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    wherearemypants2Hamilton Nolan
    10/15/14 12:39pm

    While I'm on board with taxing them, I don't buy the idea that there is a causal link between an exceeding small number of ultra-high-value apartments and the normal person's housing affairs. We aren't in the same market they are; it's segmented. They no more affect the rest of us than the existence of a few Maseratis affects the economy auto market.

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      Hamilton Nolanwherearemypants2
      10/15/14 12:45pm

      Taxes can be used to direct private investment towards various parts of the market. A tax like this would make super high end development less attractive to developers.

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      JonezBeechywherearemypants2
      10/15/14 12:47pm

      If they can put $800 million into the economy, how does that not affect everyone else?

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    Max ReadHamilton Nolan
    10/15/14 1:36pm

    For what it's worth I told Hamilton that the right plural is pieds-a-terre and he told me that I had "failed" a "litmus test."

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      hilikusopusMax Read
      10/15/14 1:48pm

      For what it's worth, all of Hamilton's litmi tests are designed for failure.

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      FrannieMax Read
      10/15/14 2:11pm

      195 comments and you are the only one who pointed out the misspelling of the plural of pieds-a-terre. WHAT IS WRONG WITH PEOPLE? There's a grammatical error and it's in the title and nobody cares!

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    hilikusopusHamilton Nolan
    10/15/14 12:39pm

    $665 million could be used to fund several NYPD settlements annually!

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      Canukskihilikusopus
      10/15/14 12:48pm

      Or, the NYPD could afford that thermonuclear weapon they've been longing to get.

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      jeanneeehilikusopus
      10/15/14 1:04pm

      That was my exact thought! Based on the latest figures on NYPD settlement payouts (almost $500 million in the past 5 years!!!!!!!!), this could pay for, like, 6 more years' worth! (Assuming that the NYPD keeps brutalizing and otherwise infringing on the rights of the people it's supposed to be serving and protecting. Which I think is probably a safe bet.)

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    thesunscomingupHamilton Nolan
    10/15/14 12:53pm

    I really don't understand these specific, bespoke taxes. They are the reason that paying your taxes can cost so much money and what use are they really? If you want to tax rich people more, just raise their taxes. Don't create some false distinction between $50 million homes where people live and $25 million homes where people stay a few weeks a year. The social engineering by government through taxation has gotten out of control. These fuckwits are just creating a drain on the economy as (possibly somewhat) useful people waste their talents figuring out/gaming the tax code.

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      Hamilton Nolanthesunscomingup
      10/15/14 1:01pm

      I'd be happy to scrap all the "bespoke taxes" in the world and replace it with a very high progressive income tax.

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      thesunscomingupHamilton Nolan
      10/15/14 1:19pm

      If you simplify the tax code and get rid of all these absurd* credits and deductions you wouldn't even have to raise tax brackets to create a more progressive tax code.

      *A credit is absurd unless it is the earned income tax credit, a deduction is absurd unless it is a verifiable, monetary charity contribution with a reasonable cap. Credits and deductions for children/dependents are ok too, but they should be very simple.

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    Justice Rains From My ButtHamilton Nolan
    10/15/14 12:37pm

    the best part of this is if they don't like the tax, they'll sell their apartment get the fuck out of the city full time. Stay at the goddamn Ritz like all the lowly millionaires.

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      wowthatcameupquickJustice Rains From My Butt
      10/15/14 1:10pm

      no, they'll find a loophole and establish residency through one of their children/grandchildren.

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    MrSchmitzkyHamilton Nolan
    10/15/14 12:41pm

    Does nobody at Gawker actually pay taxes? Why is it that Gawker always prints these ridiculous tax the rich articles. Is it cause you guys take in like $15K a year? Do you understand how taxes function as a part of society?

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      dothedewMrSchmitzky
      10/15/14 12:52pm

      Apparently you do not. These rich folks pay almost no taxes on their $100 million palaces in the sky, while causing all sorts of problems for people who do live and work here full time. It is a perfectly acceptable use of tax policy to try to influence behavior, and the non-resident property owners, who cannot vote in NY, should have fuck all to say about it.

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      MrSchmitzkydothedew
      10/15/14 1:03pm

      So they don't pay property taxes on their properties? Or transfer taxes when they buy them? Oh wait they do just like everyone else? Alright cool.

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    LarryMcGarnagleHamilton Nolan
    10/15/14 12:34pm

    hell i say tax every1 to death if ebola dont get them first -taxes shuould be higher much higher if for nothing else then to fight this damn ebola

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      putinontheblitzLarryMcGarnagle
      10/15/14 12:38pm

      How are you always out of the gray? What blackmail do you have on Nick Denton, Mr. McGarnagle?

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      김치전!putinontheblitz
      10/15/14 12:41pm

      Because he's basically the Bertolt Brecht of the commentariat.

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    RussianistHamilton Nolan
    10/15/14 12:58pm

    You're too generous in calling them all pied-a-terres, which would imply that the owners' actual human feet are rested on their marble floors. In many cases they're effectively big old safe deposit boxes used to shelter assets of frequently dubious provenance from regimes of frequently dubious legitimacy.

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      dontcallmemimiHamilton Nolan
      10/15/14 12:38pm

      If the money raised would actually be used to build and maintain subsidized housing in the city, I'm all for this. If it goes into the general city slush fund where it definitely won't be spent on housing the indigent or improving subsidized housing, then fuck no. That's what regular property taxes are for.

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        CharlieTheDogdontcallmemimi
        10/15/14 9:42pm

        You really believe that?

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        dontcallmemimiCharlieTheDog
        10/15/14 11:11pm

        which part?

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      darkrothkoHamilton Nolan
      10/15/14 12:47pm

      That some/many of these buildings have low-income housing abatements (bought in a completely corrupt, fucked system, thanks to the state government) is even more galling. This gulling is galling! and must be stopped.

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