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Ad guru reveals why he sold Hamptons estate: Iím paying unfair price for working hard
NY Post ^ | December 23, 2012 | JERRY DELLA FEMINA

Posted on 12/23/2012 1:33:58 PM PST by lowbridge

I’m happy to pay my fair share — which is whatever the tax is right now.

The thing about capital gains is, I made the investment. I put in the original money. The house cost $3 million and then I put in an additional $6 million because the house was in terrible shape. We added rooms, sections, areas, and basically it was my investment.

When I bought that house I think Obama was in high school, and I certainly have paid taxes ever since.

-snip

Now I’m being told the right thing is to do more. And because I can afford it, I have to pay more.

At this stage of my life, I want to have money to leave to my five kids and seven grandkids. Why would I want to give that additional 8 percent from capital gains to Obama instead?

God knows how that money would be spent.

I made the investment while Obama might have been in high school or smoking dope in college or whatever he was doing. He didn’t make the investment; I did. He didn’t take the risk; I did. He didn’t improve the house; I did. And then in the end, he’s saying I must pay him more.

I always was happy to pay my fair share of taxes. I’m careful to pay every single penny on my taxes. I don’t have any money offshore. But the fact is that at this stage the general feeling in the country is, “You have it, give it to us.”

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: classwarfare; hamptons; taxes
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Advertising guru blames Obama's 'class warfare' for Hamptons mansion sale

http://www.freerepublic.com/focus/f-news/2971373/posts

1 posted on 12/23/2012 1:34:11 PM PST by lowbridge
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To: lowbridge

Oh, you betcha! I live at about 1/1000th of this guys income/lifestyle and I’m battening down the hatches BIG TIME.

You don’t have to be rich to be SMART! :)


2 posted on 12/23/2012 1:48:18 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: lowbridge

“Spread the wealth around.”
Did it ever occur to obozo to spread a traditional work ethic around?


3 posted on 12/23/2012 1:48:38 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: Farmer Dean

No. And it never will. He wants to take US down. Period.


4 posted on 12/23/2012 1:51:07 PM PST by onedoug
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To: lowbridge

IF this guy is a lib and has voted democrat, he’s got no sympathy from me.


5 posted on 12/23/2012 1:52:23 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: lowbridge

Is there a vengeful and punitive tax audit in Jerry’s future? The magic Eight Ball sez “You can count on it.”


6 posted on 12/23/2012 1:57:15 PM PST by PowderMonkey (WILL WORK FOR AMMO)
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To: onedoug

Exactly.
His supporters have never worked like we work either.
Pretty much useless parasites.


7 posted on 12/23/2012 2:03:41 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: PowderMonkey

The guy paid 3 million for a house in bad shape?

OK.


8 posted on 12/23/2012 2:04:58 PM PST by sakic
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To: Secret Agent Man

http://www.nypost.com/p/news/opinion/opedcolumnists/time_for_democrats_for_romney_AUZ6cjhzmQwugmwm4pEt6J


9 posted on 12/23/2012 2:05:16 PM PST by italianquaker
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To: Gamecock; Larry Lucido

I like to visit the Costanza Estate in the Hamptons.

Has two solarium rooms.


10 posted on 12/23/2012 2:05:34 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: lowbridge
At this stage of my life, I want to have money to leave to my five kids and seven grandkids.

Why? What did they do to earn it--just by being born like the nobility?

11 posted on 12/23/2012 2:12:15 PM PST by Age of Reason
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To: Secret Agent Man

This guy is spoiled whinny multimillionaire. Obama senior year of High School 1979 the top bracket was 70%. And in the 1950’s it was around 90%. The “Ad Man” has paid higher taxes in the past but he seems to have forgot. Look at the chart below, its a eye opener.

http://www.ntu.org/tax-basics/history-of-federal-individual-1.html


12 posted on 12/23/2012 2:12:46 PM PST by Orange1998 (DO NOT PRESS CTRL W)
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To: Farmer Dean

Yup. I actually witnessed some scumbag buy an 18 pack of beer with an EBT. Hope he drowns in it.


