I have been following Andrew Yang since his presidential run. He has refreshingly innovative ideas and does not sound like your stereotypical politician (highly recommend listening to some of his interviews). With NYC going through some tumultuous times and questionable leadership at the helm, do you think Yang could bring back the city to what it once was as mayor?
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Nope.
The only good thing this guy is doing is trying to extend the Ali Act to the UFC.... that is something I can get behind.
Didn't he run on this one idea of Universal Income and that was it?
That is definitely one of his main points of emphasis. For New York, he is running on UBI, technology-based incentives to get vaccinated, equal access to high-speed internet, reducing the homeless problem by using vacant office spaces/hotels (would provide massive savings to what the city currently pays for the homeless), etc. Very interesting and outside-the-box thinking on problems that would be beneficial to NYC in theory.
As a former Californian,and a present day citizen, I've learned that people are too fucking stupid to try something novel and outside the standard playbook. He's going to get shut down like he did in Cali
No. Quite frankly, he’s only running so that he can get political experience. His hope is eventually be in the WH. Can’t knock the guy for ambition but I can tell his policies are going to be based on performative gestures as opposed to effective and efficient policies that make economic sense. NYC needs a real manager who can get shit moving. Not another ideologue who overpromises a perfect society.
What do you think about Ray McGurie?
Think he’d be great for the NYC economy and great manager of our fiscal issues. All the big banks and business folks in the city mainly support him. I do worry about him getting support from the common person because he is from the banking world and he is seen as well off. I’d vote for him but you know the liberal and socialist “eat the rich” are running rampant in the city these days...
Yang an ideologue? I don't think so.
The reasons he provides for his policies like UBI aren't really economically sound but that's really his rhetoric for getting those ideas accepted by the uninformed mass.
If you look into it, his economic agenda makes a lot of sense, particularly the tax code.
1) UBI is essentially a form of negative income tax just worded differently. Mankiw explains this very easily.
2) VATs are far better than high income taxes. Don't tax the income, tax the spending of it. This means higher incentives to save money and to make better spending judgements. For the middle class and below, this is huge. I'm not for VATs on everything but VATS on luxurious goods should do well. Wealthy people will still buy those goods while the middle and lower class people are now less likely to act on their "wealth envy". Seems to strike at the heart of NYC's overly materialistic culture.
3) Yang is for subsidies on housing. Particularly at overcrowded cities like NYC, this is actually a good idea. 2 case studies - Singapore and HK. Both small (land size wise) but packed cities with large population. HK doesn't have any government intervention in the housing market and the prices are fucking crazy. Even high income earners live in tiny-ass apartments.
Singapore saw through the obvious market failure that would happen and offers subsidized housing and state-run housing for the middle and lower class. (In fact housing one of 4 things that Singaporean government is actually involved in) The result is people can actually live in decently sized aprtments without going bankrupt.
Tbh, NYC would be a MUCH better place to live just with these 3 policies implemented.
Can you elaborate on why disincentivizing spending is a good thing to do during a recession/economic crisis? My intuition is that income more inelastic than spending (i.e., people will cut spending in response to a high VAT tax more quickly than they'll leave the state due a high income tax). I just don't get the economic rationale when we need more stimulus/spending to maintain some semblance of economic activity, not less. I think Yang is a decent candiate, but this point has me a bit concerned.
This is not a good way to look at Hong Kong and Singapore, both of which feature a ridiculous portion of adult children that still live with their parents. Hong Kong in particular uses land sales to developers to subsidize low taxes. As such, HK's expensive real estate and unaffordable living is actually by design and not due to a lack of government subsidies or other policies. You can either see that as something essential to keeping the city's status as a global financial center, or just a really shitty way of taking from the poor to give to the rich.
The impact of high housing prices is well documented within the field of Human Geography (part of which you see playing out in real time in NYC, with the movement of young people to the Sun-Belt as the theoretical suburbanization / sprawl has failed to truly materialize for Manhattan). I'm not really sure if subsidies to housing are the answer, vs. improved public transportation and opportunity zones in lower COL areas outside Manhattan.
His ideas sound great, but what are the chances he will actually get this done in NY?
A higher VAT hurts the common guy more than the rich guy because the common guy would spend a bigger portion of his salary on consumption, and therefore has less to save, whereas a richer person could easily save more money, which would lead to a higher relative taxation for the common guy.
For example: VAT = 10%, Common Guy makes 4000$ a month, rich guy makes 50000$ a month.
Living in NYC, the common guy would have to consume a bigger portion of his salary, let´s say 3700$ a month. He would pay 370$ in VAT. His relative taxation would be 9,25%
If the rich guy spends 30000$ a month, he would pay 3000$ in VAT. His relative taxation would only be 6%.
It's somewhat ironic that you need to be more competent to run a city than to "run" the nation because mayors actually engage in the dirty work of governance whereas presidents act much more as a figurehead for the executive branch.
I'm in. Can't be worse than De Blasio
If it was Trump vs De Blasio running, Trump would win hands down.
A baloney sandwich would be better than De Blasio
Short answer: no. There are so many cooks in the kitchen here in the city council etc that want NY to be a shit hole.
It is really simple: the job of a mayor is to manage a city. Make sure the garbage is picked up, make sure crime is under control, etc, etc. Everyone has such bright ideas and just completely neglects the job description. de Blasio is a really good example of this, idea after idea while the other stuff goes by the wayside.
Born and raised in Manhattan all my life whilst my parents were born and raised in Queens and Brooklyn respectively, so we have a lot of different perspectives. Something we universally agreed on was that bodega video that he posted was just so cringey and not like NYC. Obviously some of NYCs most celebrated mayors like Ed Koch and Bloomberg did not grow up here, but they did not set themselves up as an everyday New Yorker. To me, my parents, and many people we know, Yang just comes off as a transplant (which he is) and extremely cringey. He is trying to relate to hte 6 million nyc residents who don't live in the wealthy parts of Manhattan, Queens, Brooklyn, or The Bronx and regardless of how economically sound his policies may theoretically be, we simply cannot relate to him. Candidates like Scott Stringer, Diane Morales, Eric Adams are not perfect either, but me and my parents relate to them so much more because they grew up here, went to school here, lived a life very similar to us and are New Yorkers like us. As much as policies should matter in voting, I would also like to relate to who I vote for, and Yang is just not it. He is an upstate transplant who is trying too hard to act like he is really from here.
Yeah I get what you mean by transplant. He has a residence in Manhattan but it does feel like he’s trying too hard. Being from NY, there are certain things I do that are natural to me. Therefore, I never have to prove my authenticity by visiting a “bodega”.
There is nothing wrong with being a transplant or not growing up here. Ed Koch and Bloomberg did not but they didnt try to assert themselves as a new yorker. That whole branding thing really turns me off.
Giving money to people is not an innovative idea.
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