US President Donald Trump on Thursday criticized New York City Mayor Zahran Mamdani for his proposal to increase taxes on wealthy property owners, warning that this could harm the city’s economy.In a post on the Truth Social website, Trump said: “It is unfortunate that Mayor Mamdani is destroying New York! She has no chance! And the United States of America should not contribute to its failure.”“It’s going to get worse. Tax and financial policies are completely wrong. People are fleeing. They need to change their ways, and fast. History has shown that these ‘things’ don’t work. Thank you for your concern on this issue!” He added.Trump’s statements came after Mamdani announced a new tax targeting owners of luxury second homes worth $5 million or more.The measure is expected to raise up to $500 million for the city, and will apply to individuals who do not reside full-time in New York but invest in its real estate market.Defending the move, Mamdani called the tax “tailored for the richest of the rich,” and said it was intended to address “a fundamentally unfair system that harms working New Yorkers,” according to a video shared on social media.
