New York City mayoral candidate and Democratic Socialist Zohran Mamdani, who recently won the Democratic primary, sparked controversy with his bold statement on a NBC program, declaring, “I believe this society should not have billionaires.” This remark has stirred a heated debate, with the New York Post publishing a column describing him as “attacking everything that makes New York great.”
Mamdani seems to naively believe that billionaires hoard their money in vaults like Scrooge McDuck, overlooking the tangible contributions wealthy individuals make to the city. They fund museums, art galleries, parks, hospitals, and public education, all of which are essential for New York to maintain its status as a global cultural and medical hub.
According to the Forbes Billionaires List, New York City currently boasts the highest number of billionaires globally, with a total of 123 individuals. Their generosity knows no bounds:
– Media mogul Barry Diller and his wife funded the creation of the West Side landmark, Little Island, which is open to the public for free every day;
– Home Depot founder Ken Langone donated millions to New York University, propelling it to become a world-class medical institution, allowing medical students to study there for free;
– Dr. Ruth Gottesman’s multi-billion-dollar donation ensured free education for students at the Albert Einstein College of Medicine;
– Former Mayor Michael Bloomberg pledged $7.5 billion to support charter schools;
– Cable television mogul Charles Dolan established the Lustgarten Foundation, covering all administrative costs while dedicating donations solely to pancreatic cancer research.
These billionaires mostly come from humble backgrounds, such as Bloomberg’s father being an accountant and Langone’s father a plumber. Their success should epitomize the “New York dream”: having dreams and perseverance to carve out a path in this city.
However, Mamdani believes in a wealth redistribution scheme, stating, “If you create wealth, we will find a way to take it from you.” His tax and wealth redistribution ideas have been criticized as counterproductive to innovation and progress. Expelling billionaires from New York will not solve issues but rather lead to a loss of vital resources for the city.
The column author warns voters not to be deceived by Mamdani’s charisma, emphasizing that expelling billionaires will not make the city fairer but will deplete resources, leaving the community with nothing in the end.