Non resident luxury tax on $5M + properties.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

I’m here and I’m none of those things…

So you’re a middle village lifer or a trust fund baby uptown. Cool

I have no ideas what those words mean…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

Are these folks not "deserving"?

Not really, no. They can live somewhere cheaper since they have no family ties to NY

Jobs are here

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

I’m here and I’m none of those things…

So you’re a middle village lifer or a trust fund baby uptown. Cool

I have no ideas what those words mean…

Google is your friend

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

How much do you make? Your answer determines whether I respond to the rest of your gormless rambling.


It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

Are these folks not "deserving"?

Not really, no. They can live somewhere cheaper since they have no family ties to NY

So you're upset that people are coming in from elsewhere and making more money? Maybe you should pull yourself up by the bootstraps and earn more.

I make plenty. I’m merely pointing out that the affordability problem New Yorkers face is avoidable for most of them. If your elderly parents aren’t stuck there, you can always move somewhere cheaper. All three groups mentioned are in varying degrees of poverty, believe it or not most wall streeters don’t make enough to buy a three bedroom in Manhattan south of 96th and live a normal life with 2.1 kids

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

Are these folks not "deserving"?

Not really, no. They can live somewhere cheaper since they have no family ties to NY

So you're upset that people are coming in from elsewhere and making more money? Maybe you should pull yourself up by the bootstraps and earn more.

I make plenty. I’m merely pointing out that the affordability problem New Yorkers face is avoidable for most of them. If your elderly parents aren’t stuck there, you can always move somewhere cheaper. All three groups mentioned are in varying degrees of poverty, believe it or not most wall streeters don’t make enough to buy a three bedroom in Manhattan south of 96th and live a normal life with 2.1 kids

How much do you make? Your answer determines whether I respond to the rest of your gormless rambling.

Low seven figures. After taxes, you have to budget tightly with two kids. Tuition, monthlies, and all sorts of smaller expenses have skyrocketed (and not only since Covid). Still, the city is affordable to me. I don’t know how anyone can do it for under 500k if they have kids

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

Are these folks not "deserving"?

Not really, no. They can live somewhere cheaper since they have no family ties to NY

So you're upset that people are coming in from elsewhere and making more money? Maybe you should pull yourself up by the bootstraps and earn more.

I make plenty. I’m merely pointing out that the affordability problem New Yorkers face is avoidable for most of them. If your elderly parents aren’t stuck there, you can always move somewhere cheaper. All three groups mentioned are in varying degrees of poverty, believe it or not most wall streeters don’t make enough to buy a three bedroom in Manhattan south of 96th and live a normal life with 2.1 kids

How much do you make? Your answer determines whether I respond to the rest of your gormless rambling.

Low seven figures. After taxes, you have to budget tightly with two kids. Tuition, monthlies, and all sorts of smaller expenses have skyrocketed (and not only since Covid). Still, the city is affordable to me. I don’t know how anyone can do it for under 500k if they have kids

How much does your Guatemalan nanny make? Is she not allowed to live here?

[Anonymous]

Anonymous wrote:There are pied-a-terres in Maryland??

lol

[Anonymous]

Mamdani is a moron, with that smug, ignorant grin on his face.

I think this tax is a dumb idea. The devil is in the details on it and I highly doubt they will do it right.

And if he wants to get people on his side, why target Ken Griffin of all of them? Mess with the bull, you get the horns. Griffin controls a lot of jobs in NYC - don't want to piss him off. And he is playing 3d chess while Mamdani is playing checkers. If for some reason you want to target someone as a poster child of excess, go after some Russian oligarch or something similar.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

Are these folks not "deserving"?

Not really, no. They can live somewhere cheaper since they have no family ties to NY

So you're upset that people are coming in from elsewhere and making more money? Maybe you should pull yourself up by the bootstraps and earn more.

I make plenty. I’m merely pointing out that the affordability problem New Yorkers face is avoidable for most of them. If your elderly parents aren’t stuck there, you can always move somewhere cheaper. All three groups mentioned are in varying degrees of poverty, believe it or not most wall streeters don’t make enough to buy a three bedroom in Manhattan south of 96th and live a normal life with 2.1 kids

How much do you make? Your answer determines whether I respond to the rest of your gormless rambling.

Low seven figures. After taxes, you have to budget tightly with two kids. Tuition, monthlies, and all sorts of smaller expenses have skyrocketed (and not only since Covid). Still, the city is affordable to me. I don’t know how anyone can do it for under 500k if they have kids

How much does your Guatemalan nanny make? Is she not allowed to live here?

She’s allowed to live here and nanny rates are pretty standard unless you go through a service (then sky is the limit). She cannot complain about affordability when she could easily be a nanny in Peoria. It’s not like she has any ties to NYC such that she has to be here.

[Anonymous]

Anonymous wrote:Mamdani is a moron, with that smug, ignorant grin on his face.

I think this tax is a dumb idea. The devil is in the details on it and I highly doubt they will do it right.

