There is a short stretch of prime waterfront real estate in Miami that has come to be known as Billionaire’s Beach. It contains a mix of famous old art deco hotels such as the Delano and Raleigh, both undergoing extensive upmarket refurbishments, and the construction of exclusive new residential tower blocks with high-end apartments running into the tens of millions.
It is here on the sun-filled shores of South Beach, more than a thousand miles from the chills of a Manhattan winter, where realtors and developers are beginning to see the first shoots of what they call the “Mamdani effect”: the predicted exodus of wealthy New Yorkers in the wake of democratic socialist Zohran Mamdani’s election as mayor.
It's a vicious 'Catch-22' cycle. Poor people vote for the guy that says he's gonna give 'em all kindsa 'free' shit paid for by taxing rich folks. The rich folks beat feet 'cause they know they're gonna get slammed, so the guy who promised all the free shit can't deliver, and the poor folks are fucked once again.
And now they're stuck with some asshole who doesn't know his asshole from a sewer hole, and the city goes down the shitter. Again.
As the french say 'C'est dommage'. Look it up...
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Re Miami real estate: Every person has a financial breaking point. A lot of very wealthy people left before Mamdani could break them. Those who stayed will now have their taxes increased, pushing them to their financial breaking point. So they'll move along, leaving fewer taxpayers to pay the rapidly increasing tax burden. The cycle just keeps repeating itself until there is no one left to pay the rapidly increasing taxes. About all that's left is free-shitters and parasites who vote for a living. Good luck NYC. Oh, and you government employees counting on a lucrative government retirement? You voted for this. If none of this makes sense to you, visit Portland.
ReplyDeleteRef 'taxing the rich': Gov. Cuomo was- is- a first class asshole, but not stupid. Once heard a speech of his where someone was pushing that idea again and he laid out "I'm proud of our progressive tax system, but when you start saying just raise taxes on the rich, they're also the people best able to pick up and move if you tax them too much."
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