Renowned television host and political commentator Bill Maher had harsh words for Gen Z and its growing embrace of socialism following the victory of Democratic Socialist Zohran Mamdani in the New York City mayoral election early this month.
Maher Criticized Gen Z’s Love For Socialism
On his show, Real Time With Bill Maher, last week, Maher said that Gen Z’s disillusionment with capitalism is understandable, but misguided.
“If you’re 30 and still sharing a bathroom with roommates, capitalism isn’t working for you,” he said, while mocking the generation’s growing romanticism of socialist ideals. “Socialism, to put it simply, just doesn’t work and has never worked,” he said.
Maher cited several historical precedents to support his point. “In 1990, Venezuela was wealthier than Poland,” he said, adding that after the nation decided to trade “capitalism for Hugo Chavez’s socialism for the 21st century,” it ended up in a mess.
“It turned one of Latin America’s richest countries into one of its poorest,” he said, adding that it has since led to “Low wages, high inflation, shortages, outages,” alongside “8 million people fleeing.”
He concluded by warning voters, especially those in New York, that they were “in for a rude awokening,” if they thought that the city could somehow “reinvent this wheel.”
Economic Failures Driving Youth To Socialism
Earlier this month, billionaire investor Peter Thiel echoed similar concerns, blaming factors such as stringent zoning regulations that tend to favor property-owning baby boomers, while making housing unaffordable for millennials, which he said has led to this political realignment.
“If you proletarianize the young people, you shouldn't be surprised if they eventually become communist,” Thiel said in an interview last week.
Similarly, former White House Communications Director Anthony Scaramucci referred to Mamdani’s win as an “anger-based reaction” by young Americans against baby boomer policies.
According to Scaramucci, the boomer political elites overspent, overpromised and undertaxed, which has since led to “wild levels” of deficit spending.
Gen Z Resorts To Income Stacking
This comes amid growing instances of economic hardship among Gen Z and millennials. According to Fiverr’s annual Next Gen of Work survey, Gen Z workers are increasingly turning to income stacking, which involves layering side gigs, freelancing and small businesses to ensure financial security.
“Gen Z is watching the single-paycheck model wobble, and instead of waiting for it to steady, they’re building safety nets of their own design,” Michelle Baltrusitis, Fiverr’s Associate Director of community and social impact.
The latest data from the National Association of Realtors shows that just 1.14 million Americans bought their first home in 2024, down from 3.2 million who did so two decades ago.
Experts blame this on the rising “affordability gap,” alongside high borrowing costs, which are forcing Gen Z and millennials to either live with their parents or stay in rental housing for longer.
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