13 posted on 12/23/2012 2:13:48 PM PST by max americana (Make the world a better place by punching a liberal in the face)
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The proper response to President Bill Ayers (and any other liberal) is, before we talk about what I’m going to give up, what are YOU going to give up?

Liberals only take, they never give.

Let’s force them to give up some things and see how they like it.


14 posted on 12/23/2012 2:19:05 PM PST by IncPen (Educating Barack Obama has been the most expensive project in human history)
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To: sakic

because its the “Hamptons”

blah

I’d rather live like a king in the middle of nowhere than some overexpensive place where the “rich and famous” hang out.

I saw a huge place in Weatherford, TX on 9.9 acres for $400,000 the other day. The barn was bigger and better than my house. lol


15 posted on 12/23/2012 2:21:06 PM PST by GeronL (http://asspos.blogspot.com)
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To: sakic

because its the “Hamptons”

blah

I’d rather live like a king in the middle of nowhere than some overexpensive place where the “rich and famous” hang out.

I saw a huge place in Weatherford, TX on 9.9 acres for $400,000 the other day. The barn was bigger and better than my house. lol


16 posted on 12/23/2012 2:21:22 PM PST by GeronL (http://asspos.blogspot.com)
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To: Secret Agent Man

I’m pretty sure that Jerry Della Femina is no lib and never has been. I agree with him 100%.


17 posted on 12/23/2012 2:22:41 PM PST by surrey
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To: Orange1998

so what Orange...maybe you’re too wet behind the ears to know what the tax code allowed in deductions in those days... you can look that up if you care to have an argument that is truthful....fewer than 250 taxpayers ever paid the top rate.
The crooks in DC put in the AMT to make million dollar incomes pay something, and now hundreds of thousands of taxpayers get stuck with the calculation even with the fix...think that was an accident. It’s a crime to pay more than 25% on any income unless you like slavery. Tax the 48% that pay nothing in fed taxes so they have some skin in the game...otherwise they vote all day to raise the taxes on the successful and the folks that HIRE people and write their name on the front of the paycheck. Take your progressive tax crap and stuff it...America succeeds when people decide what to do with the fruits of real labor, not the crooked FedGov...

YMMV


18 posted on 12/23/2012 2:32:53 PM PST by ElectionInspector (Molon Labe...)
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To: Age of Reason

Author said: “At this stage of my life, I want to have money to leave to my five kids and seven grandkids.”

Reason said:”Why? What did they do to earn it—just by being born like the nobility?”

Sadly, you appear to have bought into class-warfare. Our Heavenly Father gives of gifts of grace and mercy, and I, too, would like to gift my children and friends with the treasured items I have collected over a lifetime of hard work. It pleasures me to share what I have, money or possessions, with those who have so generously given to me of their time and affection.


19 posted on 12/23/2012 2:33:03 PM PST by July4 (Remember the price paid for your freedom.)
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To: Age of Reason

Should he leave the money HE EARNED to the government instead so they can piss it away?


20 posted on 12/23/2012 2:33:38 PM PST by surrey
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To: Secret Agent Man; surrey

According to the newsmeat website, over the past couple of decades, hes donated money to Democrats only.


21 posted on 12/23/2012 2:36:15 PM PST by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: Age of Reason

It’s his money, he earned it — it should be up to him to decide whether his progeny are worthy of receiving any or all of it. Perhaps his main motivation, for earning the money in the first place, was to be able to leave something for his offspring.


22 posted on 12/23/2012 2:39:00 PM PST by USFRIENDINVICTORIA
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To: max americana
And if you call him on it, he'll probably go Trayvon on you.

-PJ

23 posted on 12/23/2012 2:47:18 PM PST by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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To: lowbridge

“I don’t have any money offshore.”

I was going to say this was his first mistake, but then I realized that giving money to democrats was his first mistake.


24 posted on 12/23/2012 2:50:07 PM PST by july4thfreedomfoundation (November 6, 2012.....A day that will live in infamy!)
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To: lowbridge
The point is if Obama can frisk this guy and take his cash, Obama can do it to any of us.

