Elon Musk warns NYC candidate’s policies would hurt living standards

Billionaire Elon Musk He warned in an interview that the policies of New York City mayoral candidate Zahran Mamdani, a democratic socialist, would cause a significant decline in living standards.

Musk, CEO of Tesla and SpaceX, appeared on “The Joe Rogan Experience” and acknowledged that Mamdani is the front-runner in the mayoral race but said his agenda, if implemented, would hurt New Yorkers’ quality of life.

“Mamdani is a charismatic hustler,” Musk said. “I mean you have to hand him, like, he can light up a stage, but he’s just been a con man his whole life.”

“If Mamdani’s policies were implemented, especially on a large scale, it would be a catastrophic decline in living standards, not just for the rich, but for everyone. As has been the case with every socialist experiment,” Musk added.

New York City mayoral candidate Mamdani stresses socialist policies like free buses and universal child care

Mamdani, who is currently a member of the New York State Assembly, has campaigned aiming to implement a range of socialist policies if he wins the election. New York City mayor race.

His platform calls for raising New York City’s minimum wage to $30 an hour by 2030, along with raising the corporate tax rate to match New Jersey’s 11.5% rate. Also called Al-Mamdani Cancellation of bus fares and creating a global childcare policy.

How much will Democratic Socialist Mamdani’s agenda cost New York City taxpayers?

New York State Assemblyman Zahran Mamdani is a self-described democratic socialist in terms of his political preferences. (Angela Weiss/AFP/Getty Images)

He has proposed building 200,000 new units of “permanently union-built, affordable rental homes” over the next decade, while also immediately freezing rents for tenants in rent-stabilized units.

The Mamdani platform also includes creation City-owned grocery stores It would operate on a lease-free basis without property tax liabilities, with stores buying and selling merchandise at “wholesale prices” to give consumers a “public choice” in the grocery store market.

Prediction markets favor Democrats in Election Day races in New York, New Jersey and Virginia

Mamdani campaigned on raising taxes to fund his plans for free buses and child care. (Ping Guan/Reuters)

Mamdani defended his proposed tax increases in an interview with Martha MacCallum on Fox News.The story“last month.

“I’ve said repeatedly that I think these are the most direct ways we can fund universal child care, make buses fast and free, and I’ve said the two obvious ways to do it: increase personal income taxes on the top 1% by 2% and increase the corporate tax to match the personal income tax. New Jersey corporate tax “Now, if there are other ways to raise this money to fund this agenda, the most important thing is that we fund the agenda,” Mamdani said.

He also opposed the need to cut spending in other areas of the city budget to fund his priorities.

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“I don’t think we should cut taxes,” Mamdani said. “I’ve talked about raising taxes on the rich. And frankly, that’s a problem we have here in New York City, and frankly, even across this country. And when I talked to Trump voters here in New York City — Hillside Avenue in Queens, Fordham Road in the Bronx — they told me it was the cost of living that made them vote for Donald Trump.”