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The Manhattan published an article January 20, 2026, highlighting a looming $12 billion deficit for New York City, an unavoidable boondoggle for the new Democratic Socialist mayor, Zohran Mamdani. (A Budget Deficit Much Larger Than Earlier Projected Looms On The Horizon For NYC - The Manhattan). Even an overburdened health system can explain in layman’s terms that using a Band-Aid to cover a gaping wound is unhygienic and not protocolled.

An article CNBC from January 28, 2026, pulls no punches (Mamdani says NYC must hike taxes on rich to fill deficit) and reports that the $12 billion dollar deficit could actually be as much as 12.6 billion. Invoking the “Great Recession” the darling of Democratic Socialism laments that this gap is more egregious than during that historical time of tribulation. Rejecting all notions of capitalism by which wealth and prosperity are created to be enjoyed by all, Mamdani risks becoming a character from Dr. Zhivago promoting the idea of taxing the wealthiest of New Yorkers to a higher degree. Whether under Capitalism or Communism he forgets that “wealth is mobile.”

Emulating New Jersey’s corporate tax rate of 11.5% he suggests doing the same for The Big Apple, the fruit of which might have been bitten by the blight of the latest East Coast snow storm. Individuals earning more than $1 million a year, he recommends, should pay a punitive 2% extra on their taxes.

Recognizing the “gross fiscal mismanagement” under previous administrations (of his own party), he asks those encumbered by this incompetence to “fix the problem.” To his credit, he promises greater fiscal transparency, even if that transparency reveals his socialist Weltanschauung. Will the headiness of his utopian plan of action pull the city out of its morass, or will the goals of what some have dubbed "The Red Green Alliance” become clearer to an electorate which may have to eat crow before his term ends?

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