Stossel on Mamdani Part 2

[Diving Mullah]

This one is even better than the first. Did you know most NYC subways were built and run by the private sector? All kinds of interesting tidbits in this video:



Edit: What is also interesting is that Mamdani won't meet with Stossel to defend his ideas.

YES, I did know that...

There is a cool museums that you can visit and it has the whole history, same with SF trolley and Sacramento Train museum it is awesome!

It’s absolutely true that the New York City subway system began and expanded, for its first three decades, under private sector ownership and management. The Interborough Rapid Transit Company (IRT) and the Brooklyn-Manhattan Transit Corporation (BMT) built and operated most of the city’s lines, often with private capital, under long-term leases with the city from 1904 until the late 1930s. These companies financed construction, managed operations, and even set fares—under city limits

But By the 1920s, the city grew increasingly dissatisfied with private management, citing overcrowding and service limitations. New York began planning its own subway routes, resulting in the creation of the Independent City-Owned Subway System (IND) in 1932, which the city built and ran directly--So much for Private companies doing it better than government!

By 1940, both the IRT and BMT—struggling financially after decades of fare cap and deferred maintenance—were bought out by the city. All lines came under municipal control, and the modern New York City subway became a public enterprise by law. <Might MOUSE Sounding song!> "HERE COMES GOVERNMENT TO SAVE THE DAY!"

Lesson Learned: While private-sector innovation was crucial in the subway’s birth and early expansion, the eventual public takeover was driven by practical challenges: mass ridership, financial sustainability, expansion needs, and political pressures. Today, New York’s subway is managed by public agencies accountable to elected officials, not private shareholders.

What is your point!!!

Diving Mullah

 

[Jezcoe]

establishment dems are going to find themselves having to defend capitalism and markets, both of which they loathe.

I don’t think that you understand establishment Dems.

 

[NJBob]

No, it's not a lie. Most of them were built by the private sector around 1900, and then taken over by the government in 1940.

This is factual correct.

 

[Simpletruther]

This is a lie. NYC took control of all three subways systems in 1940. They're run by MTA New York City Transit.

You don't appear to have understood the claim you responded to. Nor does it appear you watched the link.

 

[markdc]

He should have everyone in a dither. Nothing he claims will come true. He'll bankrupt NYC and lay it on the backs of the poor the same as always happens. The rich will move as soon as he tried to raise taxes. They'll move their company headquarters to a more business, tax friendly state. Who will be left? The people he's scamming with his socialist claims that have never worked anywhere.

If too many people, especially rich people, leave NYC while Mamdani mayor, then he can follow the example of his Communist ancestors and a build a wall around the Big Apple complete with barbed wire and guard towers.

Mark

 

[NJBob]

If too many people, especially rich people, leave NYC while Mamdani mayor, then he can follow the example of his Communist ancestors and a build a wall around the Big Apple complete with barbed wire and guard towers.

Mark

Where would the rich people go? Even with somewhat higher taxes NYC would still check off more boxes than anywhere else.

It’s amazing how Mamdani strikes fear in the Right. Their biggest fear is that he will be successful as mayor.

 

[aociswundumho]

It’s amazing how Mamdani strikes fear in the Right. Their biggest fear is that he will be successful as mayor.

Two things would have to happen for him to be considered a success. First, he'd have to get his policy goals enacted. One of those is building 20,000 public housing units a year. I’m not sure who's going to want to live next to a public housing project, but that's his plan. Then there is free child care and free buses. Getting these through while working with career bureaucrats and politicians will be a challenge, especially since, as far as I can tell, he has no organizational skills, has never had a real job, and is basically a spoiled rich kid.

Second, those policies would actually have to improve the lives of New York City residents. Rent control, government-run grocery stores, free childcare, and free buses might sound nice on paper, but in practice they won't make the city more affordable or livable. In fact, they'll do the opposite.

He does have one good idea though.