Hey Mamdani: It turns out you DO need millionaires in NYC

For all of Mayor Zohran Mamdani’s “we don’t need millionaires” talk — it turns out, he does. 

Wall Street bonuses hit a record $49.2 billion in 2025, up 9%, reports state Comptroller Thomas DiNapoli.

That means an extra $199 million in state income tax revenue and $91 million more for city coffers.

Great news … except Mamdani’s ginormous $127 billion spending plan projected those bonuses to be up 15.1%, not a mere 9%. 

The mayor’s not alone: Gov. Kathy Hochul’s executive budget wildly assumed they’d grow 25.9%.

But Hochul at least isn’t regularly trash-talking “the rich,” nor rushing to bleed them further while shrugging at the thought that they might skate off to friendly climes.

As DiNapoli told The Post, “When Wall Street does well, it’s good for our state and city budgets, which are reliant on the industry’s significant tax contributions.”

If he had even looked at his own budget (beyond the parts that display his spending dreams), Mamdani would know that.

Then again, his main use of the budget so far is as leverage to get tax hikes — on “the rich,” if possible, or anyone else if that fails — to fund that “vision.”

He’s sure not looking to cut costs; he’s too busy setting up a taxpayer-funded re-election team.

The nonstop war on high-earners is central to his image; he doesn’t care that they already cover a huge chunk of the city’s bills, and doesn’t want to hear about how his plans could kill the golden goose.

Wall Street just had a banner year, but still coughed up less in taxes than Hizzoner directed; he just sees that as reason to hit the high earners harder.

Thing is, “the beatings will continue until morale improves” is an epically foolish approach when the folks you’re whipping can simply move out of reach.