That’s really not the reason. California takes 11% of income in revenues, 6th highest in the US. The reliance on capital gains is sub-optimal & volatile, but our lack of funding is more about where we choose to spend our money than total amount of revenue. https://www.politifact.com/california/statements/2017/jul/11/travis-allen/mostly-true-californias-taxes-among-highest-nation/ …
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Hm.... why might the state need to over-rely on income and capital gains taxes...? Might it be a consequence of its property tax structure?
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The problem is that the people that live there very likely couldn't afford the higher taxes. I know that we would have had to move when I became unable to work if not for Prop 13, and we just live in a 70s tract home in Orange County.
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What we really need to do is figure out a way to make land less of a profit center, because that is making it hard to survive in CA.
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any discussion about how the state’s coffers are full from the income tax on huge salaries and cities are starving from prop 13?
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I’m with you, but I do wonder how things would have played out had it not passed, in terms of housing. Do you suppose there would have been less appreciation? No doubt this has been simulated.
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Since 1978 admin personnel per student has trippled at state universities ... $$$
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If that house paid higher taxes, that revenue might go to a variety of uses, but not to the schools, which are funded by the state under a per-student formula, completely independently of local tax revenue.
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(tries to imagine free college for her children) Wow, what a better state that must have been, in so many ways.
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This narrative is silly. Look at tuition of other state school peers (UVa, North Carolina, Texas, etc) over the same time period. Growth rate has been the same.
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