Why Billionaires Don’t Pay Property Taxes in New York
11th May 2015
Well, New York is run by Democrats, and billionaires tend to be Democrats, so that would appear to be the sweet spot for them.
Steamy eight- or nine-figure sales were always the dream of former Mayor Michael Bloomberg. “If we can find a bunch of billionaires around the world to move here, that would be a godsend,” then-Mayor Bloomberg told The New York Times back in 2013. “Because that’s where the revenue comes to take care of everybody else.”
Bloomberg was a rich Democrat before he was a RINO (which move was made so that he would have less competition for the Mayor’s office). Most rationales for giving rich people tax breaks are based on ‘we want them here rather than there so that their spending will boost our economy’ — which, when Reagan said it, was derided as ‘trickle-down economics’ — but apparently when Democrats say that it’s okay.