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‘Escape From New York’: Researcher predicts NYC business exodus if Zohran Mamdani wins

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Zohran Mamdani’s promises to freeze rents and raise taxes on corporations could trigger a New York City business exodus, Michael Toth, a research fellow at the University of Texas at Austin’s Civitas Institute, told Fox News Digital.
Businesses have railed against Mamdani’s progressive platform since his primary win shocked the political establishment, with leaders like Gristedes CEO John Catsimatidis sounding the alarm on Mamdani’s plans to open city-run grocery stores and raise taxes on the 1% if he wins in November.
«We have a far-left socialist mayor who’s trying to take control of the epicenter of global finance,» Toth said in an exclusive interview. «It’s like oil and water.»
Toth, a legal commentator on economic and regulatory reform, explained why Mamdani becoming mayor would trigger a «stampede» of businesses out of New York City in his essay, «Escape From New York.»
SOCIALIST’S NYC MAYORAL WIN SPARKS FIERCE DEBATE OVER FEASIBILITY OF RADICAL POLICY AGENDA
New York mayoral candidate Zohran Mamdani speaks during a press conference in New York City on Aug. 11, 2025. (Michael M. Santiago/Getty Images)
The Texas-based researcher argued that Mamdani’s policies «are obviously not what has built New York City into the city that it’s become,» through leading finance, media and communication industries.
NYC OFFICIAL WARNS BUSINESSES WILL FLEE ‘IN DROVES’ IF DEMOCRATIC SOCIALIST CANDIDATE WINS MAYORAL RACE
«If I’m a New Yorker, and I’m looking for an affordable place to live, it’s not going to be in a city where Zohran Mamdani is running,» Toth said.
Affordability has been central to Mamdani’s campaign. His platform also includes promises like fast, free buses and free childcare, contrasting his «grassroots energy» to his general election opponents, former Gov. Andrew Cuomo, Mayor Eric Adams and Republican nominee Curtis Sliwa.
«Billionaires – and the politicians who do their bidding – have made New York City unaffordable for too many New Yorkers and now, this campaign is mobilizing tens of thousands of volunteers ready for a new kind of politics,» campaign spokesperson Dora Pekec said in a recent statement announcing more than 230,000 campaign doors.

New York City Democratic mayoral nominee, Zohran Mamdani, spoke to supporters at a canvass launch event in Prospect Park on Sunday, Aug. 17, 2025. (Deirdre Heavey/Fox News Digital)
But Toth said that Mamdani is lacking a key understanding of supply and demand.
«He completely shortchanges how hard it is for businesses to stay afloat and to consistently bring products to their customers,» Toth said.
«More supply is better for consumers,» Toth said. «More government mandates is worse for consumers because it drives prices up.»
Toth said New York City’s mayoral election is consequential, not just for its residents, but for Americans, arguing there could be a «continued reorientation of the American capital markets to places like Dallas and Florida.»
If New Yorkers elect Mamdani, «these policies are going to set the city back decades,» Toth said.

Supporters gathered in Prospect Park on Sunday, Aug. 17, 2025, to relaunch city-wide canvassing efforts ahead of the Nov. 4 mayoral election in New York City. (Deirdre Heavey/Fox News Digital)
Mamdani has maintained that he doesn’t like capitalism, telling CNN’s Erin Burnett in June that he has «many critiques of capitalism.»
When asked about the criticism from business leaders, particularly grocery stores owners, Mamdani told Fox News Digital it will be possible for a «partnership» between the city and grocery store and bodega owners, despite his plan to open five city-run grocery stores if elected mayor this November.
«I am interested in working with each and every New Yorker, and I’ve actually spoken with a number of grocery store owners and made clear to them that I both recognize, and I appreciate the work that they have done. The fact is that they are a critical part of our communities,» Mamdani said.
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Despite Mamdani’s reassurances, real estate moguls have signaled support for Adams and Cuomo recently rallied support among local business leaders as pressure mounts to consolidate support against Mamdani.
The latest Suffolk University CityView poll revealed that 45% of New Yorkers are very or somewhat likely to vote for Mamdani in November’s general election for mayor, with a 20-point lead over Cuomo.
Fox News Digital reached out to Mamdani’s campaign for comment but did not immediately hear back.
zohran mamdani,elections,politics,nyc mayoral elections coverage,2025 2026 elections coverage,new york city
INTERNACIONAL
UN Ambassador Waltz reveals Trump’s Middle East peace plan is ‘the only way forward’

