It built an entrenched political class that prevented millions of young, poor future Californians from having homes. https://twitter.com/twliterary/status/760248180206206976 …
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if we capture equity gain at sale, the measurement evaporates. Any value tax gets would be removed from the price.
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If we just used regular 'stamp duty', that would greatly amplify one of the problems of Prop13: holding on forever
End of conversation
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