NYC Will Learn That Socialism Doesn’t Work

By Russ Minary | Guest Commentary, Rocky Mountain Voice

“The problem with socialism is that you eventually run out of other peoples’ money.”  — British Prime Minister Margaret Thatcher

On Tuesday, November 4, Zohran Mamdani was elected as Mayor of New York City. Mamdani is only 34, has never held a real job and openly claims to be a socialist. His Muslim faith was a major part of his campaign. In a city with a lot of Jewish citizens, he won with a majority of votes in a 3-way race. His campaign consisted mainly of a nice smile and a promise to make just about everything ‘free.’ Free transportation, groceries, housing, healthcare and childcare. But he didn’t explain who was going to pay for all of the ‘free stuff.’ 

NYC is about to experience one of its biggest crises, under the leadership of a person who is inexperienced and lacks knowledge of how government in New York and across America works. There will be a mass exodus of the people who have been paying for all of the nonsense in NYC. A recent survey showed that 750-800,000 NYC residents (about 10%) would go elsewhere if Mamdani was elected, and many will.

The New York Stock Exchange can easily move its operations, jobs, offices and wealth to another State like Texas or Florida. And when the people and businesses with the wealth move out, the tax revenues that have been funding NYC will leave with them. Mamdani and his cronies are killing the geese who laid the golden eggs. 

Here is another reason for every legal, hardworking, taxpaying American to be concerned: A Communist who embraces Islam is now the head of our nation’s cultural, media and financial center. The targeting and takeover of NYC by the Left and Islam is not an accident. It has always been their objective.

Mamdani claims he is a ‘democratic socialist’ and not a communist, but his words say something else. Listen to his victory speech very carefully here. At the most basic level, socialism is just ‘communism lite.’  Communism has robbed and oppressed millions and killed millions more.    

Karl Marx, who co-authored The Communist Manifesto, defined his theory thusly: “From each according to his ability, to each according to his needs.”  That raises two questions: 1) who gets to decide what any person’s ABILITY or NEEDS are and, 2) by what standards are those decisions made and enforced fairly?   

Socialism and Communism have some BIG problems. Leaders and party officials in socialist/communist regimes never subject themselves to the same standards as those who live under their authoritarian rule. The leaders get more power, more comfort, more personal wealth, nicer homes and property, more luxury and more freedom than everyone else. But the workers who produce all things of value are stuck in their positions and get whatever their ‘needs’ are according to the leaders – which tends to be little or nothing. 

In both systems, “common or public ownership of resources and means of production” is defined and under the exclusive control of a special class of people who keep a little more. But the other people are stuck with being ‘equal’ to one another. When dealing with real humans, distinctions must be made for special situations like locale or family or hardship or mental capacity or different levels of academic or professional achievement. Communism doesn’t allow that.

Here are just a few examples of how socialism and communism works in the real world.

NORWAY is often touted as a ‘hybrid version of socialism.’ Norway is a sovereign monarchy in whose citizens get a lot of ‘free stuff’ like healthcare, education, transportation and welfare programs. But the free stuff is paid for by certain people. Norway operates a progressive system for income tax, which means that the more you make; the higher your tax rate. That’s a disincentive for anyone who is smart, hardworking and enterprising. But King Harald V of Norway pays NO taxes on his wealth, has a net worth of  $30 million, and has purchased a royal yacht. The Norwegian royal family reportedly costs the state $72 million a year. In 2017, the Norwegian government allocated $32.2 million to the royal house and $11,466,000 to the King and Queen for ‘personal expenses.’ It’s really good to be a socialist leader in Norway.

VENEZUELA was once the wealthiest nation with the largest oil reserves in Latin America. Today, it is one of the poorest and most violent nations in Latin America, and its citizens are starving to death. That change can be attributed to two authoritarian dictators Hugo Chavez (elected in 1999) and his successor Nicolas Maduro (elected in 2013) who were elected by promising a socialist utopia where property and wealth would be confiscated from the rich and distributed fairly to the poor – making everything ‘free.’ But socialism and socialist leaders have driven Venezuela right into the dumper.

