CNN panelists erupt over taxing the ultra-wealthy as one defends Elon Musk's billions as 'deserved'

CNN panelists Lydia Moynihan and Leigh McGowan clashed Saturday over taxing the wealthy, with tensions boiling over during a debate over New York City Mayor Zohran Mamdani’s anti-capitalist rhetoric as well as a Democratic proposal to tax luxury second homes owned by the ultra-wealthy.

The exchange escalated after Moynihan, a New York Post columnist, defended billionaires like Elon Musk, arguing they have "deserved every single penny" of their wealth while crediting capitalism with raising overall living standards.