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Posted on 02/20/2026 4:58:58 AM PST by MtnClimber
Somehow, they didn't foresee this happening when the billionaires fled the fleecing.
Most of New York City's public employee unions endorsed Zohran Mamdani for mayor -- UFT teachers union, AFSCME, SEIU Local 1199 -- a lot of the big important ones.
So it must have come as a surprise them that Mamdani's first target to finance his huge $120 billion budget is likely to come not from billionaires, as he claimed would happen, but from a raid on their pension funds, which by the way, cannot flee.
Oh, what irony. Instead of going after the millionaires when the billionaires fled, he went, like a bank robber, to where the money still was -- New York City's $294 billion public pensions under management. He must have wondered why he didn't think this up earlier, given that very few billionaires have that many billions, none of which can flee.
New York City's Transit Supervisors Organization, which is another union, and based on its 'you get what you vote for' warning on its site, probably did not endorse Mamdani, explained the dynamic this way:
Mamdani unveiled his preliminary budget proposal for 2027, outlining a plan to close a projected $5.4 billion deficit. Under state law, New York City must pass a balanced budget. To bridge the gap, Mamdani proposed a 9.5% increase in property taxes and “raiding” the city’s Rainy Day Fund and the Retiree Health Benefits Trust Fund. “The city would also take $980 million from its Rainy Day Fund and take $229 million from the Retiree Health Benefits Trust,” he said. Mamdani’s proposal would increase the city’s overall spending from former Mayor Eric Adams’ $115 billion budget to $127 billion. Mamdani described the property tax hike and reserve raid as a last resort, preferring to instead raise taxes on high-income earners
(Excerpt) Read more at americanthinker.com ...
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LOL!!! GREAT!
Can’t speak for all but I know uniform services and teachers are and have been in zero danger of ever missing or lowering payments. I have to research the legality of the city snatching funds or lowering ot stopping contributions.
“How did Trump build with the mafia running the construction industry?”
see: “The Art of the Deal” ...
Idiots.
Most Vulnerable Persons (MVP’s)
When it comes to the Socialists, they promised the world, but then when the tax revenue people run away, they turned to the easiest next target. That is always the middle class and government pension holders. Every blue state should remember than.
Commies are all about confiscation. They’re thieves and looters, and it’s not just your guns that they’re after. They want everything you have.
What moron would ever vote for this? Will Madmani get impeached for lying?
Hope those of you in New York City are enjoying the Muslim call to prayer blasted over loud speakers 5X/day starting at 5:30 AM. Better get used to it:
"Throughout New York City, residents are complaining about the fact that starting at 5 a.m., the call for Islamic prayer is playing on speakers throughout the city for Islam’s ritual of praying five times a day."
If he eats the Golden Goose this year, what does he eat next year?
Still will ‘eat the rich’. The lefty trick is that rich is defined on a sliding scale. In the end, it is the envy that your neighbor has one more magic bean than you.
City Council. That’s the vote. At this point they will vote with the mayor. Honeymoon. After a while they might vote against him but by that time he will be practically a dictator.
HAHAHAHAHHAHAHAHAHHAAH!!!! They GOT WHAT THEY VOTED FOR! PERIOD!
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