November 7, 2025
I make a very honest attempt to be measured and centrist in my political views. I have friends all along the political spectrum. But they are my friends and I’m not going to toss a friendship overboard over politics. We argue, we disagree, we buy each other drinks.
As a Libertarian, I believe in freedom…free to live our lives without unnecessary interference or molestation from government. Just don’t hurt other people when you do so, do not push yourself on them (a form of aggression which is not to be allowed), clean up any of your own messes.
I have said before I don’t care with whom you live your life, whom you love or how you identify yourself. You can’t expect everyone to agree with you on everything, but as long as they don’t try to push you around or you, them, it’s fine. In the end, we should be free to act in our own best interests.
You can own a chemical company and make your money, but you can’t pollute the river in the process.
Which means that Socialism, by its very definition is an anathema to a Libertarian. It violates the tenets of living a free life…you have violated their economic freedom. We all agree that taxes are necessary. We need government, it’s just the size of it that creates all the dispute.
The top 1% of taxpayers in NYC pay 42% of income taxes. It is estimated once one includes property and other taxes, 70% of the entire pot.
The victory in NYC, while appearing to be a clear win for the Democrats will, I believe eventually be seen as much more complicated. And here’s why.
First the win has taken Mr. Mamdani off the national political scene as a candidate for four years. Reps won’t have to deal with him running for Congress. Sure, he’ll gather press. And some no doubt want the foil to Trump and ZM is handy. They just do. But he will also be tied up and tied down dealing with what he wants to do in NYC.
Second, he will fail. Or his victories will be small ball, another form of failure.
He will go to the State for money, he will go to the Feds, and then he will whack his residents who have money and try to grab more in taxes to get them to their “fair share.”
Meanwhile, I ask a very simple question: If you are a business owner considering relocating to NYC…will you now do so?
And more, if you live in NYC and since you don’t need a passport to leave, might you now consider leaving? Thus, here is your ZM script, say, 2027:
“We are stymied by billionaires and their friends who have abandoned the City and have left, taking their money with them! It’s their fault we’re not succeeding.”
Money always moves to a place where it is better treated.
So, the exodus. Some of the polls have been truly concerning…a lot of people saying they will leave. I do not know how much of that is like the Hollywood thing…if Trump wins, I’m leaving the country. A lot say it, most don’t leave. But some do. This will not help the city’s finances.
Well, in their post-election euphoria, the Democratic Party has this basic problem: The face of the party now is a Socialist/Communist. This has created what might be an inevitable internal fight and battle over the soul of the Democratic Party.
We listened to his speech. As per normal with politicians, soaring rhetoric and promises. I read a great quote in the WSJ in which a former Socialist turned Capitalist said that the basic error he made was that he judged Capitalism on what it had actually done, but he judged Socialism on what it promised.
Thus, ZM’s soaring rhetoric about adding “thousands of teachers” beggars the thought process. Where will the money come from?
And so, the Democrats may be saddled now with a brand that is the wrong brand. That simply won’t sell in many places and so, they may be relegating themselves to a hard choice: Accept the inevitable voter backlash against Socialism (‘Not in my state’ people will say). Or enter what would no doubt be a vicious internal brawl about the future of the party.
One problem the Dems have is that their leadership has hung on too long. Pelosi is in her 80’s. Schumer is in his mid/late 70’s, for example. So, all the energy is coming from their younger participants. Moving Left appears to be the result.
Now to be fair, the election exposed the depth of the class problem. Socialists/Communists always need a disparity in wealth between classes.
The problem is that people like Mr. Mamdani propose the wrong solution to the problem. The solution is to not beggar those with money, because they will leave, the productive use of their capital leaves.
It is my reasonable expectation that Mr. Musk will not be relocating a Tesla facility to the Big Apple. You might recall Amazon bailing out on the idea of a new facility in NYC due to political pushback (AOC and others). Good one, that…the very things needed to solve the class problem…well-paying jobs with a future.
We need a viable and healthy Democratic Party. We need the loyal opposition. I don’t want to see the Democratic Party fail. But in NYC now, we will get to see how that goes. It will become the epicenter.
Given the way AI will kill jobs (read my piece on Waymo), this schism is not going to go away. We need new and innovative solutions to deal with it.
In his speech, ZM mentioned a taxicab driver who has to drive two hours to his job. I would say that ZM needs to know that by the end of his term, the job will probably be eliminated. An example of how inexperience chases the wrong problem.
History now rhymes:
“From each according to his ability, to each according to his needs”
This is one of Karl Marx’s most famous phrases, and it appears in his 1875 work “Critique of the Gotha Programme.” It’s a principle describing how Marx envisioned the distribution of goods and labor would work in a communist society…people would contribute what they’re able to contribute and receive what they need, rather than being compensated strictly based on their labor or other market factors.
Attached, a more detailed explanation of the Mamdani proposals and their effects from a Libertarian perspective:
https://capitalismmagazine.com/2025/11/zohran-mamdanis-democratic-socialist-plans-for-new-york-city
Thoughts, questions, or reflections? I’d love to hear them. You can reach me anytime at anthony@workingprofit.com
