I will pay more in property tax this year as a new owner than my next door neighbor has paid in TOTAL since they moved there in 1965. That's California's Prop 13. It's a massive wealth transfer from the young to the old, many of whom rent their homes and keep the profits
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Largely a transfer of wealth from the wealthy to the poor, as taxation often is
san francisco land owners are essentially a hereditary gentry. wealthy, politically well-connected, powerful, and the status is inherited. any notion these laws are designed to help poor people is propaganda.
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Fairly narrow view......might be true in certain pockets of the city by not generally true by any means. Moreover, contending that this is "a transfer of wealth from the poor to the wealthy" is hilarious to me....and so wrong....
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Thomas Jefferson owned a mansion but was cash poor even close to bankrupt. If he was alive today, living in his house for 30 years, would u describe him as poor living in his mansion?
End of conversation
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