- We gutted a generation’s savings by issuing dumb credit for overpriced homes until ‘08 - Then we loaded up their kids with student debt for valueless degrees to pay for university bureaucrats - Now nobody has money and it is going to slowly crush our economyhttps://twitter.com/NPR/status/1068490328414408711 …
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Then, of course, capping property taxes just got priced into higher property values. So that generation of homevoters cut their taxes, which inflated their home values and then which also gutted public services like college. https://escholarship.org/uc/item/80t0102p …
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However, we did have a huge problem with the elderly who owned homes free and clear but were losing them over the high property taxes.
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I have a hard time swallowing that the current Regents would be able to survive with just property taxes, if Prop 13 wasn't a thing, tho.
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survive? What do you mean by that? Are you talking in terms of some of the UCOP issues? or something else?
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Thank you for sharing. So surprised by this!
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Twas Gov Reagan who 1st forced "fee hikes" (by law couldn't charge "tuition"). Nobody paid for more than nominal chgs for state higher ed before this. I went to UC under Reagan. My mom went to UC, she paid $0. Before that Jerry Brown's mom! -- $0! And CA was solid GOP back then!!
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/2 So that $225 per quarter mentioned in the article? That's Reagan's fault. And it was VERY hard for lots of us to come up with. (Approx $1250 today, due every 3 months, 3 times yearly.) Before that chump change fees for incidentals was all any California resident had to pay.
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This is the path the whole country has been meandering on since Reagan came to office. Greatest disparities in wealth since pre New Deal.
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Except we voted for the lottery which was supposed to fund the schools. Where in heck is that money going?
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and that was before the advent of instant gratification of the current times. Even then their reaction was for the moment with no thought of what it meant for the future. Who was in power then?
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Prop. 13 was passed by the voters.
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