I am surely not a millionaire but what I work like a dog for and pay taxes on, I sure as hell don't want Obama coming back around for even more hand-outs.

In 1978, we got paid $15.00 and hour. That year we paid an extra $400 in taxes. Then, Carter got another tax hike passed through Congress and guess what? We got a letter in the mail that said we owed ANOTHER $400 which we had to take OUT OF OUR SAVINGS to pay. That money would've been better staying in our bank account than getting wasted by the feds.

$400 was ALOT of money back then. We have had it relatively good over the last few years with the Bush tax cuts.

The frustration this guy feels is a harbinger of things to come for all of us.

25 posted on 12/23/2012 2:50:48 PM PST by Slyfox (The key to Marxism is medicine - V. Lenin)
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To: Political Junkie Too

No worries. I have some skittles..


26 posted on 12/23/2012 2:54:03 PM PST by max americana (Make the world a better place by punching a liberal in the face)
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To: Age of Reason

From his bio.

He ran a restaurant, Della Femina, in East Hampton, until he sold it in early 2011, because, “I’m just not ready to have my wealth redistributed. I’m not ready to pay more tax money than the next guy because I provide jobs and because I work a 60-hour week and I earn more than $250,000 a year. So why am I dropping out? Read a brilliant book by Ayn Rand called Atlas Shrugged, and you’ll know.”

http://en.wikipedia.org/wiki/Jerry_Della_Femina


27 posted on 12/23/2012 2:54:09 PM PST by fudimo
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To: Age of Reason
Why? What did they do to earn it--just by being born like the nobility?

You've been on this site for a long time. I can't believe your comment. Its his money. If he wants to declare his heirs nobility what fricking business of yours is that?

28 posted on 12/23/2012 2:57:01 PM PST by Starstruck (Washinton is presently building a diving board on the fiscal cliff)
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To: Diana in Wisconsin
Oh, you betcha! I live at about 1/1000th of this guys income/lifestyle and I’m battening down the hatches BIG TIME.

I'm planning on having $-0- income for the next two years. I'm also planning on spending $-0- except for food and fuel.

These leftists can enjoy their games without me (if I can figure out a way around the "exit" taxes).

29 posted on 12/23/2012 3:03:08 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: Orange1998
Any taxes paid by anybody is too much.

If you or I did what the governments are doing, it would be called armed robbery.

30 posted on 12/23/2012 3:10:30 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: IncPen
Liberals only take, they never give. Let’s force them to give up some things and see how they like it.

Other than our cities, libraries, universities, public schools, arts, theater, artisans, media, corporations, ports, healthcare, financial industries, unions, auto industries, federal jobs and now the military brass, what do they possibly have that we would want?


Do I really need the sarcasm tag?

31 posted on 12/23/2012 3:18:31 PM PST by Albion Wilde (The only way to stop a man with a gun is with a gun. --Daniel Greenfield)
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To: Age of Reason; July4
"At this stage of my life, I want to have money to leave to my five kids and seven grandkids."
Why? What did they do to earn it--just by being born like the nobility?

Jerry della Femina was a hardscrabble Italian kid from Brooklyn when he started in business, and I doubt if his five kids ever felt like nobility when he was working his way up. He truly is a self-made man with an inspiring work ethic, and he personifies what used to be known as the American Dream. Try googling before sneering.

32 posted on 12/23/2012 3:24:27 PM PST by Albion Wilde (The only way to stop a man with a gun is with a gun. --Daniel Greenfield)
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To: Age of Reason
Why? What did they do to earn it--just by being born like the nobility?

You would prefer it go to the government? What the hell would that accomplish?

I was in the ad biz. I know Jerry; I competed with him. He started at the bottom, did some great work, took some big chances...and built a successful business. He earned every penny he ever made; nobody gave him squat.

If he wants to reward his children and grandchildren with the fruits of his labor, that's his business. Not mine, not yours.

If you make a fortune, you can do whatever the hell you want with it. Even give it to the government -- instead of your kids or grandkids. That's your business.

