture

Don't forget, the NY media had a major hand in getting DeBlasio elected .....think NY Daily News and Times. So another case-in-point why the media sucks

EuroZone's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do...

DownWithYogaPants's picture

De Blasio? Who?

Who? Oh you mean Warren Wilhelm Jr.

....what a phoney.  

Manthong's picture


He could fix all the problems with just a special $10.00  per copy tax on the NY Times papers.

Idiots who read that rag will be happy to pay it.


--and then a special dime per milliliter tax on bottled water,

-and then a another dime per gram tax on hot dogs from street vendors.

and then amother dime per microliter on diner soup nazi products.

and double the tax on cigarettes.

and triple the tax on gasoline

And a penny per step tax on pedestrians walking through Times Square

and then a nickel CO2 exhale tax per breath on Central Park joggers


.same philosophy  Philadelphia, Seattle and Chicago use with such great success on soft drinks.


JRobby's picture

NYC real estate and luxury retail to crash in 3,2,1.......

WorkingFool's picture

"Asking"! Really. Just like Michael Brown asking the store owner for a box of cigars

dynomutt's picture

I disagree.  Those luxury real estate properties are piggybanks for oligarchs with foreign addresses kept to trade like pogs.  As such, they don't meet nexus for this tax on "residents"

SoDamnMad's picture

Take a ride on the Moscow subway.  I am sure their millionaires are paying for such an elegant facility that runs like a Swiss watch. NYC sucks.

They should ding some of the Wall Street fake transactions. They could raise a fortune or end the manipulations. 

auricle's picture

As long as people vote for who the television tells them to, they will continue to get ripped off. 

Guderian's picture

If you keep hearing things, go see a shrink.

nmewn's picture

So what is it with corruption, lying, emails, patronage and dimz anyways?...

"The e-mails, released late Friday in response to a Freedom of Information request, contradict the mayor’s repeated assertions that campaign donors don’t get special access.

They also call into question his claim that he barely knew the two tainted donors.

“It’s not a particularly close relationship,’’ de Blasio told NBC’s “Meet the Press” in April 2016. “I met them first around the time of the general election. I hadn’t known them previously, really haven’t seen them in the last year or more. They supported the effort.”

The e-mails tell a different story.

They show Rechnitz contacted the mayor directly on matters large and small — inviting him to his son’s bris, seeking to exchange thoughts on a controversial production at the Metropolitan Opera, and asking to pop by City Hall to have a Holocaust survivor present Hizzoner with a book."

...oh never mind...its dimz! ;-)

Manthong's picture


“to his son’s briscuit”

or bris-cut?

Is that like a Jewish scone or something?


oops, I think I got that wrong.

Oy! it seems like it has something to do with ceremonial male genital mutilation.....


nmewn's picture

I think in Texas they call it a brisket ;-)

Manthong's picture


Oh no.... :-(…. dead meat one way or the other


nmewn's picture

It is certainly no secret that "the Frankfurt School" of joooishness is over represented in NYC society, this can be observed from Albany to Wall Street to the mayors office door.


Manthong's picture

..not many folks could tell the difference between Austrian and Frankfurter schools.


And I find it interesting that Rockefeller’s University of Chicago is home to known criminal bomber/pensioners Bernadine Dohrn and Obama ghost writer Bill Ayers.


at least they are in the right town for their philosophy,


agNau's picture

How bout sending a $1000/month to New York for subway repair.

j0nx's picture

Blame conservatives for their failures. It's a guaranteed run by the MSM and plays well to their base. Win win.

Offthebeach's picture

$500 mill in "capital" improvements to union thugs and crony contractors?  That'll get you 4 orange safety vests, a shop vac to vac up rider arms thst are cut off,   and 16 oz a spray bottle of "Urine Deodorizer"

gatorengineer's picture

You are absolutely spot on.  It will take a 500 million dollar study and at least 5 years to figure out where to start.  Real price tag likely 50 to 100 BILLION. and 10 to 20 years.  I run union labor (until I find a job that doesnt make me sick), and the 150 slugs I run in connecticut could easily be replaced with 20 Texans, and get the work done for one tenth the price.

vollderlerby's picture

Speaking of Connecticut.  Raising the tax for high earners will drive a good number of people into Westchester or Connecticut.  Long real estate there!  Well done Comrade DeBlasio

Doom Porn Star's picture

The word at the time was that Trump and Koch did not like each other at all and that Trump enterprises had clashed with Koch's city hall on matters of zoning and regulation, etc., etc..

