Thursday, May 19, 2011
Tax breaks for developers and the rich
From Fox 5:
You could call it tax breaks for the rich. Certainly the some of the rich and famous are savvy enough to reduce their tax bills substantially, right here in New York.
Daniel Radcliffe of Harry Potter fame did it. Kelsey Grammer does it. Alex Rodriguez does it. So does the head of Goldman Sachs. And so does Donald Trump.
Fox 5's Barbara Nevins Taylor explains how these rich developers and homeowners are getting a perfectly legal tax break on the homes they own in New York.
Posted by Queens Crapper at 12:12 AM
Labels: 421a, affordable housing, developers, taxes, wealth
The city is at full building capacity so there is no no more need to have any tax breaks to stimulate building.
We should have higher taxes for new buildings for 25 years due to the infrastructure strain that they cause in an area.
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