You have three castes in New York: the executive caste, the political caste, and the serfs. The executive caste rides around in taxis and black cars, or drives their own luxury cars to paid-for corporate parking spaces, lives in the wealthier parts of Manhattan or the more affluent suburbs, and sends its children to private or suburban schools. Its capital gain and investment income is taxed at favorable rates, but this caste nonetheless pays much of the city’s taxes. The political caste drives its own or city cars to public parking spaces reserved for it by placard, receives much its pay in tax-advantaged retirement income and employer-financed health care, lives in the middle-caste suburbs (even if required to live within the city) or in a limited number of suburban-type city neighborhoods, and sends its children to suburban or “special” city public schools. To the extent that in the past there were special “middle income” housing deals on offer, such as Mitchell-Lamas, the political caste got them.
It seems that both the political caste and the executive caste are in favor of extending, in fact repealing, term limits. And based on the polls, the serfs are not.