Wall Street powerhouse Apollo Global Management\u2019s plans to locate a second US headquarters<\/a> outside NYC is the latest example.<\/p>\nAnd all this on top of a new Bureau of Labor Statistics employer survey that flags the loss of 20,000 Big Apple jobs in 2025, even though the state and city comptrollers had both expected an increase of 40,000.\u00a0<\/p>\n
With companies heading out, the job loss seems only set to grow.<\/p>\n
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So is the mayor announcing a raft of regulations he aims to relax to retain businesses? <\/p>\n
Calling for a roll-back of New York\u2019s job-killing minimum wage? Pushing tax cuts to stem the flight?<\/p>\n
Ha. Mamdani still seeks to sock taxpayers for every penny he can. <\/p>\n
And on Monday, he made clear what concerns him the most: racial equity.<\/p>\n
The mayor released two reports: one outlining a framework for addressing supposed racial bias in city government; the other reporting the city\u2019s \u201cTrue Cost of Living\u201d \u2014 a bizarre, made-up number that lets Mamdani somehow claim 62% of New Yorkers don\u2019t earn enough to \u201cfully participate in the economy and save for the future.\u201d<\/p>\n
The racial equity report has already caught the attention of the Justice Department for potential \u201craced-based\u201d policymaking.<\/p>\n
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Mamdani hopes his reports will shore up ties to alienated black voters. He claims affordability issues \u2014 the high cost of child care and housing, for instance, rather than, say, crime or lousy schools \u2014 are driving out black working-class New Yorkers.\u00a0<\/p>\n
Let\u2019s set the record straight: New York government (which is what Mamdani\u2019s racial equity report focuses on) hasn\u2019t be racially biased for years. <\/p>\n
The city elected its first black mayor more than 37 years ago, and its second in 2021. Both state legislative leaders are black, and blacks have held numerous other top political positions at both the city and state level. <\/p>\n
And, yes, Gotham is expensive, but that\u2019s often because of the ridiculous policies pushed by progressives and socialists like Mamdani. Not racism.<\/p>\n
The corporate taxes and minimum wage he wants to raise, for example, will only mean higher prices for the public. <\/p>\n
Rent freezes will further erode the city\u2019s housing stock, making it harder to find an affordable apartment.<\/p>\n
Meanwhile, Mamdani has no plan to grow the economy. None.<\/p>\n
Heck, he\u2019s yet to tap someone to head the Economic Development Corporation and is the first mayor in recent memory not to have a deputy mayor for economic development.<\/p>\n
Then again, he does have a deputy mayor for economic justice.<\/p>\n
Clearly, the mayor has his priorities screwed up. The city needs its businesses and jobs, not plans to address nonexistent racial bias in government.<\/p>\n
If he doesn\u2019t change course, New Yorkers will pay a heavy price \u2014 or leave the city altogether, along with all those companies.<\/p>\n","protected":false},"excerpt":{"rendered":"Not even 100 days into Mayor Zohran Mamdani\u2019s term, Gotham is already facing grim economic prospects. So what…\n","protected":false},"author":2,"featured_media":188980,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[7483,15660,17446,16531,304,2375,3415,9,24,55,54,56,299,25011,2780,3417,82],"class_list":{"0":"post-188979","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-apollo-global-management","9":"tag-corporate-taxes","10":"tag-dei","11":"tag-economics","12":"tag-editorial","13":"tag-jamie-dimon","14":"tag-jobs","15":"tag-new-york","16":"tag-new-york-city","17":"tag-new-york-city-headlines","18":"tag-new-york-city-news","19":"tag-ny","20":"tag-opinion","21":"tag-steven-fulop","22":"tag-taxes","23":"tag-wall-street","24":"tag-zohran-mamdani"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/188979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=188979"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/188979\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/188980"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=188979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=188979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=188979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}