Income and sales taxes have increased in CA because of profligate spending and public pension promises that are now coming home to roost, not because property tax increases were indexed to inflation
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Replying to @pmohme @kimmaicutler
Wow. You really aren't paying attention. Ok. I'll assume spending massively increased. Normally, gov would raise property taxes, hitting wealthy landowner. But prop. 13, so instead they pass income and sales taxes. Hitting normal homeowners more than a simple prop tax raise
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See how prop. 13 still hurts the average homeowner. It doesn't limit state spending. And it stops the state from taxing the enormous wealth of the Nimby mansion owners.
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Replying to @about_dave @kimmaicutler
Lol "hurts the average homeowner"...whose retirement will be funded by downsizing because they don't have one of the gold plated public pensions you would pay for with your tax grab. The irony.
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Replying to @pmohme @kimmaicutler
If you want to be taken seriously. You have to acknowledge and substantively respond to points. I'm not even sure what you were claiming there. Downsizing? Yeah, public pensions are too generous, worse problem of being underfunded. Thanks boomers for screwing us again.
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Replying to @about_dave @kimmaicutler
To be taken seriously you should understand related issues: homes represent most if not all of savings of most, which is accessed to fund retirement by 'downsizing' (selling and buying smaller places...which triggers reassessment and generates capital gains and transfer taxes)
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Replying to @pmohme @kimmaicutler
Ah. Downsizing. Aka collecting gain from decades of screwing my generation with restricted zoning and racist housing policy
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Replying to @about_dave @kimmaicutler
Yes, local governments are all racist and/or out to screw your generation...a narrative that shows you can't objectively substabtsite your points.
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Replying to @pmohme @kimmaicutler
Let's not forget. Prop. 13 giving wealthy Seniors massive tax bresks. Putting tax burden on the young. Restricted zoning, making first homes unaffordable for young. Underfunded social security and pensions. Putting burden on young.
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Replying to @about_dave @kimmaicutler
I'm part of the younger gen you describe. My 'house' is a 1,300 s.f. flat that's appreciated about 4%/yr since I stretched to buy it. Instead of begrudging folks living in larger nearby homes who may be LT owners, I put my head down and work hard. Try it, you might be happier.
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In SF? Or where? When did you buy it?
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Replying to @kimmaicutler
Yes, SF. Bought at the top of the mkt, right b4 the financial crisis. Underwater for about 4 yrs. Didn't walk away or whine about it.
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Replying to @pmohme
Ah so when things were $500-800/sqft not $1000-1,400/sqft
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