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Mamdani’s Bad Ideas, Part 2: Free Buses, $30 Minimum Wage & Rent Freezes

John Stossel6:20

Transcription

Socialist politicians are on the rise. I'm running for mayor. This Democratic socialist will probably be the next mayor of Minneapolis. And socialist Zoron Mandani is likely to be the next mayor of New York City.

We have to continue to elect more socialists. And we have to ensure that we are unapologetic about our socialism.

But they should be apologetic. Socialism always fails. In my last video, I covered some of Mom Donniey's bad ideas, but he has more. So, I made this second video.

This campaign is for every New Yorker who believes that government's job is to actually make our lives better. [Applause]

Mandi says he'll make our lives better by giving us free stuff. I'll make child care available to all New Yorkers at no cost. I like where he stands on um freezing rent um making public transit uh cheap and free. Child care universal at no cost to New York family. Buses fast and free for every New York.

And yet he has noticed that government doesn't do a great job. Now, these are the slowest buses in the country.

Buses and subways are a good example of socialist confusion about what makes things work. I ask people, who do you think built New York City subways? I think it was the government either President Eisenhower or maybe like a mayor. Union workers. It's logical to think that public transportation is something that must be done by government. Who else could afford to dig tunnels and create this system where everyone, rich and poor, ride for relatively little money? No private business would do that. The greedy owners wouldn't be able to charge riders enough to make a profit.

But actually, the original subways in uh New York were all private. It carried tens of millions of passengers. Private companies built most of the subways. Then after 50 years, they said, "Let's raise the fair from a nickel to a dime." People didn't like the idea of paying a higher fair. Uh and the mayor took advantage of that and said, "Well, fine. The government will take it over and we won't raise the fair." But of course, government did raise it. Now a ride costs almost $3. And the subways have problems. Tunnels are deteriorating. Delays are inevitable.

And when government tries to build new subways, they struggle. This one was supposed to be done in 1938. Then they said 1980. It's still not done. And it's already the world's most expensive subway line. They work so slowly that the subway cars built for it, cars that cost a million dollars each now won't be used because they no longer fit the tracks. That's what you get when government runs things.

The socialist politicians also say they'll make workers lives better by raising the minimum wage to $30 an hour. That's popular. Last year, California's fast food workers celebrated the new $20 minimum wage. My workers, we did this.

But when companies have to pay even beginners at least $20 an hour, Pizza Hut preemptively laid off 1,200 delivery drivers like Michael O'Hada. What's the point of the raise if you don't have a job anymore? 18,000 fast food jobs vanished while other states added jobs. Also, consumers have to pay more. Restaurants in the state have increased prices by 10% faster than all other states.

It's just supply and demand. Socialists can force businesses to raise wages, but there's no free lunch. Employers respond either by raising prices or replacing workers with machines like Flippy. Flippy can cook everything from French fries and onion rings to cheesesticks. White Castle said it plans to add 100 Flippies to its kitchens nationwide.

Finally, here's one more socialist idea that repeatedly has done more harm than good. We freeze the press. Activists like that, but they only like it because they don't realize it creates shortages everywhere. It's been tried. St. Paul, Minnesota imposed rent controls, the most stringent measure in the country.

So, in St. Paul's twin city, Minneapolis. Socialist Aisha Chugtai said, "I want us to to follow their lead." She's now vice president of the Minneapolis City Council. But when I interviewed her, she didn't even know that rent control stopped most apartment building in St. Paul. Builders still build in Minneapolis. Building permits were up 65%. But in St. Paul, they're down 60%. Because of rent control. You're not going to get more apartments by pushing this.

Her silence reveals so much. I mean, don't politicians research issues before imposing government force on others? I'm going to maintain that guaranteeing housing for people and making sure that they can stay in their homes matters more than anything else does. They just don't get it.

I'd love to ask the man who's probably going to be my new mayor, how will your socialist policy succeed when every other socialist government everywhere in the world has brought misery and poverty? So far, he hasn't responded to my interview requests. It's too bad. So, Ryan, you're just down the street. Come here. Defend your socialist ideas. Our studio here is open to you. Unlike most of the media, we at Stell TV believe in limited government. If you want to help us defend that idea, please click that button. [Music]