Here are the “rich” Mamdani wants to tax

[Winston]

I posted a photo of a bungalow that sold for $900k.

Are we going to pretend that this little bungalow means the owner is worth a lot of money? It is BARELY middle class!

View attachment 1231862

So now, middle class people buy $900,000 homes?

 

[Marener]

You are so delusional and illogical.

Who said the elderly owner of the little bungalow paid cash? He probably bought it for $80,000 in 1975, with a mortgage.

Sounds like nearly a million in capital gains with no tax burden for it.

Kind of crazy if you ask me.

Regardless, having an estate worth nearly $1 million is not typical, especially for the middle class.

 

[Lisa558]

Sounds like nearly a million in capital gains with no tax burden for it.

Kind of crazy if you ask me.

Regardless, having an estate worth nearly $1 million is not typical, especially for the middle class.

In NYC, the elderly have estates of $1 million if they own a little bungalow. This is how the middle class live in NY.

The point is that it takes SO much money to live in NY that even those with $2 million estates live modestly. Here’s a house for sale for $1.8 million in Brooklyn:

 

[Nostra]

As usual, your anger is directed in the wrong place.

Your anger should be against your employer, who decided to dump you into an ACA plan instead of actually buying a plan for their employees.

I only had to go on an ACA plan once for six months (Because the contract I was on didn't include HC.) What I paid was actually less than what I am paying for my insurance now through an employer.

Now one of the dumber things that happened was that when I got married, my wife was on an ACA plan, and when our incomes were combined, we had to pay back the subsidy she was getting. (Even though we weren't married at the time, or even living together.)

So, Barrycare sucks sweaty donkey balls.

 

[Marener]

In NYC, the elderly have estates of $1 million if they own a little bungalow. This is how the middle class live in NY.

The point is that it takes SO much money to live in NY that even those with $2 million estates live modestly. Here’s a house for sale for $1.8 million in Brooklyn:

View attachment 1231867

Sure, and that’s still a pretty sizable estate.

It’s not like the government is kicking elderly to the curb. The estate tax occurs after they’re dead.

You’re all emotion here.

 

[Lisa558]

Sure, and that’s still a pretty sizable estate.

It’s not like the government is kicking elderly to the curb. The estate tax occurs after they’re dead.

You’re all emotion here.

You’re all stupidity.

You are missing the fact that estates of $1 to $2 million in NYC barely provide a middle-class lifestyle, and Mondami wants to reach all the way down to a $750k cut-off to give money to the ghetto rats.

 

[Marener]

You’re all stupidity.

You are missing the fact that estates of $1 to $2 million in NYC barely provide a middle-class lifestyle, and Mondami wants to reach all the way down to a $750k cut-off to give money to the ghetto rats.

I wasn’t aware that estates were there to provide a lifestyle. I thought that’s what jobs were for.

Inheriting a million is way more than almost anyone could ever expect and definitely not a normal thing for middle class families. You’re so out of touch.

Your use of the term “ghetto rats” is so loaded, and dripping with disdain. Just disgusting.

 

[martybegan]

How the hell are the heirs "worthy"? Yes, I can make an argument that the government is more worthy of at least some of that money than the heirs. Again, it goes back to unrealized capital gains.

**** that. Someone who made the wealth should be able to decide who gets it when they are done.

Another person who sees the government superior over the individual.

What a good wibble commie cuck you are.

 

[Lisa558]

I wasn’t aware that estates were there to provide a lifestyle. I thought that’s what jobs were for.

Inheriting a million is way more than almost anyone could ever expect and definitely not a normal thing for middle class families.

Your use of the term “ghetto rats” is so loaded, and dripping with disdain. Just disgusting.

Who says inheriting a million? An elderly person with an estate of $1 million should be able to leave $200,000 to each of his 4 kids and another $200,000 to the charities of his choice.

Why should Momdani get any of that to fund Islamic Day Care Fraud Centers, and enrich the Muslims who will send the money back to Somalia or wherever?

 

[Lisa558]

**** that. Someone who made the wealth should be able to decide who gets it when they are done.

Another person who sees the government superior over the individual.

What a good wibble commie cuck you are.

Don’t forget: Winston has bragged about raising his six kids on welfare.

