Most of us know the famous Margaret Thatcher quote about socialism, but leftist politicians and those who support them either have never heard those words or refuse to believe them.
New York City Mayor Zohran Mamdani has been busy recently naming and shaming certain billionaires who have property in Manhattan (not anyone named "Soros" though).
Happy Tax Day, New York. We’re taxing the rich. pic.twitter.com/Wky2LFXC9W
— Mayor Zohran Kwame Mamdani (@NYCMayor) April 15, 2026
That effort is of course destined to backfire:
Exclusive: Billionaire Ken Griffin is appalled that Mayor Zohran Mamdani used his 24,000-square-foot Manhattan penthouse last week as the backdrop for a tax-the-rich video, and that has triggered a subtle threat of re-evaluating investment in the city. https://t.co/omvtf8cDBi
— The Wall Street Journal (@WSJ) April 23, 2026
But do you know what? Mamdani supporters like author Fran Lebowitz don't care if all the billionaires leave the city. They're not needed, or so she thinks:
Fran Lebowitz on the billionaires: “Every time someone suggests [a wealth tax] they say I’m moving. Go! They add nothing to New York. In the 19th century, those robber barons, they employed people. All this money magic employs no one. Goodbye, go. We don’t need you” pic.twitter.com/QDs6EcT8ib
— Marco Foster (@MarcoFoster_) May 20, 2026
If billionaires add nothing to New York, these socialists have a weird way of showing it, because they're trying to find ways to get their hands on more of their money.
How can she be so confident and so wrong
— Its Cole (@itscoleonx) May 20, 2026
There's been a lot of that going around on the Left.
This is laughably unhinged. JPMorgan, Dell, Bloomberg, Citadel, and more are massive employers—run by billionaires—that drive enormous investment & tax revenue to NYC. They're a major reason why the city has the highest GDP in the world. Wildly delusional stuff here. https://t.co/lt8HYKmya6
— Billy Binion (@billybinion) May 20, 2026
"They add nothing," according to Lebowitz:
Love Fran, but… the Top 1% of NYC earners pay 48% of the taxes
— @jason (@Jason) May 20, 2026
Too 10% pay 70%+
if you chase them out you will need to dramatically cut services for all New Yorkers — the math doesn’t math https://t.co/4o7N6snmgn
Maybe Team Mamdani is counting on endless NYC bailouts from Albany. Rude awakenings await.
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Editor’s Note: New York City is now facing the consequences of Mayor Zohran Mamdani’s socialist takeover and very possible future city bankruptcy.
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