{"id":178097,"date":"2019-03-08T20:36:00","date_gmt":"2019-03-09T01:36:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2019\/03\/08\/from-the-department-of-about-fing-time-6\/"},"modified":"2019-03-08T20:36:00","modified_gmt":"2019-03-09T01:36:00","slug":"from-the-department-of-about-fing-time-6","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2019\/03\/08\/from-the-department-of-about-fing-time-6\/","title":{"rendered":"From the Department of “About F%$#ing Time”"},"content":{"rendered":"
New York City is considering a tax on people using New York real estate to launder money<\/a>.<\/div>\n

They aren’t calling it that, of course, they are calling it a “Tax on non-resident owners,” but basically, it’s money laundering: (The London property market even more so)<\/p>\n

Pressure to find revenue to finance a $40 billion fix for New York\u2019s subways, buses and regional commuter rail has sparked renewed city and state interest in a tax on wealthy non-residents who own luxury city apartments.<\/p>\n

New York Governor Andrew Cuomo\u2019s budget director, Robert Mujica, jump-started the idea Wednesday in a statement that totaled up potential revenue sources for regional transit funding: $15 billion from congestion pricing, $5 billion from Internet sales, and $2 billion from yet-to-be-legalized cannabis. The so-called \u201cpied-\u00e0-terre tax\u201d on non-resident owners could raise as much as $9 billion, Mujica said.<\/p>\n

\u2026\u2026\u2026<\/p>\n

Mayor Bill de Blasio has preferred a millionaires\u2019 income tax on city residents. Since that proposal hasn\u2019t received support in the legislature, the mayor said Thursday he could back the luxury-apartment tax.<\/p>\n

\u2026\u2026\u2026<\/p>\n

The proposal has been opposed by the Real Estate Board of New York, the trade group for an industry that accounts for more than 30 percent of the city\u2019s tax revenue. The board has said it would harm the city\u2019s economy by suppressing investment, cutting jobs and lowering demand for high-priced apartment towers.<\/span><\/p><\/blockquote>\n

 Mandy Rice-Davies applies to the statement by the Real Estate Board of New York, “Well, they would say that, wouldn’t they?”<\/p>\n

If there is a sure fire way to destroy your community, it is pandering to realtors, developers, and bankers.<\/p>\n","protected":false},"excerpt":{"rendered":"

New York City is considering a tax on people using New York real estate to launder money. They aren’t calling it that, of course, they are calling it a “Tax on non-resident owners,” but basically, it’s money laundering: (The London property market even more so) Pressure to find revenue to finance a $40 billion fix …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[446,393,480,471],"class_list":["post-178097","post","type-post","status-publish","format-standard","hentry","tag-budget","tag-real-estate","tag-taxes","tag-transportation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/178097"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=178097"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/178097\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=178097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=178097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=178097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}