"The pied-à-terre tax is seen by New York’s wealthiest 1 percent as a question of fairness" - James Parrott, the chief economist at the Fiscal Policy Institute — NYT
New data from the Census Bureau’s 2012 American Community Survey, confirms the high vacancy rate in certain "billionaire buildings" and neighborhoods of Manhattan. Some are making the case that an additional tax should be levied for these pieds-à-terres.
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Two plausible scenarios in which the current situation in NYC could've developed: 1. Administrators weren't educated as to what the outcomes of their land use decisions would be, resulting in a situation where no one was really in charge, and developers were running things. Or B: Developers were running things... Either way, I have no pity for the super wealthy property owners of NYC as they continue to raze more affordable housing in order erect golden phalluses with which they can swing at their equal, but less extravagant, neighbors that only live there on Ash Wednesday...
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