What is ironic about the potentially incoming minimum wage increase is that it would actually reduce profits. Increasing the minimum wage makes small businesses go out of business. Because the minimum wage is so high the small store owners are not able to hire and pay these workers and the small stores eventually go out of business. What is ironic about rent control and price freezing is that it actually reduces the supply of apartments to rent. When there is a price ceiling on the rent the landlords cannot charge the amount of rent that they need to upkeep the building. When the landlords cannot upkeep the building it will either get run down and eventually destroyed, or what I think Mamdani is up to is that through these price freezes the landlords won't be able to run the building anymore, and eventually, the government of New York City will take ownership of the buildings and the government will run the apartment buildings and New York City will turn into a socialist nightmare. As we saw from the 2015 rent freezes, the supply of stabilized units fell by over 3 percent. The vacancy rate dropped to below one percent.
Pointing out that policies meant to increase profit actually decrease profit is a good point. It is important to understand the long term effects of policies.