And if he wants to get people on his side, why target Ken Griffin of all of them? Mess with the bull, you get the horns. Griffin controls a lot of jobs in NYC - don't want to piss him off. And he is playing 3d chess while Mamdani is playing checkers. If for some reason you want to target someone as a poster child of excess, go after some Russian oligarch or something similar.

Yep. Dumb choice of target. Details aren’t Mamdani’s strength, it’ll sound good to his base and bring in little revenue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Mamdani is a moron, with that smug, ignorant grin on his face.

I think this tax is a dumb idea. The devil is in the details on it and I highly doubt they will do it right.

And if he wants to get people on his side, why target Ken Griffin of all of them? Mess with the bull, you get the horns. Griffin controls a lot of jobs in NYC - don't want to piss him off. And he is playing 3d chess while Mamdani is playing checkers. If for some reason you want to target someone as a poster child of excess, go after some Russian oligarch or something similar.

Yep. Dumb choice of target. Details aren’t Mamdani’s strength, it’ll sound good to his base and bring in little revenue.

I was not a fan at all of his when he was running - as you noted, he was great at making lots of promises that were clearly unrealistic and this really bothered me. I thought I was pleasantly surprised as he seemed to have at least a few seasoned, reasonable people working directly for him, and I was hoping they would bring him down to earth. But that doesn't really seem to be the case.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mamdani is a moron, with that smug, ignorant grin on his face.

I think this tax is a dumb idea. The devil is in the details on it and I highly doubt they will do it right.

And if he wants to get people on his side, why target Ken Griffin of all of them? Mess with the bull, you get the horns. Griffin controls a lot of jobs in NYC - don't want to piss him off. And he is playing 3d chess while Mamdani is playing checkers. If for some reason you want to target someone as a poster child of excess, go after some Russian oligarch or something similar.

Yep. Dumb choice of target. Details aren’t Mamdani’s strength, it’ll sound good to his base and bring in little revenue.

I was not a fan at all of his when he was running - as you noted, he was great at making lots of promises that were clearly unrealistic and this really bothered me. I thought I was pleasantly surprised as he seemed to have at least a few seasoned, reasonable people working directly for him, and I was hoping they would bring him down to earth. But that doesn't really seem to be the case.

Anti Mamdani voices made it seem like an exodus would happen on day one, but these things take time. It’s not easy to sell your coop and move your kids out of school.

There is a budget shortfall. He needs more millionaires living in NYC and paying income taxes. De Blasio’s tenure and ending the SALT deduction led many, many more millionaires to live in the Southeast and Southwest than there would have been otherwise.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My take: I think Mamdani wants the billionaires who own property but don't pay income taxes to NYC to leave. Why else would he so publicly go after one of them?

But a whole lot will have to leave in order for any of those properties on Billionaire's Row to ever get divided up into smaller, more affordable apartments.

I think NYC is going to go the way of CA, OR and WA. Still very expensive and not a great quality of life.

I think the whole point of these taxes is to improve the quality of life for the 99 percent of people who live in NYC and provide services- teachers, food delivery people, taxis, creatives, cops, etc. No one is expecting a $249M apartment to become affordable housing, don’t be absurd. But if the extra revenue can help plug budget shortfalls, great. NYC has never ever provided a great quality of life in the traditional sense, yet it’s still where people flock to, despite its hardships.

It’s where (1) immigrants, (2) yuppie Wall Streeters, and (3) theater kids who hated HS flock to. Don’t act like NYC is full of deserving Americans who have to be there.

Are these folks not "deserving"?

Not really, no. They can live somewhere cheaper since they have no family ties to NY

So you're upset that people are coming in from elsewhere and making more money? Maybe you should pull yourself up by the bootstraps and earn more.

I make plenty. I’m merely pointing out that the affordability problem New Yorkers face is avoidable for most of them. If your elderly parents aren’t stuck there, you can always move somewhere cheaper. All three groups mentioned are in varying degrees of poverty, believe it or not most wall streeters don’t make enough to buy a three bedroom in Manhattan south of 96th and live a normal life with 2.1 kids

How much do you make? Your answer determines whether I respond to the rest of your gormless rambling.

Low seven figures. After taxes, you have to budget tightly with two kids. Tuition, monthlies, and all sorts of smaller expenses have skyrocketed (and not only since Covid). Still, the city is affordable to me. I don’t know how anyone can do it for under 500k if they have kids

How much does your Guatemalan nanny make? Is she not allowed to live here?

She’s allowed to live here and nanny rates are pretty standard unless you go through a service (then sky is the limit). She cannot complain about affordability when she could easily be a nanny in Peoria. It’s not like she has any ties to NYC such that she has to be here.

the nanny jobs are in big money cities. I have a friend who is a doctor in Peoria. her kid is in a in-home daycare for 40 a day, which she said isnt even on the low-end of the scale. Lots of in-home daycares where a lady takes care of 2 or 3 kids in her home. That's the model in Peoria. she also has emergency daycare on site at the hospital.

[Anonymous]

This is what Mamdani was elected to do. Good job, and hope to see more of this.

[Anonymous]

Anonymous wrote:This is what Mamdani was elected to do. Good job, and hope to see more of this.

But as of now he hasn’t done it. He just forced a continued exodus of financial services jobs.