New York City’s new mayor has wasted no time putting his socialist agenda into motion, and financial executives are already sounding the alarm.
Zohran Mamdani, who took office on January 1st, has promised sweeping “democratic socialist” policies, including rent freezes, universal childcare, free public transit, and even city-run grocery stores. To pay for these initiatives, he plans to raise taxes sharply on anyone earning over $1 million and hike corporate tax rates.
The reaction from the business world has been swift. Financial firms in New York are reportedly exploring relocations in droves, and Dallas Mayor Eric Johnson says his city is fielding a surge of inquiries from companies looking to escape NYC’s new economic regime.
“I’m already getting phone calls. We’re already having more conversations than we’ve ever had before, more interest in moving to Dallas by New York-based financial firms,” Johnson told Fox News.
Johnson, who switched from Democrat to Republican in 2023 after facing protests demanding he defund the police, has branded Dallas the nation’s first “Sanctuary City from Socialism.” He believes New York’s policy choices have created a perfect storm for corporate flight.
>> Click Here To Continue Reading <<
