The Democratic Party is fracturing as its socialist wing rises, and even loyal liberals are turning against New York's new direction — bad news for party unity heading into the 2026 midterms.

• New York's mayor Mamdani released a public list of nearly a million addresses tied to a proposed tax on high-value homes, prompting backlash that it amounts to a "target list."
• Longtime liberal Scott Galloway, who backed the tax and was open to Mamdani, says he's been doxed and calls the move a "wanted poster" rather than tax policy.
• Critics note most listed addresses don't even qualify for the tax, and the tax would raise far less money than City Hall claims.
• The Democratic Socialists of America are being cast as a "Trojan horse" taking over the party, with figures like Bill Maher and James Carville distancing themselves.
• Big Democratic donors like George Soros and Reid Hoffman have gone quiet, leaving the party far behind Republicans in cash ahead of the midterms.

Outlook: Expect the fight between establishment Democrats and the socialist wing to deepen, with a real reckoning likely at the 2028 primaries.