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Kevin O’Leary calls Mamdani’s NYC tax plan ‘sheer blind stupidity’ as wealth flees the city

New York Post·Fox Business·about 1 month ago
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A renewed push to raise taxes on wealthy individuals and corporations in New York City is drawing criticism from business leaders as policymakers weigh how to balance budgets without driving away investment. O’Leary Ventures chairman Kevin O’Leary joined FOX Business’ Stuart Varney on “Varney & Co.” to weigh in on proposals targeting high earners , arguing the approach risks undermining the economic activity cities rely on. “Well, let’s just look at the policy itself and stay out of the emotional aspect of it … These people do not live in the city, they do not burden the city with anything because they’re obviously out-of-towners,” O’Leary said. His comments come as major firms and high-net-worth individuals increasingly signal a willingness to relocate capital  in response to tax policy, a trend that has reshaped migration patterns across several high-tax states in recent years.…

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