Ed. word: Welcome to our each day characteristic, Quote of the Day.
Should you’re a New York lawyer, between federal, state and native taxes, you’re already paying over 50 % of earnings in taxes. In some unspecified time in the future, taxes get a lot, individuals say it’s not value it. I might transfer to Florida.
It ought to lead plenty of Massive Legislation to say ‘that is an election I actually care about, as a result of it issues for my agency and enterprise.’ There are lots of people who’re waking up and saying, ‘What’s occurring to our metropolis?’
— Jon Henes, a former Kirkland & Ellis companion who was Kamala Harris’s finance chair in the course of the 2020 Democratic main, in feedback given to the New York Law Journal, on the “get up name” that Zohran Mamdani’s shock victory within the Democratic main for mayor of New York Metropolis represents for legal professionals within the Massive Apple. Mamdani has proposed growing the company tax price to 11.5%, and introducing a 2% tax on quantities exceeding $1 million for individuals who earn over that quantity.
Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to email her with any ideas, questions, feedback, or critiques. You may comply with her on Bluesky, X/Twitter, and Threads, or join along with her on LinkedIn.
