Democratic Socialist Zohran Mamdani’s election as mayor of the “capital of capitalism” was a tremendous accomplishment and a blow to Zionists, Wall Street and Democratic Party higher-ups. Even the New York Times described his victory as a “surge of anti-establishment discontent.” Just a few of Mamdani’s frequent pre-election critical comments on capitalism include:
* Taxation isn’t theft. Capitalism is.
*. Socialism doesn’t mean stealing from the rich. It means taking back money from the rich who stole it from everyone else.
*Socialism isn’t some utopian fantasy but the only pragmatic response to the crisis we face.
Do I wish Mamdani had run as an independent socialist and not on the Democratic Party line? Yes. But I hope that he’s successful (I contributed to his campaign) in achieving his bold affordability agenda, a plan of action that requires raising taxes on the city’s wealthiest residents. The problem is that the state of New York must authorize these taxes and Democratic Governor Kathy Hochul, who Mamdani endorsed for re-election, has made it clear she adamantly opposes raising taxes even said, “I want to cut taxes.”
In response, Mayor Mamdani has threatened a 9.5 percent property tax as part of his proposed $127 billion preliminary budget. He also proposed taking $1.2 billion from NYC’s “Rainy Dad” fund and tapping into some retirement accounts. Mamdani stressed, “This is a tool of last resort and something we do not want to do. This can’t be resolved on the backs of working and middle class New Yorkers.” After receiving $1.5 billion from Hochul, Mamdani said the city still needs $5.4 billion to make up a deficit left by former mayor Eric Adams.
He does not require Albany’s approval to raise property taxes but City Council must go along. My impression is that many of those who voted for Mamdani would be hurt by the taxes but my sense is this threat is meant to leverage pressure on Hochel who would be blamed for the new taxes. I know little about the inside games being played out in New York but this appears to be a risky strategy. How did this sorry state of affairs come to pass?
It follows from Mamdani’s DOA pitch at the state capitol to “Tax the Rich,” his central campaign promise to make NYC affordable. Recall that he campaigned on raising taxes on corporations and a 2% increase on city residents making at least $1 million. Gov. Hochul’s stance is part of the counteroffensive unleashed by established power, including the Democratic Party. Is this what trying to obtain anti-capitalist concessions from a capitalist party looks like? Here we might recall Marx’s observation that the “The executive of the modern state is but a committee for managing the common affairs of the bourgeoisie.”1
On February 25, tens of thousands of New Yorkers will descend on the capitol for a “Tax the Rich” rally. Mamdani has announced that he probably won’t attend, presumably because he doesn’t want to antagonize Hochul. Of course, given his nonpareil communication skills, Mamdani could give a press conference or interview where he explains how the capitalist system is responsible for blocking his agenda.
Further, It may be too late but he had over 100,000 energetic volunteers and as Jeff Booth of the Independent Socialist Group asserts, “If enough political pressure is organized, none of the capitalist power or institutions would be able to stop reforms from being won.” This means that Mamdani and DSA leaders “would be supporting mass protests, strike action, occupations, school walkouts, and other tactics that will meet the class struggle moment in NYC and across the U.S.”2 This raises the penultimate question about just how much political capital Mamdani is willing to expend to make good on the promises he made to those who elected him.
ENDNOTES:
The post Tax the Rich Rally in Albany appeared first on Dissident Voice.
This content originally appeared on Dissident Voice and was authored by Gary Olson.