FOX NEWS -- CNBC host David Faber battled Sen. Elizabeth Warren, D-Mass., over raising taxes in New York City and Democratic socialist Zohran Mamdani's economic policy proposals on Monday in a fiery back and forth. 

"You mentioned Mamdani and you are in New York sort of speaking on behalf of him to a certain extent," Faber said on CNBC's "Squawk on the Street." "New York does not operate in a vacuum. It competes with other cities. And so this idea of somehow raising taxes on the wealthiest New Yorkers, who, by the way, would point out pay roughly 15 percent of their income right now between city and state. Raising taxes on them will simply drive them away."

"Shouldn’t the focus of a mayor be on delivering services to the constituents of the city and doing that by raising the most revenue as possible without chasing businesses and the high-income taxpayers out of the city?" he asked. "Because they can go to Austin. They can go to Dallas. They can go to Atlanta. They can go to Nashville. This is your issue. It’s a national issue, not a local issue."