“Financial Crisis of Magnitude”: Singleton on Mamdani Policies

This is a city that is the financial center of the world.And if people like Ken Griffin start leaving and deciding not to buy second homes here and not to have their businesses here, New York City is going to be in a world of hurt.

I want to pick up with where Anna was leading to.She's right.1 .6 percent of the wealthiest people in this city pay nearly half of the taxes.If those folks leave, to Anna's point, you're going to have a financial crisis, a magnitude of which Mamdani does not understand.You think about everyday things that people utilize, public transit, safety, education, all of the taxes that go to provide for all of those things for poor people in this city.What in the hell are they going to do if 44 % of those dollars all of a sudden disappear overnight?