How this year’s mayoral race displays the economic and political tensions in NYC and America.

Clyde Brittelle, Grade 10, Staff Writer

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This year’s mayoral race - unlike any other - has been surrounded by arguments on foreign policy. 

However, one of its most important aspects was the economy.

     This election has seen an unprecedented and consolidated effort to prevent a mayor who focuses on affordability and economic egalitarianism coming to power. Assemblyman Zohran Mamdani’s mayoral campaign marks a critical moment in the fight to challenge wealth inequality and the growing power of billionaire oligarchs.

      The history of this country has been mired in wealth inequality. Right now, the top 0.1% of Americans hold 13.8% of the nation’s wealth (statista.com) while the bottom 50% control 2-3%. This pattern is the same in New York City where issues like wealth inequality and affordability are pressing concerns.

      Both Gauvain Hardouin  (28’) and Mateu Rothman (27’), identified cost of living and wealth inequality as major issues. 

     Billionaires like Bill Ackman and Michael Bloomberg are donating millions to Mamdani’s principal opponent, Andrew Cuomo, the former Governor whose tenure was mired in corruption and sexual harassment scandals.

       Ackman himself said, “There are hundreds of million[s] of dollars of capital available to back a competitor to Mamdani” (theguardian.com). 

       But what is the billionaire class afraid of? Common Sense looks at what policies, in specific, are causing such an uproar. Mamdani’s proposed policies include no-cost child-care, raising the minimum wage, combating Trump in NYC, building affordable housing, freezing rents, creating the Department of Community Safety to alleviate the burdens placed on the NYPD, free buses, higher taxes on corporations and the top 1%, and city run grocery stores. Right now, Mamdani is proposing a 4% corporate tax hike (matching the famously socialist state of New Jersey’s tax rate)  and flat 2% tax on the top 1%. That would make those who earn $5 million pay much more than those who earn $50,000. 

      Mamdani has also proposed free and faster buses, which could generate more economic output through shorter commutes. 

      A pilot program also showed that eliminating fares led to assaults on bus drivers dropping by 38.9% due to less interactions with passengers. 

      Mamdani has proposed city-run grocery stores in his campaign; these stores offer a practical solution to one of New York’s most pressing problems: the rising cost of food. Nearly 9 in 10 New Yorkers say the cost of groceries is rising faster than their income (

       Having city-run stores enables a lower cost of groceries for New Yorkers because the focus would be on affordability instead of profit. The city run stores will not have to pay rent, further reducing prices.

      Something to remember is that this is an experimental program focused on five sites. It is not a do-or-die venture, it’s simply an effort to make the lives of New Yorkers easier and more affordable.

    What truly frightens the billionaire class about Mamdani’s policies is that they aren’t designed for their benefit. But that is good. It is inherently undemocratic that those who have more wealth get more of a voice. If wanting the best for working class New Yorkers is considered radical, maybe it’s the system — not Mamdani — that needs to change.