NY property & taxing the rich

Hi,

Not sure really where to post this, so Mods, please move if it's better somewhere else.

Fascintating (long) article about the high-end property market in New York. The world really is badly divided. Anyone who believes in Taxing the Rich should read "PART IV. THE SHADOWY PART" to get an idea just how difficult this could be.

http://nymag.com/news/features/foreigners-hiding-money-new-york-real-estate-2014-6

Firefly.

Firefly said:

Hi,

Not sure really where to post this, so Mods, please move if it's better somewhere else.

Fascintating (long) article about the high-end property market in New York. The world really is badly divided. Anyone who believes in Taxing the Rich should read "PART IV. THE SHADOWY PART" to get an idea just how difficult this could be.

http://nymag.com/news/features/foreigners-hiding-money-new-york-real-estate-2014-6

Firefly.

Click to expand...

The same thing is happening in London. Maybe to a greater extent. In the context of this article we don't have any rich people in Ireland.

Purple said:

The same thing is happening in London. Maybe to a greater extent. In the context of this article we don't have any rich people in Ireland.

Click to expand...

Yeah, London's meant to have gotten crazy alright. Read another article a while back about the number of under-ground extensions being built there and it was a bit mad.

The thing about the super-rich though, I would presume, is that they have experts advising them all the time. A few clicks and the funds are gone somewhere else. The fact that they're so anonymous (in the main) and so few in number make them great targets for the Left...sure who wouldn't want to tax them? Wanting to and being able to are sadly different things.

There's been talk of world-wide wealth taxes and the like. I'd love to see it happen but very difficult to implement. Afterall, the more countries sign up for it the greater the temptation for the remaining countries to resist.