Here are the “rich” Mamdani wants to tax

[Cellblock2429]

Housing the homeless.

What a moron!

/—-/ The communist mayor closed the men’s shelter because it was run down. It could have been remodeled and expanded for $20 million, but by granting the contract the hotel lobby can make a generous donation the the Commie’s campaign. See how it works?

 

[Marener]

At $330 a night?! Why not put them up at Motel 6 instead?

It’s New York City. Not some hillbilly town in the sticks.

We haven’t even seen the deal anyway, so Id take the reporting with a grain of salt.

 

[Cellblock2429]

It’s New York City. Not some hillbilly town in the sticks.

We haven’t even seen the deal anyway, so Id take the reporting with a grain of salt.

/—-/ That’s true. That’s why it is so stupid.

 

[Lisa558]

It’s New York City. Not some hillbilly town in the sticks.

We haven’t even seen the deal anyway, so Id take the reporting with a grain of salt.

Still doesn’t justify him spending $120,000 a year per homeless person on hotels instead of renovating old buildings and turning them into shelters.

Also doesn’t explain how he’s going to pay for it.

 

[Cellblock2429]

Still doesn’t justify him spending $120,000 a year per homeless person on hotels instead of renovating old buildings and turning them into shelters.

Also doesn’t explain how he’s going to pay for it.

/—-/ He’s raiding the city’s surplus fund.

 

[Marener]

/—-/ The communist mayor closed the men’s shelter because it was run down. It could have been remodeled and expanded for $20 million, but by granting the contract the hotel lobby can make a generous donation the the Connie’s campaign. See how it works?

/—-/ The communist mayor closed the men’s shelter because it was run down. It could have been remodeled and expanded for $20 million, but by granting the contract the hotel lobby can make a generous donation the the Commie’s campaign. See how it works?

Do you have a source for the $20 million price tag or are you just saying shit to sound smart?

 

[Marener]

Still doesn’t justify him spending $120,000 a year per homeless person on hotels instead of renovating old buildings and turning them into shelters.

Also doesn’t explain how he’s going to pay for it.

Not sure where you got the “$120,000” per homeless person, that was in some random tweet and not a part of the article at all. You guys need to be more skeptical of what random people say on social media.

Renovating old buildings takes time. This is a stopgap solution.

 

[struth]

That sounds like the NYC Market is pretty dysfunctional, then.

Yes NyC is pretty dysfunctional

 

[struth]

Why should men leave great fortunes to their children? If this is done from affection, is it not misguided affection? Observation teaches that, generally speaking, it is not well for the children that they should be so burdened. Neither is it well for the state. Beyond providing for the wife and daughters moderate sources of income, and very moderate allowances indeed, if any, for the sons, men may well hesitate, for it is no longer questionable that great sums bequeathed oftener work more for the injury than for the good of the recipients. Wise men will soon conclude that, for the best interests of the members of their families and of the state, such bequests are an improper use of their means.

The Gospel of Wealth | Carnegie Corporation of New York

The Gospel of Wealth by Andrew Carnegie

www.carnegie.org

I appreciate Carnegie’s opinion, what I really appreciate is he was free to come up with it, I want that as well

Folks like yourself don’t want to allow me the freedom to make that choice

Which is very fascist of you

 

[Cellblock2429]

Do you have a source for the $20 million price tag or are you just saying shit to sound smart?

/——/ I’m not a libtard. I don’t make shyt up. I added more to expand it. I also accounted for the typical union contractors waste fraud corruption and abuse.
“The estimated cost to refurbish a New York City homeless shelter can vary widely, but specific projects have exceeded their original budgets significantly, with some projects costing millions more than initially planned. For example, one project originally expected to cost $511,000 ended up exceeding its budget by $2.7 million.”
New York State

 

[Marener]

/——/ I’m not a libtard. I don’t make shyt up. I added more to expand it. I also accounted for the typical union contractors waste fraud corruption and abuse.
“The estimated cost to refurbish a New York City homeless shelter can vary widely, but specific projects have exceeded their original budgets significantly, with some projects costing millions more than initially planned. For example, one project originally expected to cost $511,000 ended up exceeding its budget by $2.7 million.”
New York State

So you just came up with a number on your own?

 

[Woodznutz]

At $330 a night?! Why not put them up at Motel 6 instead?

Put them up in the homes of those who voted for him.

 

[ColonelAngus]

The lefty mental illness is astonishing.

Remember, not that long ago, when Trump warned that acetaminophen can be dangerous for pregnant women to take as it may harm the fetus....PREGNANT WOMEN POSTED VIDEOS OF THEMSELVES TAKING HANDFULS OF ACETAMINOPHEN TO SOCIAL MEDIA.

That is MENTAL ILLNESS.

 

[SweetTea]

Getting rid of capital gains definitely would be a massive benefit to the wealthiest, elites among us. These people already pay vanishingly low taxes, why not make it zero? Shift the burden onto the working class. Horay!

I would benefit from a capital gains reduction. My family is in the "rich" category according to Democrats, but not elite.

The "rich" already bear the vast majority of the tax burden and are exempt from most tax relief programs as most of them have income restrictions.

And it’s not double taxation. The principle was taxed and that’s not subject to capital gains. Only the capital.