Ambassador Waltz: No one will be left behind in Gaza
U.S. Ambassador to the U.N. Michael Waltz joins ‘Fox & Friends’ to discuss efforts to return American bodies still being held by Hamas, drug boat strikes off Venezuela and why the U.S. is a ‘hard no’ on the U.N.’s global carbon tax proposal.
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EXCLUSIVE: U.S. Ambassador to the United Nations Mike Waltz told the U.N. that President Trump’s historic Middle East peace plan is «the only way forward» as he negotiates a resolution that would codify the Trump administration’s Gaza deal in the international body in a way that is «fully consistent with an America First agenda.»
Fox News Digital spoke exclusively to Waltz after he convened partners and allies to discuss the United States’ intention to present a resolution to the U.N. Security Council on Gaza.
The resolution will endorse the Board of Peace, set parameters for Gaza’s transitional governance and launch the International Stabilization Force outlined in the president’s 20-point Gaza peace plan.
MIKE WALTZ SEES TRUMP’S GAZA PLAN AS ‘ONCE-IN-A-GENERATION OPPORTUNITY FOR PEACE’
U.S. Ambassador to the United Nations Mike Waltz (Getty Images)
«Only President Trump has the ability to bring all sides together, just as he did at Sharm El-Sheik,» Waltz told Fox News Digital. «He’s the only person who can truly bridge the divides between the Israelis, the Palestinians and others in the region.»
AS TRUMP ADMIN PUSHES GAZA PEACE PLAN, HISTORY SHOWS UN PEACEKEEPING’S MIXED RECORD
Waltz said the president’s plan is «the best chance for real peace in the Middle East in a generation.»
«And, frankly, it’s a real test for the United Nations — to step up, support the president’s plan and start implementing it,» Waltz told Fox News Digital.
«We’ve seen the death and destruction the war in Gaza caused,» Waltz said. «If we can rally the international community to come together and resolve it using the tools of the U.N., that’s absolutely the right thing to do, and it’s fully consistent with an America First agenda.
«This process of securing peace in Gaza with a Security Council resolution is really about getting the U.N. back to basics,» Waltz continued. «That’s what we’re calling it — back to basics. It’s about strictly focusing on establishing and keeping peace and, in this case, supporting what the president has already set in motion.»

World leaders, including President Donald Trump and Egypt’s President Abdel Fattah al-Sisi, pose for a photo at a world leaders summit on ending the Gaza war, in Sharm el-Sheikh, Egypt, Oct. 13, 2025. (Suzanne Plunkett, Pool Photo via AP)
President Trump’s plan to end the Gaza conflict calls for Gaza to be a de-radicalized, terror-free zone that does not pose a threat to its neighbors. It also calls for Gaza to be redeveloped for the benefit of the people of Gaza and more.
Under the peace plan, Israeli forces would withdraw from the region, and a temporary transitional governance of a technocratic, apolitical Palestinian committee, responsible for delivering the day-to-day running of public services and municipalities for the people of Gaza will be created.
US MILITARY TO OVERSEE NEXT PHASE OF PEACE DEAL FROM COORDINATION BASE IN ISRAEL
That government will be under the oversight of a new international transitional body called the «Board of Peace,» chaired by President Trump and other members and heads of state.
The resolution would essentially make the plan international law, a U.N. source said.
As for timing, a U.N. source told Fox News Digital that negotiations typically take months in the United Nations, but the U.S. Mission is hoping to get this done in «weeks.»
«We are looking to move quickly,» the source said. «The ceasefire is fragile. We don’t want things to fall apart in any way, shape or form. The sooner we get this resolution done, the sooner countries can begin contributing troops to the stabilization force.»

U.S. President Donald Trump poses with a signed agreement during a world leaders summit focused on ending the Gaza war in Sharm El-Sheikh, Egypt, Oct. 13. (Suzanne Plunkett/Getty Images)
The source also told Fox News Digital that representatives from the United Arab Emirates, Egypt and Qatar — not members of the Security Council — presented the resolution with Waltz and the U.S. Mission to the broader Security Council.
«We think that’s really strong,» the source said. «This is about getting humanitarian aid in, stabilizing, governing and rolling up our sleeves and getting to work and having the international community pay for it.»
EXPERTS URGE TRUMP TO BAN TERROR-LINKED UN AGENCY FROM HIS GAZA PEACE PLAN
The source said the resolution would create a mechanism, led by Jared Kushner, Middle East envoy Steve Witkoff and Secretary of State Marco Rubio that would ensure «the dollars are going to be used efficiently with a private sector mentality in mind.»
Rubio has said the Trump administration is «seeing things we never thought we’d see before, like the number of countries willing to participate in this effort, be it through money or personnel, or both or expertise.
«We’ve never seen this sort of international cohesion behind something,» Rubio said. «So, we have to be pursuing those opportunities because they’re really great, historic and important.»
Meanwhile, the source said the U.S. is «in the thick of negotiations» but is «moving lightening-fast by U.N. terms.»

