Michael Bloomberg, ex-mayor of New York and billionaire, donated $5 million plus to Andrew Cuomo’s losing bid for mayor. Cuomo lost but is staying in the race because he thinks he can win in the general election. This leaves billionaire New Yorkers in the dilemma of which incredibly weak candidate (Cuomo or Adams) to throw their cash at in their effort to stop Mamdani.
Before you shed too many tears for Bloomberg, realize that he dropped all this money when it became apparent that Cuomo might lose and the people with money were desperately trying to drag Cuomo over the finish line. He probably knew he was flushing money down the toilet but he had to start somewhere, Cuomo’s losing campaign was as good a place to start as anywhere.
If a normal person were to donate $100 to a political campaign, it hurts a little. $5 million is a lot of dollars to drop on one mayoral campaign, yet Bloomberg seems to be more alarmed about a Socialist running the city than the fact he blew 5 million on a loser. Even after such a large loss of money, he is financially able to throw even more money at any candidate that might beat the Commie Mamdani. Think about it. He lost $5 million dollars and still has money burning in his wallet to give away to really lackluster candidates.
Bloomberg is also donating to other candidates running for city offices in the upcoming general election. This is not without consequence in how Bloomberg is seen at City Hall. Some officials might have the courage to vote against one of their bank rollers, but they certainly would feel obligated to sit down in a tony Manhattan eatery and listen to what Bloomberg has to say. Particularly if Bloomberg is paying. Bloomberg is getting access that the average New Yorker is unable to get.
If anyone has this type of cash, they also have enough cash to pay more taxes. Let’s face it if he is willing to panic contribute to a losing campaign, he can afford to drop some money in the public till for a better pay for government employees, better services for the poor, more money for education and a whole list of general welfare needs.
What about a law that if a person can contribute $1 million or more in any one campaign they must also pay an equal amount in taxes. It doesn’t discourage small contributors and big contributors get a reality check and, perhaps, think a bit harder before blowing their wad on losers like Cuomo.