Commonwealth Policy Center

New York City has nominated Zohran Mamdani as its democratic mayoral candidate, essentially securing him victory in the upcoming election. Mamdani wears his socialist beliefs on his sleeve, openly declaring that billionaires should not exist. He cites the stark gap between the rich and the poor, but Mamdani’s position lacks perspective. While it is true billionaires are much wealthier than you and I likely are, it is because they have provided valuable products and services to society—that’s how our market economy works. Mamdani’s own state would cease to operate without the very people he vilifies: millionaires and billionaires who pay roughly 40% of New York’s income taxes. Think about that. Declaring war on them is both foolish and destructive as is all class warfare rhetoric.