“New York City is an ideal cash cocoon. Their money lives here so they don’t have to.”
While brokerages are expanding their footprint overseas to lure foreign buyers to Manhattan and vice versa, there are, of course, some stumbling blocks. One is New York taxes. “Taxes are a major problem,” Mr. Cox of Urban Compass said. “We help buyers structure limited liability companies to avoid, or minimize, some taxes, but it is often a challenge to explain all the different taxes they are charged.”
NEW YORK — The co-founder of one the nation’s oldest venture capital firms fears a possible genocide against the wealthy. Residents of Manhattan’s tony Upper East Side say the progressive mayor didn’t plow their streets as a form of frosty revenge. And the co-founder of Home Depot recently warned the Pope to pipe down about…
Nevermind that the use of the term genocide takes a big giant shit on the souls of Jews, Congolese, Indigenous people, Palestinians, Armenians, Cambodians, Japanese, and all the countless other millions who died in ACTUAL genocides funded by the likes of the megarich and their corporations. Put that deeply offensive equation aside for one second….
What is to the point here for me is that these megarich people who are afraid of a modern Reign of Terror are blinded by a stunning narcissism. Its like “no - we don’t want to mass murder you, that’s a tactic your dogs of war use on your behalf. We don’t want what you have. We don’t want to be what you have become. Your unchecked ambition has alienated you from your humanity and as a result you cannot understand our anger, our criticisms - you cannot understand what we want. We don’t want to replace your seat in the system. We want to obliterate the system and bring your ass back down to earth to sit here with the rest of us. That is not mass murder. That is not "genocide”. That is what is called humility brought to you by way of a rude awakening.“
All of this follows the rise of the Occupy movement in 2011 and a bout of bank-bashing populism in the tea party.
The collective result, according to one member of the 1 percent, is a fear that the rich are in deep, deep trouble. Maybe not today but soon.