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NCS panelists Lydia Moynihan and Leigh McGowan clashed Saturday over taxing the rich, with tensions boiling over throughout a debate over New York City Mayor Zohran Mamdani’s anti-capitalist rhetoric in addition to a Democratic proposal to tax luxurious second houses owned by the ultra-wealthy.
The change escalated after Moynihan, a New York Post columnist, defended billionaires like Elon Musk, arguing they’ve “deserved every single penny” of their wealth whereas crediting capitalism with elevating general dwelling requirements.
“That’s the most ludicrous statement you’ve ever made,” McGowan fired again, bringing warmth to the dialogue.
“They are making money off the American taxpayer, off the American government, after deals with SpaceX. I don’t know why you’re shilling for these people. It’s nuts.”
NEW YORK MAYORAL HOPEFUL ZOHRAN MAMDANI SLAMS CAPITALISM ON NCS, CITES MLK TO DEFEND SOCIALISM
Lydia Moynihan, left, sits onstage in the course of the Unmasking Hate… Exposing Extremism panel at Unite Against Extremism on April 29, 2026 in New York City.; Leigh McGowan, proper, on the Emily’s List sixth Annual Pre-Oscar Breakfast held on the Beverly Hills Hilton on Mar. 7, 2023 in Beverly Hills, Calif. (Roy Rochlin/Getty Images for End Jew Hatred / The Lawfare Project; Gilbert Flores/Variety by way of Getty Images)
Moynihan pushed again towards the “PoliticsGirl” host, stressing that capitalism has improved high quality of life and warning that overtaxing the wealthy could drive excessive earners out of locations like New York, the place prime taxpayers already shoulder a disproportionate share of the burden.
“With [Elon Musk’s] money, he’s literally letting blind people see, he’s letting paralyzed people walk,” Moynihan mentioned, referencing the work of Musk’s firm Neuralink.
“I would like him to have cash, not Elizabeth Warren, who’s gonna funnel it to fraud.”
New York City Mayor Zohran Mamdani backed a proposal to tax luxurious second houses owned by non-residents, focusing on ultra-wealthy property homeowners. (Michael Nagle/Bloomberg by way of Getty Images)
The back-and-forth got here because the panel debated a proposal from New York Democrats, together with Mamdani, that may impose a tax on luxurious second houses valued above $5 million.
Supporters like McGowan say the measure would generate a whole lot of hundreds of thousands in income whereas focusing on ultra-wealthy property homeowners.
“It’s like a pied-à-terre tax. It’s going to make about $500 million dollars a year for the city, 98% of the city is for it. I don’t know why we wouldn’t want that,” she mentioned.
‘WE’RE TAXING THE RICH’: NYC MAYOR MAMDANI TOUTS NEW $500M-A-YEAR TAX ON LUXURY SECOND HOMES
An individual holds a placard studying “just tax the rich already” throughout an illustration in Rennes, northwestern France, on Sept. 10, 2025. (Damien Meyer/AFP by way of Getty Images)
“This idea that you can afford to live in a $200-million-plus home that you don’t actually live in and you can’t afford to pay more taxes is kind of insane,” McGowan added, evaluating the ultra-wealthy to “hoarders” with a “mental problem” for amassing their wealth.
“I think this hurts no one. I think we have to stop defending the people who are hoarding their wealth.”
Moynihan shook her head, visibly annoyed, then launched right into a takedown of McGowan’s feedback:
“In New York, about the top 1%… pay about 50% of the taxes, so if you look at the numbers, I think Mamdani is going to be in a tough spot because people will continue to leave,” she mentioned. “That’s just the reality.”
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NCS’s Abby Phillip finally interjected, chopping off the back-and-forth to acknowledge that, whereas capitalism has been a supply of prosperity, a few of the wealthiest wouldn’t be of their place if not for assist from the federal government.