Taxing Your Way to Socialism
by
The dream of Islamic socialist Zoran Mamdani to sell the American electorate the supposed miracles of socialism has come to an end.
Tax revenues are collapsing in New York. With that, the dream of Islamic socialist Zoran Mamdani to sell the American electorate the supposed miracles of socialism has come to an end. Only fools refuse to learn: Those who bite the hand that feeds them will eventually starve.
Socialism always ends in the same misery. Quite apart from the fact that it represents a vulgar and contempt for human dignity ideology, its fiscal parasitism is impossible to overlook. Put simply: socialism functions only as long as it can feed on the economic substance of the middle class and the wealthy. Only by disregarding civilizational principles such as private property and individual autonomy can the advocates of this doctrine temporarily conceal growing economic inefficiencies through a continuous raid on productive wealth.
The inherent contradiction of socialism can be perfectly observed in New York’s current mayor. Like every socialist, Zoran Mamdani requires a productive, wealth-generating society as his source of financing. Yet through an ever-expanding network of state-directed structures, such as municipal supermarkets, free public transportation, or city-owned enterprises, he undermines the very substance and potential of the citizenry to work toward a prosperous future. Mamdani received the first bill for his aggressive socialist campaign in the world capital of capitalism after only six months.
According to calculations by the Citizens Budget Commission, New York is now losing around $11 billion in annual income tax revenue. The reason: In recent years, the share of millionaires residing in the state of New York compared with America’s entire millionaire population has already fallen from 12.7 percent to 8.7 percent.
It is a first, substantial warning shot: Through aggressive rhetoric, additional taxes, higher top tax rates, and a planned increase in wealth taxation, Mamdani is accelerating a trend that had already begun to erode New York’s tax base.
The principle is simple: As long as alternatives exist — such as moving to sunny Florida or business-friendly Texas — mobile wealth and high performers will choose places that do not portray them as enemies of society and that do not wage a fiscal campaign against their life achievements or those of their families.