- 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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Replying to @justindross
It goes back several decades farther than that in California. In 1978, then
@jerrybrowngov warned voters if they passed Proposition 13 to roll back and cap their property taxes, it would probably mean CA universities would have to start charging tuition. (Yes, they were free.)pic.twitter.com/Cwpsctydjf
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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 …
2 replies 28 retweets 131 likes -
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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Kim-Mai Cutler Retweeted Kim-Mai Cutler
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