As Zohran Mamdani rides frontrunner status in the final seven weeks before the mayoral election, he’s moving rapidly to the left. Despite efforts by the business community to build bridges with Mamdani, he is ratcheting up his anti-capitalist rhetoric, equating profit with greed, rolling out plans for massive tax hikes, and refusing to share any information on who might serve in his administration.
In an interview with Errol Louis on Sept. 8 at Columbia University, Mamdani laid out his radical two-pronged tax hike plan: “One, by raising the state’s top corporate tax rate … and two, by raising New York City’s personal income tax rate on the top 1% by 2%.
Worse, Sunday night, New York Gov. Kathy Hochul unequivocally endorsed Mamdani, removing any expectation that she will safeguard the state from ruinous tax increases.
NYC’s mayor has no power to raise taxes, except property taxes, without the consent of the state legislature and governor. In previous public appearances, Hochul expressly opposed Mamdani’s tax-hike plans. But not in her Sunday endorsement. She put their “disagreements” in the past tense.
Now Hochul is redefining her priorities, genuflecting to the left as she reads the polls: “Affordability has long been my top priority as governor, and it is the No. 1 concern I share with Mr. Mamdani.”
What a fool. Tax hikes will accelerate the exodus of business and population, dooming New York to be the Evacuation State instead of the Empire State.
Mamdani has Hochul in a headlock. He’s collected her endorsement but declines to return the favor. Ouch. If he wins the mayoralty, she will have kowtow to whatever he demands as she navigates her own reelection bid next year against challenges from her left flank. New Yorkers will pay the price.
Mamdani’s latest economic demagoguery, price shaming FIFA, is another cautionary sign that he is ready to go to war against NYC capitalism. On Sept. 10, Mamdani launched a petition campaign to bully FIFA World Cup to cap its prices and set aside 15% of tickets for NYC games at a discount for local residents.
He posted on X, “The biggest sporting event in the world is happening in our backyard. But most New Yorkers will be priced out of watching it live.” The petition called on FIFA “to put game over greed.” By the way, signers were also asked to pledge that they will vote for Mamdani.
But what’s next? Will Mamdani go after Broadway theaters, shaming them into setting aside tickets for locals at affordable prices? Few families I know can afford to attend a Broadway show.
Will luxury restaurants be targeted, told to set aside an affordability section for locals?
Will there be Mamdani price vigilantes outside the local pizzeria, demanding lower prices per slice?
NYC’s mayor should be boosting commerce and tourism, celebrating the city’s sporting events, Broadway and fine dining, not going on the attack against capitalism.
The writing is on the wall. If Mamdani wins, this time next year, according to a source close to the municipal unions, the city will be in fiscal trouble. Reactivating the Financial Control Board that rescued Gotham from a financial debacle in 1975 is no longer an option. It would require the consent of the state legislature, now controlled by Mamdani backers Assembly Speaker Carl Heastie and state Senate Majority Leader Andrea Steward-Cousins.
Still, this mayoral race is not over. Many local Democrats are understandably wary. “The rest of the party leadership are putting wealthy donors first who feel threatened by Mamdani’s agenda to hold them accountable and make them pay their fair share,” Gustavo Gordillo, co-chair of the NYC Democratic Socialists of America, complains. Fair share? The top 1% of NYC earners already pay an eye-watering 48% of the city’s income tax revenue, according to the city comptroller.
Rep. Laura Gillen (D-N.Y.) set the record straight, saying she completely disagrees with Hochul’s endorsement, citing the need to bring down taxes, not raise them.
Most interesting, Gordillo estimates that 500,000 voters back Mamdani — not a significant gain since the 469,000 who chose him first round in the Democratic primary. There’s a ceiling on support for this anti-capitalist extremist. If turnout hits 45% — a not-unreasonable goal for a race getting national attention — Mamdani can be beaten. It’s up to New Yorkers to turn out and vote.
Betsy McCaughey is a former Lt. Governor of New York State and founder of SAVENYC @SAVENYC.org. Follow her on Twitter @Betsy_McCaughey. To find out more about Betsy McCaughey and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website.
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Either way, if Socialist candidates continue to be elected to offices around New York state, the exodus of businesses and population will rank with that of California. Unfortunately, the people leaving are bringing their ideologies to their new states where the corruption will continue to spread if not checked.
This is happening because the left has for decades now sullied capitalism and convinced the sheeple that rich people are bad and don’t pay taxes, when the exact opposite is true. Bernie Sanders is the biggest hypocrite of all: A millionaire espousing socialism and government freebies for all, just not with HIS money.
He should NOt BE ON THE BALLOT.
