(DCNF)—On his show Tuesday, Hoover Institution Senior Fellow Victor Davis Hanson called out Democrat New York City mayoral candidate Zohran Mamdani’s plan to tax “whiter neighborhoods,” arguing that white people aren’t the majority of wealthy earners in the U.S.
As Mamdani’s potential plans for New York City come under the media spotlight, his campaign proposal to raise taxes on wealthier neighborhoods — including “richer and whiter” areas — has drawn repeated criticism. While discussing the candidate’s background on “The Victor Davis Hanson Show,” Hanson said Mamdani comes from a “very wealthy” background.
“We were just talking about entitled people. He goes to Bowdoin College. His dad is a professor of Middle East Studies. His mother’s a filmmaker. He’s very wealthy. He was pampered. He kind of lounged around after college, and then he says he’s going to go after the more affluent and whiter. No, no, no, no, no, Mr. Mamdani. I want to tell you something,” Hanson said.
“I just looked at per capita income by ethnic affiliation. What is the number one ethnic group in the United States on basis of their income? You know what it is, Mr. Mamdani. It’s you,” Hanson added. “It’s people from India. Four years ago, the recent census data, $106,000 was your average income. Now, whiter districts, they’re down to 17 [at] $59,000. And who is between 17 and number one? Other Asian groups, Filipinos, Japanese Americans, Chinese, Taiwanese, Arab, people from the Middle East in some cases.”
Mamdani’s father Mahmood is a renowned postcolonial scholar of Gujarati Shia Muslim background who teaches at Columbia University, while his mother Mira Nair is a well-known Indian‑American filmmaker. After relocating to Manhattan’s Upper West Side, Mamdani attended the Bank Street School, a prestigious private school that costs around $66,000 today, according to Mint.
Since earning his bachelor’s degree from Bowdoin College in Maine, reports show Mamdani’s current net worth sits at $200,000, and he lives in a $2,250 a month rent-stabilized Astoria apartment, Mint reported. Mamdani additionally acquired four acres of land in Jinja, Uganda, which is reportedly valued between $150,000 and $250,000, according to the outlet.
According to Mamdani’s tax proposal, if elected, he would seek to “shift the tax burden from overtaxed homeowners in the outer boroughs to more expensive homes in richer and whiter neighborhoods,” according to his campaign website. His plan to “fix” the issue would involve “pushing class assessment percentages down for everyone and adjusting rates up.”
“So when you say you’re going to go after whiter neighborhoods, you should just say we’re going to go after wealthier people and Asians, because that’s what the data says if you’re going to be a racist about it. But you had to put in that little thing as a little appeal. He’s losing the black vote, and he’s losing the Hispanic vote, and that’s going to go to Eric Adams,” Hanson said.
“He wants to put that thing about whiter in there to see if he can peel off some. He got about 450,000 votes,” Hanson said. “I think there’s five million registered voters in New York. And under this ranked voting, it’s going to be down to just two or three people in the finals.”
Data from the five-year estimates conducted by the American Community Survey show whites hold the highest median household income in New York City at $108,555, followed by Asians at $87,197 and “two or more races” at $71,942, according to Neilsberg.
Nationwide, however, the median income for Indian American households reached $145,000 in 2022, surpassing Asian Americans overall, who hit $100,000, according to the Pew Research Center. Additionally, white families were estimated in 2022 to have a $77,250 median household income in the U.S., according to LendingTree.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.