Mamdani: Let NYC Eat (Socialist) Cake

[AZrailwhale]

$250k of debt, guess Dylan failed economics. No worries, the democrats got what it takes, to take what others got, to pay for Dylan.

He's still in college FOURTEEN YEARS AFTER GRADUATING FROM HIGH SCHOOL. He's a professional student.

 

[AZrailwhale]

Reagan eliminated a lot of loopholes and deductions when he lowered rates. Tell you what, let's go back to both the high rates and all the deductions. It would be nice to deduct credit card interest.

What happened was what I expected. The tax rates creeped back up. but the exemptions stayed gone forever.

 

[AZrailwhale]

I know xenophobia is all the rage, but you might be surprised. Lots of immigrants come here because of our free markets and aren't sympathetic to socialism. They've actually seen it fail.

Muslims are pro-socialism; it's how Islam works. The immigrants from Eastern Europe and other ex-communist countries know better.

 

[Cougarbear]

Am I the only one who doesn't give one fig if NYC loses its mind and elects Mamdani?

LET THEM. He wants to tax millionaires to pay for "free" childcare, buses and housing? GOOD. Let them figure what revenue is left after millionaires leave the city in droves. They want socialism? LET THEM HAVE IT. No one deserves it more than NYC.

I mean here is the mentality of his supporters: $250K student debt at 32 years old, and he's ready to "give it a shot". Great work, Dillon, you deserve all the socialism that's about to get shoved down your throat.

For Dillon Robertson, 32, money is a constant worry. He commutes to college in Connecticut and will graduate with close to $250,000 in student loans. He's supporting Mamdani and says many of his cost-saving proposals could make his life easier, but at the same time, he worries if it's all possible.

"A lot of the stuff he says sounds nice. But I both wonder, can he do it? Can he pull it off?" he said. "Or [is] it just kind of like a Band-Aid on a leaky ship?"

Still, he admits, if the options are to keep plodding along or try something new, he's ready to give it a shot.

https://www.npr.org/2025/11/02/nx-s1-5531004/zohran-mamdani-new-york-young-voters

 

[AZrailwhale]

I’m not an advocate for high taxes. I’m just making the point that is not factual that higher taxes will make everybody leave like the right has on repeat. There are two philosophies for cause and effect. They should be debated

The high taxes in New York and California have already caused a lot of people with money to move out. This will just accelerate the process since the really rich will leave now, not just the middle and upper middle class. California already taxes the rich fleeing the State:
"
The “California exit tax” is a misnomer for a proposed wealth tax, not yet enacted as of February 2025, that would affect high-net-worth individuals leaving the state. Key points of the proposal include:

• It would target individuals with a net worth exceeding $30 million ($15 million for married taxpayers filing separately).
• The proposed tax rate is 0.4% on net worth above these thresholds.
• If enacted, it could apply for up to 10 years after leaving the state.
• The tax would encompass various assets, including stocks and investments, while California real estate would be taxed separately.
• It aims to close loopholes in capital gains tax regulations.

This proposed tax may also apply to individuals leaving California for international destinations, not just for other US states.

This proposal aims to recoup revenue and prevent capital gains tax avoidance. The federal expatriation tax, detailed on the IRS expatriation page, is a separate consideration that applies to individuals renouncing US citizenship or long-term permanent residency.

Who is subject to the California exit tax?​

While California doesn't have an official "exit tax," the term refers to ongoing tax obligations for those leaving the state with significant financial ties. This primarily affects high-net-worth individuals and long-term residents.

Key criteria for potential tax liability include:

• net worth exceeding $30 million for individuals or $15 million for married individuals filing separately
• significant California-sourced income, including business operations, real estate, or investments
• long-term residency status (typically nine out of the last 10 years)

It's crucial to note that even after leaving, you may still owe California taxes on:

• capital gains from California property sales
• income from California-based sources
• business revenues generated within the state

To minimize potential tax obligations, consider selling California property before departure, severing business ties within the state, updating your legal documents and residency status, and consulting with a tax professional for personalized strategies"
The entire package hasn't passed YET, but much of it has already been enacted by the State Franchise Tax Board.