Secretary of State Marco Rubio listens to a question as he speaks to the media after visiting the Civil-Military Coordination Center in southern Israel Oct. 24, 2025. (Getty Images)
«They do not want to be part of opposing the best chance we’ve had for peace in a generation,» the source said. «And they don’t want to play the part of bureaucratizing and then being responsible for the fighting resuming.»
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The president has described the peace plan as «the start of a grand concord and lasting harmony for Israel and all the nations of what will soon be a truly magnificent region.»
«I believe that so strongly,» Trump said of the plan. «This is the historic dawn of a new Middle East.»
israel,united nations,middle east
INTERNACIONAL
Canadian spy chief warns of alarming rise in teen terror suspects, ‘potentially lethal’ threats by Iran

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Canadian Security Intelligence Service (CSIS) Director Daniel Rogers, during a rare public appearance Thursday, said nearly one in 10 of the agency’s terrorism investigations include at least one person under the age of 18, an alarming trend driven by online extremism.
Since 2014, there have been nearly two dozen violent extremist attacks in Canada resulting in 29 deaths and at least 60 injuries, according to Rogers.
Worryingly, he said, nearly one in ten terrorism investigations at CSIS, the country’s domestic spy agency, include at least one «subject of investigation» under the age of 18.
In August, a minor was arrested in Montreal for allegedly planning an attack on behalf of the terrorist group Daesh, according to Rogers.
Dan Rogers, a national security and intelligence advisor, made a rare speech Thursday. (Reuters/Blair Gable/File Photo)
THE NEW MAFIA: TRUMP, CIVIL RICO AND THE GLOBAL INTIFADA
Just a few months earlier, a 15-year-old Edmonton-area minor was charged with a terrorism-related offense, after Royal Canadian Mounted Police (RCMP) investigators feared the teen would commit serious violence related to COM/764, a transnational violent online network that manipulates children and youth across widely accessible online platforms.
Rogers also noted two 15-year-olds were arrested in Ottawa for allegedly conspiring to conduct a mass casualty attack targeting the Jewish community in Canada’s capital in late 2023 and early 2024.
«Clearly, radicalized youth can cause the same harms as radicalized adults, but the societal supports for youth may help us catch radicalization early and prevent it,» Rogers said. «These tragic numbers would have been higher if not for disruptive actions taken by CSIS and our law enforcement partners.»

Multiple attacks over the last year were intercepted by Canadian authorities, officials said. (Fox News Digital/Lisa Bennatan)
The CSIS joined the RCMP and intelligence partners from the U.S., United Kingdom, Australia and New Zealand in releasing a joint public report in December, highlighting the evolving issue of young people and violent extremism.
The report provides advice to parents, guardians and others with information to help them identify early concerns and address youth radicalization before it’s too late.
«Since 2022, CSIS has been involved in the disruption of no fewer than 24 violent extremist actions, each resulting in arrests or terrorism peace bond charges,» Rogers said. «In 2024, CSIS played an integral role in the disruption of two Daesh-inspired plots.
«In one case, a father and son were allegedly in the advanced stages of planning an attack in the Toronto area. In another, an individual was arrested before allegedly attempting to illegally enter the United States to attack members of the Jewish community in New York. In these examples, and in many others I can’t discuss publicly, our counter-terrorism teams have partnered with law enforcement and saved lives.»

Canadian officials said they also blocked potentially ‘lethal threats’ by Iran. (Mert Alper Dervis/Anadolu Agency)
ONLINE ‘GORE’ FORUMS ARE ‘GATEWAY TO EXTREMISM’ IN MASS SHOOTINGS, NORMALIZING HORROR FOR KIDS: EXPERTS
He attributed the radicalization to «eroding social cohesion, increasing polarization and significant global events,» which he said «provide fertile ground for radicalization.»
«Many who turn to violence radicalize exclusively online, often without direction from others,» Rogers said. «They use technology to do so secretly and anonymously, seriously challenging the ability of our investigators to keep pace and to identify and prevent acts of violence.»
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Rogers also noted the CSIS collects intelligence and defends against transnational repression, previously focusing on transnational repression by the People’s Republic of China, India and others.
«In particularly alarming cases over the last year, we’ve had to reprioritize our operations to counter the actions of Iranian intelligence services and their proxies who have targeted individuals they perceive as threats to their regime,» he said. «In more than one case, this involved detecting, investigating and disrupting potentially lethal threats against individuals in Canada.»
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INTERNACIONAL
Tensión entre israelíes y palestinos: el asalto a una mezquita, la última muestra de la creciente violencia colona en Cisjordania

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