Socialism on the Ballot: Zohran Mamdani’s Victory Signals Economic Authoritarianism Coming to NYC

EDITOR'S NOTES

The New York primary has just handed the Democratic Socialists a potential seat of unchecked power. Zohran Mamdani, a proud foot soldier of the DSA and the Working Families Party, isn’t just proposing higher taxes and bigger government—he’s openly advocating for a complete state takeover of the local economy. This isn’t governance; it’s economic warfare on the middle class. The stakes are now far greater than a single election. As Bill Brocius says in The End of Banking As You Know It, when you centralize power, you destabilize freedom—and your savings are next in the crosshairs.

Eric Blair Jun 26, 25

NYC Voters Just Backed a Socialist Mayor Candidate—and His Agenda Should Terrify Anyone with a Paycheck or Savings Account

The most densely populated city in America just lurched left—and not by inches, but by miles. Queens Assemblyman Zohran Mamdani, a self-declared Democratic Socialist, has clinched the Democratic primary for New York City mayor, positioning himself to take the reins of a $107 billion budget and 8.5 million people. But it’s his economic vision that should send shivers down the spine of anyone who’s worked, saved, or invested in this city.

This isn’t a political campaign—it’s an economic revolution. Mamdani’s blueprint reads like a Marxist fever dream: a $30 minimum wage by 2030, sweeping corporate tax hikes, a flat wealth surcharge on households earning over $1 million, rent freezes, city-funded child-rearing, and—yes—government-run grocery stores.

Government-Run Grocers and Anti-Business Tax Schemes

Mamdani wants to build city-owned grocery chains that pay no rent, no property taxes, and "sell at wholesale prices"—funded directly by taxpayer dollars. He claims the pilot alone will cost $60 million, and that’s just the beginning. Imagine Whole Foods run by the DMV, except you’re footing the bill whether you shop there or not.

He proposes jacking up NYC’s corporate tax rate to match New Jersey’s 11.5%, which his campaign magically claims will “raise $5 billion.” Add to that a flat 2% tax on households earning over $1 million, and we’re looking at a policy cocktail guaranteed to drive wealth, jobs, and investment out of the city faster than a San Francisco tech exodus.

Price Controls, Rent Freezes, and the Erosion of Property Rights

Under Mamdani’s rent plan, 200,000 “union-built” units of “permanently affordable” housing would be constructed—by whom, with what money, and on whose land remains unclear. But this top-down rent control regime would come with an immediate rent freeze, effectively crushing landlords already squeezed by soaring property taxes and maintenance costs.

If you think this sounds like Argentina in the early 2000s, you'd be right. It begins with price controls and ends with scarcity, collapse, and IMF bailouts.

Delivery Apps in the Crosshairs—and the Gig Economy Along With It

The gig economy, a vital lifeline for tens of thousands of immigrant workers, is also under siege. Mamdani wants to reclassify app-based delivery workers as full-time employees—never mind what those workers actually want. This kind of forced unionization and regulatory overreach won’t empower these workers; it’ll gut their flexibility and cost them jobs. But then again, socialist plans rarely care about real-world outcomes.

He also wants to slap the delivery app industry with new licensure requirements and spend more taxpayer funds on “deliverista hubs,” e-bike infrastructure, and surveillance-heavy enforcement—classic over-regulation disguised as compassion.

Free Childcare, Free Transit, and the Fantasy Budget

Let’s recap the rest: Mamdani wants to provide free childcare to every New York child aged six weeks to five years, complete with "baby baskets" containing diapers and post-partum pads—all on the public dime. He’s also proposing fare-free city buses with expanded service and infrastructure.

The price tag? We’re talking tens of billions. His answer? More tax collectors, more fines on landlords, and “procurement reform”—a bureaucratic buzzword that translates to: we have no idea how to pay for this.

This Is the Road to Economic Collapse—And It's Happening in Broad Daylight

This is the same pattern we’ve seen time and again—from Venezuela to Detroit. Inflate the bureaucracy, punish success, and centralize the economy under the guise of “equity.” It doesn’t end in justice. It ends in shortages, stagnation, and social unrest.

And make no mistake: the Mamdani model isn’t unique to New York. It’s a beta test for national policies. If the feds follow suit—and under current leadership, that's a real threat—you’d better believe your bank account isn’t safe. When states can’t fund their bloated promises, they turn to money printers, wealth confiscation, and asset seizure.

Protect Yourself Before the Inevitable Crash Hits

If Mamdani’s victory teaches us anything, it’s this: you cannot afford to rely on the system to protect your savings. This is the time to move your wealth into real, non-confiscatable assets—gold, silver, and select cryptocurrencies.

Start now by downloading Bill Brocius’ free ebook, “7 Steps to Protect Your Account from Bank Failure”.
Then take the next step and subscribe to Bill’s exclusive Inner Circle newsletter for just $19.95/month—because if you’re not getting your financial intel from someone who saw 2008 before it happened, you’re already behind.

And don’t wait for D.C. or City Hall to fix this. They are the problem.

Stay sharp. Stay sovereign. Stay out of the system.

— Eric Blair, Dedollarize News