Whether or not all the heavy lifting and hard work associated with the project had actually already been done, and Trump was just there to fund cosmetics for completion is a matter for discussion with those with inside information on the project logistics, funding and whatnot.

What is not in dispute is that the popular Koch administration was paying millions a year for 6 fucking years for the rehabilitation of Wollman Rink and year after year no one could even project when it might finally be finished or at what cost...

The project was some 12 million over budget when Trump got involved in June of 1986 promising to open the rink by Christmas if given complete contol of the project.  He somehow did rangle control.

..& the rehabilitated Wollman Rink opened to the public on November 1st.

iamrefreshed's picture

Unions are the bane of NYC. Fucking leeches.

Ivanovich's picture

What do you mean, cursed?  They voted for the asshole.

waspwench's picture

I never heard this before.   It is priceless.

The Donald should take a full page ad. in the NYT to remind New Yorkers about his largesse and to demonstrate how to get things done.

DeBlasio will drive wealthy people out of the city.  

Nostradumbass's picture

Will the taxed millionaires be given subway passes for their extorted monies?

swamp's picture

Discrimination taxation

Doom Porn Star's picture

The stations won't be named after the benefactors.

The subway cars will not advertise their forced largess, or be branded with the logos and names of their successful businesses, or be dedicated to their parents memories...

It's just a money grab.


BUT, the real not-so-secret here is not that the subways are underpriced or that taxes are too low to pay for the upkeep of the sprawling and complex system...

The real issue here is that this is a backdoor cash grab to pay for MTA administrators' bloated salaries, pensions, percs and medical benefits.

Much like the recent theft of the NJ Lottery: this is basically administrative bureaucrats looting the taxpayers under the guise of 'shieldinging the most vulnerable'.   

It is quite likely that funds are actively being diverted from the maintenance budget column and into administrative expenses column on the spreadsheet; and now the ursurpation of funds is simply becoming evident to the public via a series of systemic failures.    -It's just that simple..

Yen Cross's picture

 When does this fucking pricks term end?  Cuomo is anther wasteoid!

  This is "Walking Tall" spending monies ~~~~ " The Series"?

The_Dude's picture

Socialism is just the pretense to Communism.

The central planners's picture

Curious fact in Venezuela public transportation cost a fraction of a cent.

howling_mad's picture

Probably so does food, and yet they can't afford it now ;-)

The central planners's picture

Whos cares about food when you can travel the whole Caracas with one cent. ;-)

Free Man's picture

No, it's just another name for Communism.

Guderian's picture

actualy socialism is supposed to be one of the stages towards the 'perfect society' of communism.

nmewn's picture

Which leads to my old saying of...Every pregnant socialist gives birth to a bouncing baby communist ;-) 

lakecity55's picture

Socialism is Communism by the drink, not the whole keg at once.


pynky01's picture

Democracy is the road to socialism...KMarx...... The only difference between communism and socialism is the manner in which each enslaves men:  communism by force and socialism by the vote...ARand...

Free Man's picture

I guess NYC's notorious labor unions had nothing to do with the "delays" & "costs".


Secede NY, please secede.

Doom Porn Star's picture

The unions in NYC are not nearly as powerful as many think.

The money being grabbed here is not to pay unionized labor lavish wages for work.

The money being grabbed here is almost certainly to pay for administrators.

I have some inside knowledge of these issues, specifically concerning NYC.  

& I very much dislike the corrupt ambitious politician and fraudster most know as 'DeBlasio'.

meowmix105's picture

Douche-bag is up for reelection this fall ????

meowmix105's picture

The douche bag is up for reelection this fall... 

buffed's picture

Don't millionaires work?

gatorengineer's picture

If anyone thinks that there are only 32k people in NYC making a million I got a bridge to sell you.... Off by at least a decimal point.

Robert Trip's picture

"We's gonna gits da cheap rides Momma!"