1. United States
2. N.Y.
3. Letter

It is past time for New York to adopt a serious wealth tax and ask the ultra-wealthy to pay their fair share. Earlier this week, members of the State Legislature backed proposals to raise taxes on the wealthy, adding momentum to the push that New York City Mayor Zohran Mamdani has been making for months. The direction from both lawmakers and voters is becoming unmistakably clear: New Yorkers want a fairer tax system. Yet your administration has continued to hesitate. For too long, New York’s political leadership has been overly cautious when it comes to asking the wealthiest few to contribute more. The fear of upsetting wealthy donors and powerful interests has prevented action even as inequality and affordability crises deepen across the state. Meanwhile, ordinary New Yorkers are being crushed by rising costs. Housing is increasingly unaffordable. Healthcare costs continue to rise. Food prices strain household budgets. Wages have not kept pace with the cost of living. The result is a growing affordability crisis that is pushing working families further and further behind. The wealthy, by contrast, can easily absorb modest tax increases. Many of these proposals simply close loopholes and ask those with extraordinary wealth to contribute at a level more consistent with their resources. For years, the wealthiest individuals have benefited from a tax code riddled with advantages and workarounds that ordinary people simply do not have access to. In practice, the system often functions as a tax on being poor. Everything costs more when you have less: housing, credit, transportation, and basic necessities. This dynamic deepens inequality and erodes economic stability for millions of people. Democratic voters have been sounding the alarm about affordability for years. It is consistently one of the top issues they raise, and they are demanding meaningful action. Too often, however, Democratic leadership has fallen short. When leaders appear more responsive to wealthy donors than to everyday voters, it creates a dangerous perception that the party has lost touch with the people it claims to represent. New York should be leading the nation in confronting inequality—not lagging behind. Your last election was far closer than it should have been in a state as solidly blue as New York. That result should have been a wake-up call about the frustration many voters feel with political leadership that seems disconnected from the economic realities facing working people. Mayor Mamdani’s leadership on taxing extreme wealth and investing in affordability has energized voters because it speaks directly to the challenges people face every day. His political success reflects a broader shift among Democratic voters toward policies that directly confront inequality. If you want to be seen as a governor who stands with working New Yorkers rather than the wealthy few, now is the time to act. Support a meaningful wealth tax. Work with the legislature to close loopholes that allow extreme wealth to escape taxation. Invest the revenue in housing, healthcare, childcare, and the services that make life affordable for working families. New Yorkers are ready for bold leadership. The legislature is moving. Voters are demanding action. Governor Hochul, it’s time to listen. Tax the wealthy, now!