 

[Marener]

Who says inheriting a million? An elderly person with an estate of $1 million should be able to leave $200,000 to each of his 4 kids and another $200,000 to the charities of his choice.

Why should Momdani get any of that to fund Islamic Day Care Fraud Centers, and enrich the Muslims who will send the money back to Somalia or wherever?

Ah, so now they have 4 kids. Amazing. You’re emotional appeal gets narrower and narrower.

Now we are overly concerned with the financial wellbeing of four kids of a Brooklyn parent who bought a house for $80k which is now worth $900k and the concern is that the kids might miss out a marginal amount of inheritance.

Oh, and if they donate $200k to charity, that would reduce the amount of the estate to nearly the exclusion and result in a taxable estate of $50k. Even if the rate were 50%, which is very doubtful, the effective tax rate on the estate would be 3 percent.

Oh the horror! How will they ever overcome this?

 

[Nostra]

I wasn’t aware that estates were there to provide a lifestyle. I thought that’s what jobs were for.

Inheriting a million is way more than almost anyone could ever expect and definitely not a normal thing for middle class families. You’re so out of touch.

Your use of the term “ghetto rats” is so loaded, and dripping with disdain. Just disgusting.

What business is it if your what someone else does with their estate?

 

[Nostra]

Ah, so now they have 4 kids. Amazing. You’re emotional appeal gets narrower and narrower.

Now we are overly concerned with the financial wellbeing of four kids of a Brooklyn parent who bought a house for $80k which is now worth $900k and the concern is that the kids might miss out a marginal amount of inheritance.

Oh, and if they donate $200k to charity, that would reduce the amount of the estate to nearly the exclusion and result in a taxable estate of $50k. Even if the rate were 50%, which is very doubtful, the effective tax rate on the estate would be 3 percent.

Oh the horror! How will they ever overcome this?

None of your business, loser.

 

[Meister]

I wasn’t aware that estates were there to provide a lifestyle. I thought that’s what jobs were for.

Inheriting a million is way more than almost anyone could ever expect and definitely not a normal thing for middle class families. You’re so out of touch.

Your use of the term “ghetto rats” is so loaded, and dripping with disdain. Just disgusting.

It's NOT the governments money, the taxes were already paid, and this is
the money of the person who made it and what he wanted done with it after
his death. PERIOD.
I sure can tell who the givers and takers are on this board.

 

[Meister]

Don’t forget: Winston has bragged about raising his six kids on welfare.

If this is true, he didn't raise his kids on Welfare.
We the taxpayers raised his kids with our tax dollars

 

[Marener]

It's NOT the governments money, the taxes were already paid, and this is
the money of the person who made it and what he wanted done with it after
his death. PERIOD.
I sure can tell who the givers and takers are on this board.

You don’t know what you’re talking about.

There’s no taxes paid on the unrealized capital gains without an estate tax.

 

[Meister]

You don’t know what you’re talking about.

There’s no taxes paid on the unrealized capital gains without an estate tax.

So when the person made the money for investing, it wasn't taxed? Is that what you're saying?
At some point, that money will be taxed when the unrealized capital gains become realized.
I also imagine that there would be dividends involved along the way.

 

[Marener]

So when the person made the money for investing, it wasn't taxed? Is that what you're saying?
At some point, that money will be taxed when the unrealized capital gains become realized.
I also imagine that there would be dividends involved along the way.

The principle was taxed. The capital gain wasn’t.

When it’s inherited, the cost basis is increased to market value at time of inheriting.

If a person buys a house for $100k, and dies when its worth $1 million, the cost basis of the house goes up to $1 million for the inheritors and they can sell it without any tax burden.

 

[Woodznutz]

Someone with a $750k estate would pay no taxes, since that’s the exemption. The estate would only pay a marginal rate above that value.

Under this proposal, which we haven’t seen.

Are we going to pretend that $750k isn’t a lot of money? You’re out of touch.

At the time of death the city will raise the appraisal to glean as much in taxes as possible (It's called "robbing with a fountain pen").

750K isn't that much for a retiring couple that wants to maintain a similar lifestyle.

 

[Lisa558]

If this is true, he didn't raise his kids on Welfare.
We the taxpayers raised his kids with our tax dollars

True.

And it’s also true that he said he intentionally worked minimal hours in order to keep all six of his kids qualified for welfare.

That explains why he wants more of your and my money.