In his annual letter to shareholders, JPMorgan Chase CEO sent a warning to businesses trying to survive in NYC under radical socialist Mayor Zohran Mamdani. The city is already grappling with the ramifications of the COVID exodus that pushed businesses to more business-friendly states. Less than a month after taking office, Mamdani already began talking about raising taxes on the ‘wealthy’ to make up the city’s budget deficit, which he claims is on par with the Great Recession. In February, Mamdani warned the city may have to raise property taxes to close a multibillion-dollar budget deficit. The warning came as Mamdani unveiled a $127 billion city budget. According to Bloomberg, the mayor said the tax hike would be necessary if state lawmakers in Albany do…
Click here to read the full article at The Gateway Pundit.
