Bloomberg Surveillance: A Conversation With Andrew Cuomo (Correct)
Andrew Cuomo, the front-runner in New York's Democratic mayoral primary, said raising taxes on the city's wealthiest residents would cause an exodus to states like Florida and Texas. 'You elect a socialist who tries to give everything away free, doubles the taxes on the wealthy, and the wealthy say, 'That's it I'm gone,'' Cuomo, the former governor of New York, said in an interview on Bloomberg Radio on Monday. His comments were a reference to Queens Assembly Member Zohran Mamdani, who is currently running in second place in some polls. Mahmdani, who has the backing of the New York City branch of the Democratic Socialists of America, has vowed to freeze rents and make city buses free by raising the state corporate tax rate and imposing a new 2% income tax on city residents who earn more than $1 million a year. The moves would require state approval.
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