The Big Money Show Discusses Zohran Mamdani’s Campaign

A panel on “The Big Money Show” recently talked about New York City mayoral candidate Zohran Mamdani’s campaign and his policy proposals. Mamdani, who is 33 and identifies as a democratic socialist, is pushing for an increase in the minimum wage to $30 an hour by 2030, up from the current rate of $16.50.

He argues that a higher minimum wage could deter employers from hiring inexperienced workers, as it might encourage them to replace entry-level positions with automated technologies like kiosks and tablets. This could make it more challenging for people, especially teens, to find their first jobs.

On that note, in states where the minimum wage was raised significantly—California, for instance, now sits at $16.50—teen unemployment rates have spiked. For workers aged 16 to 19, the unemployment rate reached 21.2% in 2025, compared to a national average of 12.3%. Some experts worry that this might limit opportunities for young workers, impeding their ability to learn essential job skills that would help them later in their careers.

A small business owner in Colorado expressed concern about Mamdani’s wage proposal, stating that paying inexperienced teens $25 an hour is quite unrealistic. This raises questions about how feasible such a dramatic wage increase would be for employers.

Even though Mamdani stands firm on his proposal, the reality is that neither the mayor of New York City nor the city council has the power to implement these wage changes directly; that authority rests with the New York State Department of Labor.