 

[AZrailwhale]

I suspect there are much more important factors at play. A single middle-class income used to be able to afford a modest house, car, and college for the kids.

View attachment 1181269



Yeah, I think he rolled over losses. It's every CEO's job to minimize tax burden. Indeed, none of us pay more taxes than we are obligated to.

PS: NYC is going to try to fix its problems by going further Left. It's going to be a case study, I bet.

In those days the combined taxes didn't exceed fifty percent of your wages.

 

[Delldude]

Food for thought. The dude has made some huge campaign promises...... keeping them will be fun to watch. And when he fails, nary a word will be said against him.

 

[Slade3200]

You should have included other's to make your point, Musk, Bloomberg, Icahn, Bezos for example......

Sure include them too. I Went with the most well known. Bit again. Who it is has nothing to do with the point I was making which you clearly dont understand

 

[Slade3200]

Except the rich paid less taxes than they do now. No one, not the Rich nor the middle class paid the published rates. Have you ever heard the term "tax shelter"? They were investments designed to LOSE money in a strategic manner to lower the effective tax rates of the people paying into them.

Can you show the exact stats you are using?

 

[Slade3200]

The high taxes in New York and California have already caused a lot of people with money to move out. This will just accelerate the process since the really rich will leave now, not just the middle and upper middle class. California already taxes the rich fleeing the State:
"
The “California exit tax” is a misnomer for a proposed wealth tax, not yet enacted as of February 2025, that would affect high-net-worth individuals leaving the state. Key points of the proposal include:

• It would target individuals with a net worth exceeding $30 million ($15 million for married taxpayers filing separately).
• The proposed tax rate is 0.4% on net worth above these thresholds.
• If enacted, it could apply for up to 10 years after leaving the state.
• The tax would encompass various assets, including stocks and investments, while California real estate would be taxed separately.
• It aims to close loopholes in capital gains tax regulations.

This proposed tax may also apply to individuals leaving California for international destinations, not just for other US states.

This proposal aims to recoup revenue and prevent capital gains tax avoidance. The federal expatriation tax, detailed on the IRS expatriation page, is a separate consideration that applies to individuals renouncing US citizenship or long-term permanent residency.

Who is subject to the California exit tax?​

While California doesn't have an official "exit tax," the term refers to ongoing tax obligations for those leaving the state with significant financial ties. This primarily affects high-net-worth individuals and long-term residents.

Key criteria for potential tax liability include:

• net worth exceeding $30 million for individuals or $15 million for married individuals filing separately
• significant California-sourced income, including business operations, real estate, or investments
• long-term residency status (typically nine out of the last 10 years)

It's crucial to note that even after leaving, you may still owe California taxes on:

• capital gains from California property sales
• income from California-based sources
• business revenues generated within the state

To minimize potential tax obligations, consider selling California property before departure, severing business ties within the state, updating your legal documents and residency status, and consulting with a tax professional for personalized strategies"
The entire package hasn't passed YET, but much of it has already been enacted by the State Franchise Tax Board.

Let’s look at those states GDP over the last few years. How have they done despite this mass exodus?

California GDP New York GDP
2024 $4.05 trillion $2.32 trillion
2022 $3.60 trillion $2.05 trillion
2020 $3.07 trillion $1.78 trillion


Please explain

 

[EvilCat Breath]

He's still in college FOURTEEN YEARS AFTER GRADUATING FROM HIGH SCHOOL. He's a professional student.

My son is still in college and it's been 43 years since he graduated high school.

 

[EvilCat Breath]

The anti-American, anti-Jew, racist Islamist’s slogan should be:

“Vote for me, and I’ll have NYC turned into a massive ghetto in less than a year.”

