Mamdani’s emphasis on socialism and redistribution of wealth runs counter to Wall Street’s preference for unbridled capitalism and policies that support growth, such as deregulation and low taxes. The 33-year-old has supported taxing the ultra-wealthy, financial transactions and passive income like dividends. He has also endorsed a state-level wealth tax and increased marginal income tax rates on high earners.
Hedge fund magnate Bill Ackman said he woke up Wednesday “a bit depressed” by Mamdani’s victory. The Pershing Square chief said he’s now looking at the logistics for another candidate, not himself, to run.
Lawrence Summers, the former Treasury Secretary and president of Harvard University, also expressed his distaste Mamdani’s nomination.
Guys, Bill Ackman and Larry Summers are sad. 😂
I’m willing to swap my house with any of these poor depressed oligarchs that feel obliged to flee the city. It’s in a conservative run state if that sweetens the deal.
Mamdani’s emphasis on socialism and redistribution of wealth runs counter to Wall Street’s preference for unbridled capitalism and policies that support growth
Mamdani’s policies do support growth. If the people have more money, they can spend more, and that stimulates the economy.
Two campers are setting up camp and decide to build a fire. One camper decides that the hest way to keep warm is to throw as much wood on the fire as humanly possible and keep doing that all night. The other says “Hold on won’t we run out of wood really fast if we do that?” The first says “Don’t worry we’ll just find more wood.”
“What if the fire gets out of control and burns the whole camp?”
"Don’t worry about it, the fire will self regulate. If it burns too quickly logs will collapse and slow the fire "
“Won’t that just send burning embers everywhere?”
“WHY ARE YOU ASKING ALL THESE QUESTIONS YOU’RE ANTI FIRE! DON’T YOU WANT US TO BE WARM!?”
I hear guillotines can cure afluenza derived depression.
I hope they don’t act on those sad feelings
I do not understand how people can have so much fucking money and not want to actually help people with it. But maybe that’s why I’m poor
It’s really simple. If you aren’t a sociopath, you never reach having so much money.
This is exactly the reason why. People would say, some rich people are philanthropist. But its never free, its for influence and power.
Wealthy elites being depressed shows it’s the right direction.
I fucking love this headline
It’s from CNBC too, so you know they meant it straight rather than schadenfreude.
policies that
support growthonly exist to further empower the rich, such as deregulation and low taxesFixed it for you, cnbc.
This is HORRIBLE! What happens when these Rich People who Dont Pay Taxes or Fire People LEAVE? WHAT will Happen when their Homes are Vacant and they ARENT Tearing up our Infrastructure while STILL not Paying Taxes? The HORROR!
How will we get all that private jet pollution we crave?
How will politicians survive without payments to their campaign ?
Who will trickle down on us poor peasants?
Who I ask you!
Oh no how unfortunate.
Good.
Lolz 😂
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