Sen. Elizabeth Warren expressed concern for working-class families in New York City during a CNBC appearance, criticizing the notion that raising taxes on billionaires would harm the wealthy's presence. She emphasized that many working families are forced out due to high living costs, arguing that economic justice initiatives proposed by mayoral candidate Zohran Mamdani, including city-owned grocery stores and universal childcare, are necessary. Data from Columbia University indicates that a significant portion of New Yorkers struggles to afford basic necessities, further illustrating the need for systemic change.
"Oh dear, are you worried that billionaires are going to go hungry?" Warren questioned in response to concerns about raising taxes on the wealthy to fund economic initiatives.
"Do you know how many working families are chased out of New York City every day because they can't afford housing, they can't afford groceries?" Warren pointed out the struggles of working families.
Data from Columbia University and Robin Hood shows that 1 in 4 New Yorkers can't afford essentials like housing and food, highlighting the economic challenges facing residents.
Real estate brokers have expressed skepticism about wealthy New Yorkers actually leaving the city despite threats, indicating a disconnect between rich residents' claims and economic reality.
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