33 posted on 12/23/2012 3:48:17 PM PST by okie01
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Comment #34 Removed by Moderator

Comment #35 Removed by Moderator

To: GeronL

25 Best Places to Retire
Weatherford, Texas

http://money.cnn.com/galleries/2011/real_estate/1109/gallery.best_places_retire.moneymag/5.html


36 posted on 12/23/2012 4:24:02 PM PST by Orange1998 (DO NOT PRESS CTRL W)
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To: lowbridge
God knows how that money would be spent.

Come to Washington DC. God has no idea how the money would be spent.

37 posted on 12/23/2012 4:27:10 PM PST by AndyJackson
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To: Starstruck
Its his money.

If it's his money, then for you to be consistent you must believe he should pay no taxes and keep it all.

38 posted on 12/23/2012 4:29:37 PM PST by Age of Reason
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To: max americana

Or his liver will fail and then we can pay the full bill for a transplant.


39 posted on 12/23/2012 4:31:12 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: elkfersupper

Dad and I have that beat. Exit taxes? Nope. We own everything jointly. Works in our state. If you have a trustworthy son or daughter, look into it. :)

But if you need an executor, I’m your gal, LOL!

I like the idea of spending nothing aside from food and fuel. I’m pretty sure I could do that at this point. Thanks for the inspiration! :)


40 posted on 12/23/2012 4:31:12 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: AndyJackson

Republicans have allowed the ENTIRE DEBATE to surround raising taxes instead of FOCUSING ON SOLVING OUR DEBT AND SPENDING PROBLEM!!! THERE is ONLY ONE WAY TO FIX the problem and that is to CUT FEDERAL PROGRAMS ACROSS THE BOArd! IN some programs, they need to simply shut the entire program DOWN!~


41 posted on 12/23/2012 4:33:01 PM PST by princess leah
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To: Age of Reason
If it's his money, then for you to be consistent you must believe he should pay no taxes and keep it all.

That's pretty much what I believe. I'll agree to fund the military and the highways, but that's it. The rest would be done through charities. The charities would help those in NEED and help those in WANT to find their own jobs (and be close enough to home to know the difference between the two).

42 posted on 12/23/2012 4:34:24 PM PST by concerned about politics ("Get thee behind me, Liberal")
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To: surrey
Should he leave the money HE EARNED to the government instead so they can piss it away?

If the government lowers taxes on the middle class and makes up the shortfall by taxing the super rich more, then the government can pee it away all it wants.

43 posted on 12/23/2012 4:34:24 PM PST by Age of Reason
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To: GeronL

I’ve seen a bunch of nice barns remodeled into homes.We have a 100 year old barn that I’m thinking about re-working into a world class man cave.


44 posted on 12/23/2012 4:34:24 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: Political Junkie Too

That would be the high point of my day.


45 posted on 12/23/2012 4:37:32 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: Orange1998; Farmer Dean

BUMP

One of the best places... I can believe that one!

The barn I saw had a huge overhang you could park a big rig or RV under. You could probably turn the place into apartments. lol. Maybe a small exaggeration.


46 posted on 12/23/2012 4:38:20 PM PST by GeronL (http://asspos.blogspot.com)
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To: Orange1998

Yes, but darn near *everything* was a tax deduction. 3-martini lunches, you name it. Given the lock down on business deductions that got started in the 80s and continued in the 90s, comparing tax rates between the times is apples vs oranges.


47 posted on 12/23/2012 4:38:41 PM PST by FreedomPoster (Islam delenda est)
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To: Age of Reason

Wow how sad! Well Merry Christmas to you anyway.


48 posted on 12/23/2012 5:18:58 PM PST by Mastador1
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To: lowbridge

Hamptons mansion sale

Welcome to Obamaville.


49 posted on 12/23/2012 5:35:49 PM PST by bikerman (What ever happens from now is all OBAMA's fault. Obama lied,economy died)
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To: Orange1998

You sound like someone without children or friends. It is a natural human right to be able to give what you have earned to anyone you like whether family or friends or charity. I’m surprised that a troll like you are on Free Republic.


50 posted on 12/23/2012 5:40:19 PM PST by WMarshal (Free citizen, never a subject or a civilian)
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