One day after being elected and he hasn't taken office yet but commie mandami is asking for money.

Zohran Mamdani Blasted For Requesting Donations In First Video After Winning NYC Mayoral Race

“Remember how I told you a few months ago to stop sending us money? You can start again,” he said.

www.bpdaily.com

 

[AZrailwhale]

Can you show the exact stats you are using?

Go back and research it yourself. From my personal experience it was the truth. When I started with the phone company I always filed short form. One year the IRS lost my return and tried to penalize me despite the fact I had the signed return receipt. They failed but insisted I refile. I got angry and went to a CPA. When I did my taxes I was going to get fifty bucks back filing single zero. By the time he was done I got over five hundred back. The deductions that were available were amazing even for a (relatively) low income earner like I was at the time. I was still at base pay plus one step which if I remember was about eight bucks an hour. The upper middle class and rich had far more deductions available to them. It’s no secret the rich had and have the tax laws slanted to benefit themselves. After all that’s the way civilization has always worked since the beginning of time.

 

[Slade3200]

Go back and research it yourself. From my personal experience it was the truth. When I started with the phone company I al

Are you shitting me with that response?! I did research it. I posted links to back up my assertions. If you can’t do the same then you’ve lost the debate.

 

[Slade3200]

When I started with the phone company I always filed short form. One year the IRS lost my return and tried to penalize me despite the fact I had the signed return receipt. They failed but insisted I refile. I got angry and went to a CPA. When I did my taxes I was going to get fifty bucks back filing single zero. By the time he was done I got over five hundred back. The deductions that were available were amazing even for a (relatively) low income earner like I was at the time. I was still at base pay plus one step which if I remember was about eight bucks an hour. The upper middle class and rich had far more deductions available to them. It’s no secret the rich had and have the tax laws slanted to benefit themselves. After all that’s the way civilization has always worked since the beginning of time.

I don’t disagree that the tax laws have dedications and also favor the wealthy. They incentivize them to invest in their workers which is a good thing. They also have carve outs to allow them to dodge large tax burdens. I’m not disputing any of that.

You made a claim though that they paid less % in the 1950s under the 91% top end rate than they do today… and I’d like to see numbers to back that up

 

[excalibur]

 

[AZrailwhale]

I don’t disagree that the tax laws have dedications and also favor the wealthy. They incentivize them to invest in their workers which is a good thing. They also have carve outs to allow them to dodge large tax burdens. I’m not disputing any of that.

You made a claim though that they paid less % in the 1950s under the 91% top end rate than they do today… and I’d like to see numbers to back that up

I’m on a iPad, so I can link, but here are the figures from a progressive newspaper/ website: in the fifties the top 1% paid 35% of all federal taxes less the deductions for state and local taxes, today they pay 40% without the deductions for state and local taxes.

 

[Lockback]

He’s the result of allowing half of NYC to be foreign-born immigrants, including 750,000 Muslims.

If the race were limited to native-born American NYers, Mondami loses.

Wouldn't have had a snowball's chance in Hell.
Nowadays, Communists are being imported by the millions. If it weren't for that and the staggering corruption of New York City's election system, Mamdani would be cleaning toilets at the local library, fantasizing about being Joe Stalin.

 

[Slade3200]

Wouldn't have had a snowball's chance in Hell.
Nowadays, Communists are being imported by the millions. If it weren't for that and the staggering corruption of New York City's election system, Mamdani would be cleaning toilets at the local library, fantasizing about being Joe Stalin.

Doesn’t sound like you understand the definition of communism. Can you post what you think it is?

 

[Lockback]

Doesn’t sound like you understand the definition of communism. Can you post what you think it is?

Don't waste my time with this tired old bullshit.
I know exactly what communism is and Mamdani is a Communist.
I love it when people try to go, "Oh, well, you know socialism isn't communism, you silly goose." Even Marx said it's only the step towards total communism, it's just part of the journey.
So don't BS me.