Many Black, middle-class NYC property owners say they’d be among the biggest victims of the Democratic Socialists of America’s proposed tax hikes.
Some told The Post the DSA’s Marxist measures — which include higher taxes for individuals making over $300,000, and taxing inheritances over $250,000 — would hurt New Yorkers like themselves who spent decades building up retirement accounts, paying off homes, and planning their estates to benefit their loved ones
“The reason you invest is to acquire wealth with the hopes of putting it towards your legacy, for your family — and this will greatly affect my family,” said mother-of-three Lorraine Smith-Singleton, 77, of Jamaica, Queens.
The senior said she didn’t vote for socialist Mayor Mamdani but supports his “millionaire tax” plan.
However, she believes the DSA’s other measures unfairly target people in lower tax brackets.
“I favor taxing the rich — the super-rich, but I’m not in favor of taxing middle-class working people,” said the retired registered nurse. “I own two properties, and I intend to give whatever’s left to my children, not the government.”
“It doesn’t matter if you’re black, white, yellow, green, or purple! it doesn’t matter!” she added. ”If you fall into a certain category, your family is gonna be affected, and it is so unfair.
“We already pay more taxes now than what we should be. Everything is sky high.”
The DSA tax plan “feels un-Democratic,” and will only widen the gap between the wealthy and middle-class in NYC, said James Chavis, a 58-year-old consultant who owns property in Laurelton, Queens.
“As an African-American homeowner, I think it’s extremely unfair to most middle- and upper-middle-class New Yorkers to raise taxes, especially when incomes are not increasing in our current economic environment,” he said.
”The super-rich manage to skirt the tax by whatever means, and the middle-class continually carries the burden. It’s the reason that so many have chosen to leave the State of New York and New York City.”