Just another “do as I say, not as I do” dem politician. His parents are wealthy capitalists, and so is he…It amazes me how many people can’t see past the BS…
This mamdani idiot is presenting nothing original. He’s spouting off the garbage that the USSR started casting off back in 1999. He’s a proven failure based on the fall of the “iron curtain.” Anyone who votes for this shyster is a moron for believing his lies.
I feel sorry for the Jewish population who have their rabbis endorsing the islamist/marxist mamdani. The stock exchanges should move to Texas or Florida.
I wonder if President Trump’s son is looking for a buyer of Trump Tower?
NYC has long been the financial, banking, and telecommunications capital of this nation. Those who run those industries have spent the last few decades putting up with a lot of crap from the local NYC government, which has repeatedly raised taxes, increased regulations, and imposed new and more restrictions on those industries. But gone is the day when those industries needed a centralized, physical location from which to conduct business. Everything they now do is accomplished using computers and telephones and can be done quite literally from anywhere. For example, for those who are unaware, more than 40 years ago Citicorp got tired of paying rental rates in midtown Manhattan for their back office operations, so they packed up and moved the function to North Dakota – and it all worked out just fine. If the new mayor makes life in NYC too difficult for the aforementioned industries, they can – and almost certainly will – pack up and move out to a more hospitable location. And NYC can then say goodbye to all those tax revenues – and jobs.
If Mamdani does win, it will be due primarily to the votes of the leeches and dregs (who represent an ever-increasing proportion of the residents of all of our major cities) to whom he has promised a seemingly endless list of freebies and giveaways in addition to those they already receive.
Unfortunately, most of those leeches and dregs are too stupid to understand that, even if he sincerely intends to try to keep those promises (which I doubt), he will not be able to.
First, where will all the money to pay for those things come from when those paying the taxes are fleeing the City as fast as they can?
And second, much of what he has promised he has no authority to accomplish since many of those things violate our Constitution.
All I can say is that the good people still living in NYC, of which there are many, are in so much trouble…
I think that CASTRO MAMDANI just ordered a solid gold toilet for his “throne room”.
New York WAS one of the greatest cities in the world and has sunk to the lowest level of absurdityI This due to the huge amount of illegals from communist run countries now living there under BIDEN’s past wonderland of rules of…..give them everything and get their vote…..or was that Obama’s great scheme?
The Governor is getting her face lifted, the Mayor is in hiding and who is paying for all of those Mamdani Supporters following him around like he is speaking the truth? What a bunch of idiots. They cannot tell a conman from a two foot distance. Better wake up New York voters. And, by the way, where are the Church leaders and why are they silent now?????? Something really SMELLS there now.
Mamdani rejects everything American ,but enjoys the life hare and would not return to his native country voluntarily, is voter an idiot? Mamdani is smart, tells the naive voter what he wants to hear, yes, there is a Santo Claus.
This mayor election will be conducted using ranked choice method. This will be a test, and may be revealing. If voters do rank the candidates, and many select someone else as 2nd, we may see a candidate who was behind win. Hopefully, ranked choice elections will be obviously ridiculous.
why are we even looking at this communist thug – he should not be in the country let alone running for mayor for one of the largest most pivotal cities in the country.
So, the top 1% will now be taxed from 48% all the way to 50%!
When will people begin to realize that socialists eventually want 100% of your income with the fairytale promise of; you won’t need your money anymore because we will be taking care of you cradle to grave! Did I say fairytale?!
I’m preparing for another wave of New Yorkers to move into my state, here out west, in the event this communist actually does win!
We’re F’ed if he wins
imagine the reaction to that happening to the communist running in nyc.
Greed! People want freebies and it will be their downfall. Consider a pack of wild pigs. put out some feed and they will continue to return to the same place each day. Put up a fence on one side each day and they will learn how to go around the fence to the free food, including through an open gate. Close the gate and what do you have? A bunch of socialist pigs that have given up freedom, and ultimately their lives, for freebies.
New Yorker’s, take heed to this parable.
“We the People” have invariably dropped the ball. There are many types of Capitalism! BOFA has recently raised the company minimum wage to $25.00 an hour. Much like Henry Ford whom raised all the Ford Motor Company wages by %100 in 1914. Doing so doubled his profits in one year! On the other hand, Carnage raised the number of hours a week the Steel workers worked to the point they were being killed at the rate of 2 per week because of chronic fatigue. When they figured it out, they went on strike. Carnage had them shot and killed. Seems we are in a Carnage type of Capitalism. We can put value back in the wages and “Make America Great Again” are you listening Mr. Trump?
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