Wall Street afraids of Mamdami?

Zohram Mamdani wants to implement far-reaching social measures financed by taxes on the wealthy.

Zohram Mamdani was the big winner on an election day that dealt Donald Trump a major blow in four states.

The socialist, young, immigrant profile stands in stark contrast to the conservative, reactionary profile of Trumpism in the Republican Party. One of the proposals is to increase taxes on the wealthy, who, fearing higher taxes, are considering moving to Florida.

Within this framework, Mamdani’s proposal would implement free childcare for all children in New York City from six weeks to five years of age and expand the existing pre-K and 3-K programs launched during Bill de Blasio’s administration. Mamdani wants to finance his proposal through taxes on high-income individuals and corporations.

In turn, the mayor-elect campaigned with free public transportation in an expansion of the pilot program that was implemented during the pandemic and eliminated fares on all city buses.

The socialist, young, and immigrant profile stands in stark contrast to the conservative and reactionary profile of Trumpism in the Republican Party. One of the proposals is to increase taxes on the wealthy, who, fearing higher taxes, are considering moving to Florida.

Mamdani, who refers to his plan as a «public option for agricultural products,» has said that government stores would address rising food prices by using city land for stores, purchasing food at wholesale prices, and not charging property taxes to landowners.