Populist 'tax the rich' policies fail to hit the ultra-wealthy, instead squeezing the middle class and destroying housing markets.

Across the country, calls to “tax the rich” have become potent political slogans that helped propel progressives like Mayor Zohran Mamdani to positions of power.

NEW YORK (AP) — Across the U.S., calls to “tax the rich” have become potent political slogans. But even in Mayor Zohran Mamdani’s New York, getting the wealthy to pay