Back in April this year New York Mayor Mayor Zohran Mamdani announced the city's first ever pied-a-terre tax, which is an annual fee on luxury apartments worth more than $5 million and whose owners don't live full time there.
He made the announcement in front of 220 Central Park South and singled out the 24,000 square foot penthouse belonging to Ken Griffin, purchased for $238 million in 2019, and now that the city’s legislature has passed the tiered rates bill into law Griffen’s tax nill on his apartment is set to more than double.
Needless to say Mr Griffin, a hedge fund manager and investor reported to be worth over $US 51 Billion , is not happy but Mamdani is doubling down on a tax that will raise about $US500 million to spend on social services.
As time permits over the coming weeks I’m going to look in to some of the proposals to tax the rich in our own country, but for the moment take a look at Mandami’s launch video.
Whatever you think of his proposal, this man knows how to punch through his focused message about fairness. While is style addresses a brasher culture than ours I think some of our politicians on the left could learn a lot by studying the snappy on -target messaging he uses.
I am an independent public documentary maker, podcaster and writer. I try to speak truth to power and give a voice ro those who have none.
I don’t have a sponsor. I don’t allow advertising on my site. What I rely on to pay my bills is the generosity of my paid subscribers.
Please consider becoming one.
By chipping $2.50 a week ( $10 a month) you will not only gain access to my writing, documentaries and podcasts, you will be able to comment on posts, and be connected to a community of concerned and intelligent New Zealanders
And to those of you who are already supporting my work - thank you !
PS. Please restack and share posts you consider useful as it all helps to build readership.
No posts
Comments
Nothing yet. Say the first thing.
Sign in to join the conversation.