Zohran Mamdani ran a brilliant campaign last year by promising to make New York City affordable through democratic socialism.
Now the bill is arriving.
Firefighters are good. Firefighters are socialism. Therefore, socialism is good. That is the intellectual caliber of the movement now ascending in American politics.
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New York’s new pied-à-terre tax took effect this month. Almost immediately, the luxury real estate market tanked. Wealthy buyers, it turns out, are not livestock. They can delay purchases, move money, change residency, or simply decline to participate in Mamdani’s experiment.
This elementary fact appears to have surprised the people running America’s largest city.
That’s the trouble with democratic socialists. They are forever astonished when human beings refuse to behave like figures in a budget projection.
Minnesota Attorney General Keith Ellison has a solution:
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