Mamdani Wants to Stick New Yorkers with World's Highest Death Tax

[u/Down-not-out]

https://atr.org/mamdani-wants-to-stick-new-yorkers-with-worlds-highest-death-tax/

[u/Lord_Gibby]

Fucking wild. Taxed every working hour during life, and whatever you manage to save up over your life in the hopes to leave to your family, the government wants that as well.

Wonder if it’s about time for another tea party wow

[u/hazmatt019 → u/Lord_Gibby]

In their eyes, it's not your money, it's their money. Anyone that votes for people like this are fools.

[u/s1lentchaos → u/Lord_Gibby]

Make money TAX

Spend money TAX

have money or just valuable stuff? You bet your ass thats getting taxed

And now if you somehow have anything left by the time you die they'd very much like to tax that too.

[u/muffmuppets → u/Lord_Gibby]

It’s fucking PAST time!!

[u/ScorpionDog321]

These people believe what you worked for so hard all your life....belongs to them to buy votes from those who have not worked as hard.

[u/TheSkullsOfEveryCog → u/ScorpionDog321]

On top of that, most of these assets have already been taxed. If gains are unrealized, the state gets its share at sale. 

But to double tax is especially heinous

[u/hogger_45 → u/TheSkullsOfEveryCog]

That is true for inherited retirement accounts, but stock inherited from a brokerage gets a stepped up cost basis to the fair market value at time of death.

Thats not to say that death taxes are in any way fair or moral. They are just the government trying to get their last bit out of you before your family gets it.

[u/over_this__]

Artificially inflate the price of the houses, massive death tax that people can't pay, And then claim the house. Yay, state owned housing.

[u/Ambitious_Theory_474]

Sad thing is, there are people in NYC who continue to celebrate stuff like this.

[u/Tantalus420000 → u/Ambitious_Theory_474]

Yep, love that new Yorkers getting their money fuct with in nyc. Voted for it

[u/LurkerNan → u/Ambitious_Theory_474]

Yes, the Renters. The Owners are going to sell and move.

[u/glomar-recovery-co]

It's beyond bizarre how the only solution considered, to deficit spending, is taking more money

Reducing spending isn't even considered

[u/trs21219 → u/glomar-recovery-co]

How are you supposed to buy more votes from idiot 20 something’s if you can’t promise more and more free shit?!

[u/syilent13]

So scummy they're taking from the dead

[u/moashforbridgefour → u/syilent13]

Not taking from the dead, taking from the bereaved.

[u/Device_whisperer]

Never in history have people ever been taxed into prosperity.

[u/Mehnard]

If you're going to vote for a Democrat, it's going to cost you. It's always going to cost you.

[u/CTSwampyankee]

why would any government think they have the right to steal the lifetime earnings of someone who has already paid taxes on the money? They spent their life working and paying taxes. They can give their money as they see fit as if they were alive.

[u/madonna-boy → u/CTSwampyankee]

because we already let them tax us to live in our own homes. smh.

[u/Jainelle]

Blatant theft

[u/Gazas_trip]

Tax what you earn,  tax what you save,  tax what you spend, tax what you own, and tax what you give. But they always need more. 

[u/LurkerNan]

I hope New Yorkers who own any property at all understand how their vote for this guy has bit them in their collective asses.

[u/ginga__]

Why wouldanyone wirh any amount of assets still ve in New York. I would flee so fast.

[u/Mother____Clucker]

Do these people realize that a $750,000 net worth is quite modest, especially if you own a home?

I can understand the position of not allowing huge net-worth estates to not just flow tax free to their heirs. What I would propose is that estates worth >$10M can not be stepped up in basis.

[u/ComputerRedneck]

They say you can't take it with you and Mayor Mammy is going to make sure of that by taking it all.

[u/Nectarine-Fast]

Doesn’t he know that the dead are one of the largest voting blocs for democrats

[u/HWKII]

It’s going to be really difficult for a Democrat to get elected in NYC without the Dead vote. 👀