I'm Jerry Willis, and this is the Fox Business Rundown.

Friday, October 3rd, 2025.

A deep look at the socialist threat in America

and why some voters appear to be cooling on capitalism.

The market believes what is happening in Washington right now is a show, and it is a show.

Democratic nominee Zoran Mamdani continues to hold a significant lead in the New York City mayoral polls,

despite business leaders warning his progressive policies could spark an exodus of both companies and residents.

His platform includes tax hikes on top earners, rent freezes, and promises like free buses and free child care.

His popularity in our country's largest city highlights the concern that capitalism is becoming less popular.

A Gallup poll from last month says only 54% view capitalism favorably down from 60% in 2021. Meanwhile, 39% of Americans in that same

poll say they have a positive perception of socialism. Despite a track record of failed experiments across the world,

voters and lawmakers seem to be warming to socialist-inspired policies.

For example, up to 18 states have experimented with a universal basic income program.

A new Fox Business Special looks at this trend

and examines the failures of socialism in the past

and how governments are now trying to reverse the economic damage done.

David Asman is the host of the new four-part Fox Business series, Socialism Threat.

You, David, have a fantastic special coming up on Fox Business, the socialism threat.

I want to start with a question about something that I see very close to us right now in our faces in New York City.

Zoran Mamdani, the man who will probably be the mayor of New York City, wants to get rid of a special program for gifted students

in elementary school. Parents are jumping up and down about this. They don't like it. Does this smell

of socialism to you? Well, it smells of the socialist elites at any rate who want poverty and equality on a very low level for everybody except them.

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