US real estate tycoon Steve Roth, along with billionaire Ken Griffin, have strongly opposed the New York mayor’s call for additional taxes on the very wealthy, writes Politico.
Roth, the CEO of Vornado Realty Trust, said that instead of attacking the super-rich in a video that is rapidly gaining popularity on social networks, he believes that they should be praised and thanked. He said that calls for additional taxes are tantamount to contemptuous racist slurs.
Roth said: “I must say that I consider the phrase tax the rich — quote tax the rich — when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs, and even the phrase ‘from the river to the sea,’” Roth was referring to the controversial protest slogan used by Palestinian supporters.
The billionaire criticized a recent video released by New York City Mayor Zohran Mamdami, a Democrat, as irresponsible and dangerous. In it, Mamdami used Griffin’s 238 million dollars second home as an example of additional taxes. Griffin, the CEO of the hedge fund Citadel, was offended by the video, and a company spokesman said Citadel might consider halting construction of a new office tower, according to The Wall Street Journal.
Roth, who launched into a tirade about the New York mayor during a call with investors, said
everyone was shocked that the new mayor would make such a move at Griffin’s house and expose him to ridicule.
As for the new office building, Roth said it would likely happen, but added that a simple apology would not undo the damage.
The New York City Council did not respond to a request for comment. Mamdami’s campaign was largely built on a promise to raise taxes on corporations and the wealthiest New Yorkers, but Democratic Governor Kathy Hochul has so far resisted that, let alone additional taxes on second homes worth more than 5 million dollars.
Griffin also condemned Mamdami at a press conference on the 5th of May, expressing concern that the mayor’s video could incite political violence.
Roth on the 5th of May stressed that the city’s wealthiest residents contribute significantly to the city’s tax revenue, and said the so-called “one percent” are not the enemy and are at the top of the great American economic pyramid for a reason. The billionaire, who generously supported Mamdami’s opponent before the election last year, also said it might be time for Griffin to get active and lead the way in educating New York voters so they can elect more right-minded candidates. For now, however, Roth wants the mayor, whom he called “young, smart and energetic,” to become more friendly to billionaires.
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