Wealthy New York City elites are preparing to flee the state because the Republican tax bill is going to make them face the full brunt of Mayor Bill de Blasio and Democratic state leadership’s tax rates.
“Everybody I speak to brings this up. Every NYC resident I speak to asks about the feasibility involved in doing it,” Wall Street tax expert Robert Willens told Yahoo Finance. “I’ve been doing this more than 40 years, and never heard more discussion about relocating than recently.”
Wealthy New Yorkers can currently lower their federal taxable income by more than $100,000 through a provision of the tax code known as the State and Local Tax Deduction, or SALT. The average SALT deduction in the Manhattan area is at least $60,000.
The Republican bill will cap the deduction amount at $10,000, meaning wealthy New Yorkers who currently write off expensive real estate could face an extra six figures in taxable income.
President Donald Trump is expected to sign the bill into law by Christmas, which is why many hedge fund and private equity managers are seriously considering getting out of New York.
New York is a state run by Democrats and one that taxes its citizens at a higher rate than any other state in the nation. The state’s combined state and local income tax burden tops California’s at 12.7 percent. That amounts to roughly $6,993.42 per New York taxpayer.
For the first time, many wealthy Manhattanites will finally feel the full burden that their state legislators and city leadership have put on them.
De Blasio is actually trying to increase millionaire New York City taxpayers’ loads as Republicans put the finishing touches on their bill.
The mayor is trying to levy a 14 percent tax increase on the city’s millionaires to pay for improvements to the city’s subway system. The governor-elect of New Jersey is looking to pull a similar tactic to raise money for public schools in the state.
Hitler’s descendant Wilhelm gets view of cop’s asses. Sad, but he probably likes that…
NEW YORK CITY — Hundreds of NYPD police officers turned
their backs on left-wing Mayor Bill de Blasio when the Democrat
spoke at a police funeral Tuesday — not the first time de Blasio
has had the NYPD turn their backs on him in protest of his anti-
cop actions.
Thousands of mourners gathered in the Bronx to pay tribute to Officer Miosotis Familia, who was assassinated as she sat in her police vehicle last week. De Blasio infuriated officers and New Yorkers alike when he flew out to Germany the next day to attend the G20 protests in Hamburg.
That anger was on display at the mother of three’s funeral, which took place at the World Changers Church in the Bronx. The New York Post reported that officers outside the church turned their backs as de Blasio’s eulogy was broadcast on screens.
Other officers chatted with one another and played with their phones during his eulogy, the Post reported.
However, the Mayor’s office dismissed the snub as a “bogus controversy.”
“A couple dozen people showed up to partake in a bogus controversy ginned up by the media and those looking to politicize Detective Familia’s death. That’s unfortunate,” a spokesman told The Post.
It isn’t the first time de Blasio has been snubbed by the NYPD. Officers turned their backs on de Blasio in 2015 at the funeral of Wenjian Liu, who was one of two officers murdered as they sat in their car.
NYPD representatives, as well as rank-and-file cops, were angered by a long list of what were perceived as anti-cop comments made by de Blasio, including one in which he talked about how he had to “train” his son on what to do if approached by cops, implying cops were racist.
“With Dante, very early on, we said, ‘Look, if a police officer stops you, do everything he tells you to do. Don’t move suddenly. Don’t reach for your cellphone,’” he said in 2014. “Because we knew, sadly, there’s a greater chance it might be misinterpreted if it was a young man of color.”
On Tuesday, NYPD union chief Ed Mullins told the New York Daily News that the bad blood between the mayor and the cops still exists.
“I talked with hundreds of cops today and they have about had it with the mayor and the police commissioner and their policies. They don’t feel that either one of them has their backs. It’s very hypocritical,” he said.
Sick fucker. He needs his balls cut off and a lobotomy.
De Blasio employee arrested for child pornography
A leading young Democrat and de Blasio administration employee has a secret taste for sickening kiddie porn that involves baby girls as young as 6 months old, court papers revealed Friday.
Jacob Schwartz, 29, was busted for allegedly keeping more than 3,000 disgusting images and 89 videos on a laptop after downloading the filth from the internet.
The illegal smut shows “young nude females between the approximate ages of 6 months and 16, engaging in sexual conduct… on an adult male,” court papers say.
Schwartz’s father — labor lawyer and Democratic insider Arthur Schwartz — called his son’s case “a personal tragedy.”
“I understand these are serious charges,” said the elder Schwartz, who watched his son get arraigned in Manhattan Criminal Court on Thursday night.
“He’s already in therapy for this.”
Jacob Schwartz surrendered to NYPD computer-crimes investigators in Manhattan’s 13th Precinct on Thursday morning, sources said.
He’d been under investigation since March 29, when he handed over his laptop and gave cops written permission to search it, court papers say.
Jacob Schwartz is the president of the Manhattan Young Democrats and the downstate region vice president of the New York State Young Democrats.
But his name and photo were scrubbed from both groups’ Web sites after The Post broke the news of his arrest.
A statement from the Manhattan Young Democrats said the organization was “shocked” by the allegations against Schwartz, and added that he was “no longer a member of the board, and an interim president is now in place.”
A photo posted last year on Twitter shows him posing with Robby Mook, then the campaign manager for Hillary Clinton’s disastrous presidential campaign.
Schwartz is employed as a $66,360-a-year computer programmer analyst in the city Department of Design and Construction, where he works on the “Build It Back” Hurricane Sandy recovery and resiliency program.
Schwartz was hired after working there as an intern in fiscal 2015, records show.
De Blasio ignored questions about his arrest following a news conference in The Bronx, but a spokeswoman later said Schwartz “is being terminated immediately, and the agency is cooperating with investigators.”
According to his online biography, Schwartz got involved in politics at a young age, helping his father campaign for Democratic district leader in Greenwich Village.
The elder Schwartz served as New York counsel to Vermont Sen. Bernie Sanders’ failed presidential campaign, and was also the campaign treasurer for law professor and liberal activist Zephyr Teachout when she challenged Gov. Andrew Cuomo for the 2014 Democratic nomination.
Arthur Schwartz also had his own brush with the law in 2015, when he was busted for removing hidden surveillance cameras trained on the front door of a $700-a-month, rent-stabilized apartment occupied by a 93-year-old client battling her landlord.
Prosecutors agreed to drop felony grand larceny charges in exchange for Arthur Schwartz paying $720 in restitution.
Jacob Schwartz attended Lehigh University, where he was a member of the “On Tap” a capella singing group, which later scored a gig on the Celebrity Infinity cruise ship.
The all-male quartet scored high marks on the “Cruise Critic” website, where a member from Denmark wrote in 2013, “we really enjoyed the On Tap boys on our Infinity cruise to Alaska.”
Jacob Schwartz was charged with promoting a sexual performance by a child and possessing a sexual performance by a child under 16, both felonies, and released on $7,500 bail.
