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Zohran Mamdani Declares: “I Don’t Think We Should Have Billionaires”

Mamdani argued that extreme wealth is incompatible with a fair society, especially amid significant inequality in New York City and the nation.

Rashi Randev by Rashi Randev
June 30, 2025
in Americas
Zohran Mamdani Declares: “I Don’t Think We Should Have Billionaires”

Zohran Mamdani Declares: “I Don’t Think We Should Have Billionaires”

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The 2025 New York City mayoral race has taken an historic turn with Zohran Mamdani’s decisive victory in the Democratic primary. At just 33 years old, Mamdani—a state assemblyman, democratic socialist, and the son of Indian and Ugandan immigrants has galvanized a coalition of younger voters and working-class New Yorkers with a platform that promises bold change and direct confrontation with entrenched wealth and power.

Zohran Mamdani stated, “I don’t think that we should have billionaires,” during a national television interview on NBC’s Meet the Press on Sunday, June 29, 2025. Responding to a direct question about the legitimacy of billionaires, Mamdani argued that extreme wealth is incompatible with a fair society, especially amid significant inequality in New York City and the nation.

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Mamdani’s Views: Taxing the Ultra-Rich and Reshaping the City

Mamdani’s economic vision is rooted in the belief that extreme wealth is incompatible with a just society. He has repeatedly called for higher taxes on the ultra-rich and large corporations, proposing a 2% surcharge on those earning over $1 million annually and raising the corporate tax rate from 7.25% to 11.5%. According to his campaign, these measures could generate up to $9.4 billion each year to fund ambitious public programs.

His platform includes:

Universal Childcare: Making early education and care accessible to all families.

200,000 New Affordable Housing Units: Establishing a Social Housing Development Agency to create publicly owned, permanently affordable homes.

Rent Freeze: Halting rent increases on all rent-stabilized apartments and reversing hikes on city-owned properties.

Fare-Free Buses: Expanding on successful pilot programs, Mamdani wants to make all city buses free to increase ridership and reduce barriers for working-class New Yorkers.

City-Owned Grocery Stores: Opening a municipal grocery store in each borough to lower food prices and combat food deserts.

$30 Minimum Wage by 2030: Raising the city’s wage floor to address the high cost of living.

Comprehensive Public Safety Reform: Shifting resources from the NYPD to a new Department of Community Safety, staffed by mental health professionals and crisis responders.

A particularly controversial aspect of his economic plan is property tax reform. Mamdani proposes shifting the tax burden away from outer-borough, working-class homeowners—who are often people of color—and onto wealthier, predominantly white neighborhoods, especially in Manhattan.

He argues this would correct longstanding inequities in the city’s property tax system and make homeownership more attainable for the middle and working class.

Immigration, Social Justice, and Foreign Policy

Mamdani’s platform is equally bold on immigration and social justice. He has promised to expel U.S. Immigration and Customs Enforcement (ICE) from city properties, strengthen New York’s sanctuary city protections, cut off cooperation with federal immigration agents, and boost legal aid for immigrants. This stance has drawn fierce opposition from Republicans, with some calling for his deportation and others framing his policies as radical and dangerous.

On foreign policy, Mamdani has pledged to abide by International Criminal Court warrants for Israeli leaders, vowing to arrest Israeli Prime Minister Benjamin Netanyahu if he visits New York City—an unprecedented position for a major U.S. mayoral candidate.

The Republican Response: Opposition and Opportunity

Mamdani’s rise has provoked a strong reaction from Republicans at both the local and national levels. His proposals to tax the wealthy, overhaul property taxes, and expel ICE have been labeled as “radical socialism” by critics, with some even calling his platform “communist”—a claim debunked by policy experts.

President Trump’s former Border Czar, Tom Homan, dismissed Mamdani’s vow to expel ICE, warning that federal law supersedes local policies. Trump himself has publicly criticized Mamdani, warning that he “must behave” if elected mayor or face consequences.

For Republicans, Mamdani’s platform presents both a challenge and an opportunity:

His policies threaten to upend the city’s tax structure and business climate, potentially driving out investment and high-income residents—traditional Republican talking points.

Republicans see a chance to mobilize moderate and affluent voters who fear higher taxes, as well as those concerned about public safety and national security. Mamdani’s unapologetic leftism provides a clear contrast for the GOP to rally its base and attempt to peel away centrist Democrats.

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A New Era for New York City?

Mamdani’s victory in the Democratic primary marks a dramatic shift in the city’s political landscape. His campaign, powered by grassroots organizing and high-profile endorsements from figures like Bernie Sanders and Alexandria Ocasio-Cortez, has forced a reckoning within the Democratic Party and energized a new generation of voters. If elected in November, Mamdani would become the first mayor of Indian origin and Muslim faith in New York City’s history—a symbolic milestone in itself.

His ambitious agenda faces significant hurdles, including legal challenges, opposition from business and real estate interests, and the practical complexities of governing a city as large and diverse as New York. Yet, Mamdani’s ascent signals a growing appetite for transformative change—and a new front in the ongoing battle over the future of American cities.

For Republicans, the months ahead will be a test of their ability to counter a progressive wave in one of the world’s most influential cities. For New Yorkers, the 2025 mayoral election is shaping up to be a defining moment in the city’s—and perhaps the nation’s—political evolution.

Tags: American EconomyMAGARepublicansZohran Mamdani
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Rashi Randev

Rashi Randev

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