{"id":127257,"date":"2025-07-18T16:02:20","date_gmt":"2025-07-19T00:02:20","guid":{"rendered":"https:\/\/xira.com\/p\/2025\/07\/18\/biglaw-partners-alarmed-by-zohran-mamdanis-proposed-tax-increases\/"},"modified":"2025-07-18T16:02:20","modified_gmt":"2025-07-19T00:02:20","slug":"biglaw-partners-alarmed-by-zohran-mamdanis-proposed-tax-increases","status":"publish","type":"post","link":"https:\/\/xira.com\/p\/2025\/07\/18\/biglaw-partners-alarmed-by-zohran-mamdanis-proposed-tax-increases\/","title":{"rendered":"Biglaw Partners Alarmed By Zohran Mamdani\u2019s Proposed Tax Increases"},"content":{"rendered":"

Ed. note<\/u>: Welcome to our daily feature, Quote of the Day<\/a>.<\/em><\/p>\n

If you\u2019re a New York lawyer, between federal, state and local taxes, you\u2019re already paying over 50 percent of earnings in taxes. At some point, taxes get so much, people say it\u2019s not worth it. I could move to Florida.<\/strong><\/p>\n

It should lead a lot of Big Law to say \u2018this is an election I really care about, because it matters for my firm and business.\u2019 There are a lot of people who are waking up and saying, \u2018What\u2019s happening to our city?\u2019<\/strong><\/p>\n

\u2014 <\/i>Jon Henes<\/a>, a former Kirkland & Ellis partner who was Kamala Harris\u2019s finance chair during the 2020 Democratic primary, in comments given to the New York Law Journal<\/a>, on the \u201cwake up call\u201d that Zohran Mamdani\u2019s<\/a> surprise victory in the Democratic primary for mayor of New York City represents for lawyers in the Big Apple. Mamdani has proposed increasing the corporate tax rate to 11.5%, and introducing a 2% tax on amounts exceeding $1 million for those who earn over that amount.<\/em><\/strong><\/p>\n

\n
\"Staci
<\/figcaption><\/figure>\n

Staci Zaretsky<\/a>\u00a0is a senior editor at Above the Law, where she\u2019s worked since 2011. She\u2019d love to hear from you, so please feel free to email<\/a> her with any tips, questions, comments, or critiques. You can follow her on\u00a0Bluesky<\/a>,\u00a0X\/Twitter<\/a>, and\u00a0Threads<\/a>,\u00a0or connect with her on\u00a0LinkedIn<\/a>.<\/em><\/strong><\/p>\n

The post Biglaw Partners Alarmed By Zohran Mamdani\u2019s Proposed Tax Increases<\/a> appeared first on Above the Law<\/a>.<\/p>\n

\"\"<\/figure>\n

Ed. note<\/u>: Welcome to our daily feature, Quote of the Day<\/a>.<\/em><\/p>\n

If you\u2019re a New York lawyer, between federal, state and local taxes, you\u2019re already paying over 50 percent of earnings in taxes. At some point, taxes get so much, people say it\u2019s not worth it. I could move to Florida.<\/strong><\/p>\n

It should lead a lot of Big Law to say \u2018this is an election I really care about, because it matters for my firm and business.\u2019 There are a lot of people who are waking up and saying, \u2018What\u2019s happening to our city?\u2019<\/strong><\/p>\n

\u2014 <\/i>Jon Henes<\/a>, a former Kirkland & Ellis partner who was Kamala Harris\u2019s finance chair during the 2020 Democratic primary, in comments given to the New York Law Journal<\/a>, on the \u201cwake up call\u201d that Zohran Mamdani\u2019s<\/a> surprise victory in the Democratic primary for mayor of New York City represents for lawyers in the Big Apple. Mamdani has proposed increasing the corporate tax rate to 11.5%, and introducing a 2% tax on amounts exceeding $1 million for those who earn over that amount.<\/em><\/strong><\/p>\n

\n
\"Staci
<\/figcaption><\/figure>\n

Staci Zaretsky<\/a>\u00a0is a senior editor at Above the Law, where she\u2019s worked since 2011. She\u2019d love to hear from you, so please feel free to email<\/a> her with any tips, questions, comments, or critiques. You can follow her on\u00a0Bluesky<\/a>,\u00a0X\/Twitter<\/a>, and\u00a0Threads<\/a>,\u00a0or connect with her on\u00a0LinkedIn<\/a>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ed. note: Welcome to our daily feature, Quote of the Day. If you\u2019re a New York lawyer, between federal, state and local taxes, you\u2019re already paying over 50 percent of earnings in taxes. At some point, taxes get so much, people say it\u2019s not worth it. I could move to Florida. It should lead a […]<\/p>\n","protected":false},"author":3,"featured_media":127196,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-127257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-above_the_law"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/xira.com\/p\/wp-content\/uploads\/2025\/07\/Staci-Zaretsky-57gmZp.jpeg?fit=150%2C100&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/127257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/comments?post=127257"}],"version-history":[{"count":0,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/posts\/127257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media\/127196"}],"wp:attachment":[{"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/media?parent=127257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/categories?post=127257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xira.com\/p\/wp-json\/wp\/v2\/tags?post=127257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}