Reply to Non resident luxury tax on $5M + properties.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

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. [/quote]

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. [/quote]

Are these folks not "deserving"?[/quote]

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

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. [/quote]

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 [/quote]

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

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 [/quote]

How much does your Guatemalan nanny make? Is she not allowed to live here? [/quote]

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