Posted on 04/16/2014 9:41:24 AM PDT by Hoodat
Mayor Bill de Blasio is the first New York City mayor to release his tax returns in 12 years, according to the WSJ. de Blasio earned $165,000 as public advocate last year and brought in an additional $52,000 in rent on a second home he owns in Park Slope, according to his 2013 tax returns. Mr. de Blasio’s effective tax rate was 8.3%.
As WSJ reports, Mr. de Blasio’s predecessor, Michael Bloomberg, a billionaire who served as mayor from 2002 through 2013, released highly redacted copies of his return that gave scant information about his net worth.
In 2001, during Mr. Bloomberg’s first campaign for mayor, he lost his temper on the steps of City Hall when pressed by a reporter about why he was refusing to release his returns when his opponents had released their IRS filings.
“That’s fine,” Mr. Bloomberg snapped. “They don’t make anything.”
New York City Mayor Bill de Blasio and first lady Chirlane McCray reported $165,047 in total income last year, according to a copy of their joint tax return released on Tuesday.
...
Mr. de Blasio’s effective tax rate was 8.3%.
...
The federal and state filings, released by his aides on Tuesday afternoon, show de Blasio and his wife, Chirlane McCray, reported receiving $52,000 in rent last year on the property where his mother lived before her death.
Despite their earnings, they reported taking a $6,493 loss on the home, because they paid $28,758 in mortgage and said the home depreciated by $21,547, according to tax code. . . .
(Excerpt) Read more at zerohedge.com ...
Which the MSM will NEVER release....
Typical commie.
Why don’t they ever preach what they practice?
If they did that, they wouldn't be Democrats.
What??? You mean the Commie who’s always crying about unfairness isn’t sharing the wealth with the Poor? What a loud-mouthed hypocrite.
He's actually doing a stupid thing...his effective tax rate is 8.3%..means that at the lowest federal bracket, the $21k depreciation saves him about $3k in taxes...
However, now, because it's in service..when they sell it..it's not capital gains..it's ordinary income..one big chunk of it...
Not good..
How does a home in the affluent neighborhood of Park Slope depreciate by $21K in one year?
“Mr. de Blasio’s effective tax rate was 8.3%.”
In Commie Land, some are more “equal” than others, even if they are “1 percenters.”
He doesn’t live there, he rents it out. Here are some interesting facts about Park Slope.
http://www.city-data.com/neighborhood/Park-Slope-Brooklyn-NY.html
If he did it legally, I’m all for it. I only want it for myself too and all others.
Nah. They're taking advantage of people's ignorance about the difference between wealth and income.
We tax income from labor in this country. We don't tax wealth to the same extent.
When Dem's cry "tax the rich", they actually mean "tax well-paid labor" -- that usually means well-paid skilled labor, sole proprietors, and small service-oriented small businesses.
And the stupid public fall for it every time.
If Republicans and conservatives were smart, they'd give Democrats what they want and actually tax wealth. That would kill the Democratic party.
Let you or I claim “home depreciation” or a home loss and we’d be in jail. 8.3% these $cu#B@gs know all the angles and yet push the envelope that the rest of us slobs pay and pay.
So, is the IRS going to go after him???
We earned about the same and paid a 15% rate!!!!
4300/mo rental on a home?
Major gouging by a money grubbing landlord. Why doesn’t he let the people live there rent free?
He wants the rest of us to pay his voters rent. Wy not him?
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