US President Donald Trump on Thursday criticized New York City Mayor Zohran Mamdani over his proposal to raise taxes on wealthy property owners, warning that it could harm the city’s economy.In a post on Truth Social, Trump said, “Sadly, Mayor Mamdani is destroying New York! It doesn’t stand a chance! The United States of America should not contribute to its failure.”“It will only get worse. Tax, tax, tax policies are so wrong. People are running away. They must change their ways, and fast. History has proven, this ‘stuff’ doesn’t work. Thank you for bringing attention to this matter!” He added.Trump’s comments come after Mamdani announced a new tax targeting owners of luxury second homes worth $5 million or more.The measure is expected to raise up to $500 million for the city and will apply to individuals who do not live full-time in New York but invest in its real estate market.Defending the move, Mamdani described the tax as “designed specifically for the richest people” and said it aimed to address a “fundamentally unfair system that hurts working New Yorkers,” according to a video shared on social media.