Venezuela’s first socialist president Hugo Chavez made a good living. At the time of his death, his personal net worth was estimated at $1-2Billion (or more). His family did pretty well, too. Gabriella Chavez, his second oldest daughter, has a personal net worth estimated at $4.2 billion—which ain’t bad for someone in a nation where socialism makes everyone equal. Apparently, some people in Venezuela are more equal than others. 

Hugo’s successor Nicolas Maduro has done pretty well for himself since becoming El Presidente in 2013. His official annual salary is only $47,000, but his reported net worth is $3Million. That’s pretty nice for someone who lives in a nation where the average person has to live on 8 dollars per month.

Meanwhile, here in the USA, BERNIE SANDERS has done really well as a democratic socialist. In 2025, Bernie reported his net worth at around $3 million which comes from a combination of his political salary ($174K), book royalties, real estate holdings and pensions. While criticizing corporate greed and those other rich people, Bernie made big bucks on book deals. He owns 3 very nice homes with a combined value of $1.9Million. FACT: Bernie and his wife honeymooned in the USSR, which was the most communist nation on earth. Socialism has been very, very good to Bernie Sanders.

I’ve seen firsthand how communism (which is the final stage of socialism) works in the real world, and how it impacts real people’s lives. 

Communist Russia (the USSR aka United Soviet Socialist Republic) was bankrupt and officially dissolved in December 1991. In the vacuum of that failed state, corruption ran rampant, the Russian mafia took power and oligarchs amassed fortunes. Former satellite nations of the USSR were left to fend for themselves. 

In November 2004, I was invited to KIEV, UKRAINE to speak about 3 topics that were of great interest to the people of Ukraine: Capitalism, the US Constitution and Christianity. The Orange Revolution, a grassroots rebellion against Russian oppression and corruption, was in its first few days. I toured the area and spoke to many people, some on the streets and some in positions of power. I visited the Duma, the Ukrainian government chambers. Communism had totally failed them and there was no ‘safety net.’ The money that had paid for all the ‘free stuff’ was gone. 

Every street in Kiev looked about the same. Block after block of 3-4 story, dirty, gray concrete tenement buildings. Store shelves were empty. People sat on the street, trying to sell a few pieces of silverware, some pencils, a pair of used shoes or any other item that might get them some money for food. Many people lived outdoors and slept on benches because they could no longer afford or had been kicked out of public housing. Factories were closed and jobs had disappeared. 

At a charitable support center, a person could get one meal per day (one small sausage in a bowl of oatmeal with a glass of milk), clean clothes and a shower which—thanks to the generous support of  American churches—were free. The people who were helped there were very grateful. 

But in another part of Kiev where Communist leaders and party officials had lived, there were quaint, colorfully painted cottages with trees, parks and playground equipment. The people who lived there had it better than all the other people who lived in Communist Ukraine. 

Ironically, Russian President Vladimir Putin may now be one of the richest people on earth with assets estimated at $200 billion. Putin was a KGB operative for the USSR, and is now a totalitarian dictator and oligarch who has made a fortune while pretending to be a communist. In these types of ‘democracies,’ elections are like two wolves and a sheep taking a vote to decide what to have for lunch. 

Capitalism is imperfect but it provides the opportunity to work, enjoy individual freedom, follow your conscience and beliefs, accumulate wealth and property, to rise above their circumstances, improve their lot in life, start a business and succeed through hard work, risk and innovation.

NYC will be a practical test of what works and what doesn’t. I’m betting that Capitalism, the Constitution, and Christianity will win sooner rather than later. Someone once said that the best conservative is a liberal who just got mugged. A lot of New Yorkers won’t like what is about to happen to them.

Russ Minary is a retired sales executive, marketing consultant, small business owner and veteran. He helped businesses with hiring, talent consulting and organizational effectiveness before retiring.

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