Sure, legally, only the gain is taxed. Economically, the investment capital came from income that was already taxed, so taxing the return on that capital amounts to taxing the same economic value twice.

I don’t think it’ll decrease investment. For one, most people are just trying to max out tax advantaged accounts. For two, if you’ve already maxed out those accounts, what else are you going to do with the money?

Because capital gains taxes apply only when gains are realized, higher tax rates encourage investors to shift capital toward assets that defer realization like 1031 real estate exchanges or buy and hold portfolios rather than riskier investments like venture capital.

Capital gain, obviously

You are for estate taxes, removing the stepped up basis and taxing capital gains as regular income? All of this on a group that is already paying most of the taxes in the country.

 

[Winston]

So the Government is more worthy of someone's money than their heirs?

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.

 

[Winston]

I would benefit from a capital gains reduction. My family is in the "rich" category according to Democrats, but not elite.

The "rich" already bear the vast majority of the tax burden and are exempt from most tax relief programs as most of them have income restrictions.



Sure, legally, only the gain is taxed. Economically, the investment capital came from income that was already taxed, so taxing the return on that capital amounts to taxing the same economic value twice.



Because capital gains taxes apply only when gains are realized, higher tax rates encourage investors to shift capital toward assets that defer realization like 1031 real estate exchanges or buy and hold portfolios rather than riskier investments like venture capital.



You are for estate taxes, removing the stepped up basis and taxing capital gains as regular income? All of this on a group that is already paying most of the taxes in the country.

Oh yes, the old double tax bullshit. Dammit, I went to store today to buy a carton of soft drinks. The damn assholes charged me a sales tax and I already paid income tax on the money I was spending. Double taxation.

But the group that pays most of the taxes? Well yeah, because they make most of the income and damn near own about all the resources.

Look, enough already. It takes a fool to lobby to eliminate the estate tax and eliminate the step-up, a total fool. First, we eliminate the step-up, like in 2010, and we eliminate the estate tax. Let's examine a scenario.

First, let's take Joe Sixpack and his wife. Joe, he is a plumber, was raised in a working class neighborhood by working class parents that still live at, what we call, the Home place. Joe's parents, and his wive's, saved diligently and they have built up a nice retirement plan, lets make it the average balance for an 80 year old, $429,614. The median balance is $77,086. Both parents live in their own home, long ago paid for. Let's make the purchase cost $15,000 and let's say they are both worth $250,000 each.

The parents die, leave the home and the assets to Joe and his wife. Under the status quo, they pay nothing in capital gains taxes and the estate is not large enough to qualify for an estate tax. But now, no estate tax, no step-up. Now, if they sell the houses, they will be looking at a $100,000 capital gains tax. Just how smart was Joe lobbying to eliminate the estate tax and eliminate the step-up?

 

[Cellblock2429]

So you just came up with a number on your own?

/----/ No, you retard. Read it agian: " For example, one project originally expected to cost $511,000 ended up exceeding its budget by $2.7 million.”
So $20 million could refurbish almost 6 shelters based on the $2.7 million, not the $2 billion NYC just wasted.
I know, I know, math is hard.

 

[Marener]

I would benefit from a capital gains reduction. My family is in the "rich" category according to Democrats, but not elite.

The "rich" already bear the vast majority of the tax burden and are exempt from most tax relief programs as most of them have income restrictions.

As long as you personally benefit, that's good enough, right?

Doesn't really matter what happens to the country as long as you're doing fine.

Sure, legally, only the gain is taxed. Economically, the investment capital came from income that was already taxed, so taxing the return on that capital amounts to taxing the same economic value twice.

If you want to look at it that way, it's your opinion but I find it to be pretty silly.

Because capital gains taxes apply only when gains are realized, higher tax rates encourage investors to shift capital toward assets that defer realization like 1031 real estate exchanges or buy and hold portfolios rather than riskier investments like venture capital.

These are all still investments.

You are for estate taxes, removing the stepped up basis and taxing capital gains as regular income? All of this on a group that is already paying most of the taxes in the country.

The wealthy keep getting wealthier, so higher tax rates really aren't doing all that much to inhibit their accumulation of wealth.

The ongoing continued concentration of wealth in the hands of fewer people is not going great for the country. It's going to be leading to a new aristocracy. I don't think it's controversial to say that a broad based economy is important for the health of the nation, but we are increasingly splitting along socioeconomic lines.

/----/ No, you retard. Read it agian: " For example, one project originally expected to cost $511,000 ended up exceeding its budget by $2.7 million.”
So $20 million could refurbish almost 6 shelters based on the $2.7 million, not the $2 billion NYC just wasted.
I know, I know, math is hard.

“based on the $2.7 million”, but you don’t even know what the $2.7 million was.

Jesus, you’re just making shit up. You don’t know anything about the building in question, what it would need or how much it would cost.

 

[JoeB131]

And you think moving towards Socialism/Communism will bring back the life we used to have? Wow, talk about confused.

Maybe.
We had it pretty good when we had unionization and high taxes on the rich.

I'm all for going back to that.

 

[Winston]

The ongoing continued concentration of wealth in the hands of fewer people is not going great for the country. It's going to be leading to a new aristocracy. I don't think it's controversial to say that a broad based economy is important for the health of the nation, but we are increasingly splitting along socioeconomic lines.

The problem is the system itself is structured to facilitate that concentration of wealth.