This entire interview and zero mentions of Prop. 13 and its historical relationship to subsequent changes in the federal and California state tax code. Okay.https://twitter.com/Recode/status/1108312272340992001 …
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Remember that California relies on income tax (progressive but volatile) and sales tax (regressive) because it can’t deal with the property tax issue, which has undermined K-12, free college and public services for 40 years. Anyway, this:https://twitter.com/tribtowerviews/status/1108366937325629440?s=21 …
"Sales tax on services," a very regressive tax. Surprise, surprise the neo-liberal group came up with that. I didn't see anything about a gross receipts tax on Landlord rents (the real winners from high land rents), nor anything about ending Billion-dollar Landlord tax subsidies.
That would probably require overturning Prop. 13, which probably has to be done at the ballot.
should read the Yee doc, in the car now, quick q, has CA considered a Norway-like SWF, a Calpers for general revenue, to put a buffer between taxable income volatility and noncyclical or even countercyclical spending needs?
Not that I can recall. But Calpers isn’t making its 7% and as a result needs to take more risk to cover employee retirements and is weighing putting $20B more into private equity to make higher returns. https://www.wsj.com/amp/articles/calpers-wants-to-double-down-on-private-equity-11552834800 …
On rich nimby suburbs he says "we take for granted that the rich are gonna do that & they have a lot of political clout." If he wants to beat them on taxes, why not on housing?
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