Mamdani’s bait-and-switch underscores perils of socialism
This spring, New York City Mayor Zohran Mamdani released a viral video in which he announced his latest “tax the rich” scheme, specifically targeting billionaire Ken Griffin as a poster child for the policy.
TL;DR
- Mayor Zohran Mamdani proposed an annual fee on luxury properties over $5 million owned by non-residents.
- Billionaire Ken Griffin was specifically named and criticized by the mayor.
- Griffin called the policy a "personal attack" and a "profound lack of judgment."
- Griffin is considering withdrawing a $6 billion development project from the city.
- Griffin previously exited Illinois due to public policy issues.