The politics and tax strategies of New York's new mayor Bill de Blasio could have people fleeing the city, John Fund, national affairs columnist for National Review Online and senior editor at The American Spectator, says.
"People are going to start to leave New York City. People who thought about coming to New York aren't going to come," Fund told "The Steve Malzberg Show" on Newsmax TV.
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"The bottom line is his initiatives require a much bigger tax increase than what he's saying. Remember the old saying, everybody who says I'm only taxing the rich, you know, they have very bad aim and eventually they're going to tax you."
He said de Blasio's ideology is that of democratic socialism.
"He described himself as that before he entered the Clinton administration and had to mainstream himself in the 1990s," Fund said.
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