Hey gang, it’s me, Dr. Steve, your patron professor, here to help you make sense of the madness as the far left desperately tries to stop the unstoppable rise of a new conservative age that you are making happen all over the world. So if you want a front row seat on how you’re changing the world of ways you never even imagined, make sure to smack that bell and subscribe button. Within hours of Mamdani’s victory speech targeting President Trump, the mayor-elect found himself in the political crosshairs from not one but two directions at the same time.

Trump promised federal consequences even arrest if Mamdani goes through with his attempt at interfering in ICE agents enforcing the law. New York Governor Kathy Hochul just quietly pulled the plug on his funding dreams, and the city’s business community, they’re already packing moving trucks and heading south. Now, President Trump didn’t mince words when asked about the newly elected socialist mayor who vowed to defy federal immigration enforcement. Several weeks back, Trump said explicitly that they would indeed arrest Mamdani if he tried to interfere in federal law enforcement, and after Mamdani stood on stage during his victory speech, fist clenched and delivered a direct message to Trump promising to obstruct federal immigration enforcement and protect criminal illegal aliens from ICE deportation, the response from the Trump administration was swift and it was devastating.

Trump made that promise, and we’re keeping that promise. Every criminal alien we take off the street in Chicago, Los Angeles, New York, makes those neighborhoods safer, so you ought to be calling President Trump up and thanking him for making his neighborhood safer. And not only is President Trump threatening to arrest Mamdani, he’s revealed that he’s already investigating whether he’s here in this country legally or not, and Trump has already demonstrated he means business since the beginning of that disastrous government shutdown back on October 1st, Schumer shut down, which of course they just embarrassingly and colossally lost.

Trump has withdrawn $18 billion earmarked for major New York infrastructure projects, and that was just the opening salvo. Now, it’s not just Trump. Mamdani appears to be busy blowing himself up just by his own mathematical and economic illiteracy. He appears to fundamentally misunderstand how tax brackets work. I don’t know if you heard about this, but during his campaign, Mamdani promised a modest, this is what he called it, a modest $20,000 tax increase on millionaires. Now, he told voters that anyone making a million dollars per year would pay an extra $20,000 under his 2% millionaire tax.

Okay, it sounds reasonable, right? There’s just one problem. That’s not how marginal tax rates work. New York City uses a marginal tax bracket system with four current brackets, so your income is divided into segments. With each segment, tax progressively higher rates, so 3%, 3.7%, 3.8%, finally 3.9% on every dollar you earn above $50,000. Mamdani’s plan would add a fifth bracket at 6%, so he would go up two more percentage points for every dollar earned above $1 million. Here’s the brutal reality. Someone making exactly $1 million would not be paying an extra $20,000.

They would be paying an extra $0.06. That’s right, six pennies. The $20,000 figure only works if you incorrectly apply the 2% tax hike to the entire $1 million income, but these are marginal tax rates. They don’t apply to the entire income, only the income that one makes above $1 million. They only apply to every dollar one makes above $1 million. Marginal tax rates apply only to the income above the threshold. So he fundamentally misunderstood accounting. That’s even being gracious. This isn’t a minor accounting error. It’s a fundamental misunderstanding of the tax system he’s proposing to overhaul.

Lesson be learned, this is why you do not put a trust fund liberal who majored in Africana studies and who never had a real job in charge of the economy of the nation’s largest city. I mean, I don’t even know how else to say it. If the mayor elect can’t do basic tax math, how on earth can New Yorkers trust him to manage a $110 billion city budget? And it gets worse. While Trump threatens from DC, New York governor Kathy Hochul just dropped what is perhaps the biggest bombshell of them all.

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Head on over to Turley dot pub slash recap and sign up now. It’s free. It’s encouraging and it’s the perfect way to end your week on a high note. New York governor Kathy Hochul is quietly strangling Mamdani’s agenda from Albany. And here’s the devastating twist. She endorsed him, right? Hochul publicly backed Mamdani over former governor Andrew Cuomo back in September, riding the wave of his popularity. But now that he’s actually won, she’s systematically dismantling every promise he made to voters. She’s already said that his whole promise to eliminate bus fares and make public transportation free is DOA.

It’s just it’s not happening. The independent budget office estimates that fare free buses would cost New York nearly $700 million annually. The MTA already lost $315 million to bus fare evasion in 2022 alone. And Hochul was already invested in a $68.4 billion MTA capital plan. So she’s just not about to blow a hole in that funding. But the real death blow, Mamdani can’t raise taxes without her. Under New York state law in Article 16 of the state constitution, only the state legislature holds the power to tax. The city cannot create new taxes or change existing rates without approval from the legislature and governor in Albany.

And Hochul is facing her own re-election battle literally 12 months from now in 2026 against Republican Representative Elise Stephanie. And she’s repeatedly stated she’s not going to raise taxes, certainly not in an election year. She can’t without hurting her chances at re-election. And so now if Mamdani can’t raise taxes, he shot every promise he made from free buses to universal child care from city run grocery stores to rent freezes is all dead on arrival. Mamdani’s entire platform hinges on massive tax increases that will never happen. His team estimates that universal child care alone would cost between $5 billion and $8 billion annually.

Add fare free buses at $700 million, rent freezes, city-owned grocery stores, and you’re looking at over $10 billion in new annual spending. And his only funding plan is a 2% income tax on millionaires, which he completely miscalculated and raising the corporate tax rate from 7.25% to 11.5%, which is already causing business owners and investors to leave the city. Remember, capital is mobile. Capital moves. So when companies face un-profitability through taxation, what do they do? They leave. And when they do, they take everything, direct tax payments, jobs, income taxes, sales taxes from employees, property taxes.

And now they leave you with what? Empty buildings. We’ve already seen this mass exodus. I mean, Florida real estate prices are through the roof. They’re estimating $100 million of real estate investment influx just in the last week. And it’s not just Florida. We’re getting word that New Hampshire is getting tons of interest from business owners and residents who just want to escape the insane taxes in New York, but stay in the Northeast. So I mean, it’s just, again, you couldn’t script this better. Ma’am Donnie now faces an impossible situation. He’s getting threatened from DC.

He’s getting threatened from Albany with Hochul refusing to approve the tax increases, leaving him with zero revenue and zero promises fulfilled. And he’s getting threatened from Wall Street with business leaders fleeing capital evacuating. One association estimating $8.7 billion already being redirected as we speak to Florida. Actually, it’s three states, Florida, Texas, and Tennessee. The tragedy unfolding in New York is what happens when revolutionary rhetoric meets basic arithmetic. You can’t freeze rents when landlords go bankrupt. You can’t run free bosses when the system loses $700 million annual. And you can’t build socialism when your governor won’t give you the money and the president is threatening to arrest you.

While red states are booming in President Trump’s golden age, New York stands as the cautionary tale, proof that when you elect ideology over competence, fantasy over math, and rhetoric of reality, you get exactly what you voted for. [tr:trw].

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