Guest Post by Simon Black
A few months ago, I wrote to you about how New York City wants to tax people who own second homes there.
They call it a pied-a-terre tax, and the geniuses behind it believe that it will help plug the city’s $1 billion budget shortfall.
Bill de Blasio himself, the mayor of New York City, has voiced his enthusiasm in soaking the rich.
Hedge fund manager Ken Griffin became one of the primary victims of this Bolshevik sentiment when he bought a $268 million condo in the city.
It wasn’t enough that Griffin will already pay millions of dollars in property taxes to the city. The pied-a-terre tax would milk him for another $9+ million per year.
(Shockingly, Griffin has recently decided to NOT move his corporate offices from Chicago to New York, as he had previously been considering.)
Continue reading “New York City just went from Dumb to Dumber…”
