Rough on the people in the middle who aren't working for the government already. The people at the very top aren't going to get hurt in nyc, they own the machine regardless of what the mayor says and he knows it. He'll soak the middle class folks who don't have any machine connection and make a lot of noise about helping the poor. The net result will be very little but big media will magnify and glorify every thing he does.
Sworn in by Bubba who he used to work for. Made the statement that he would raise taxes on the wealthy to help those in need. This is going to be fun to watch from afar, kinda like Chicago. Limbaugh will be having a field day with this guy.
He will kill the already unbalanced tax-base in NY by finding ways to significantly raise taxes on the wealthy and business. NY gets a huge percentage of their tax-base from the financial district, but there is nothing other than inertia to keep those firms in NY. The city will begin to decline as people and businesses leave (this takes time- think Magpul) and he will respond by trying various "escape" taxes and raising taxes on the middle class. In other words, the exact same thing as is happening in France under Francoise Hollande and his 75% millionaire tax.
That's just on the tax side. I also expect crime to go up considerably and regulations.