Some of those "landed gentry" are just middle class homeowners across the state who bought a home when they could in the last several decades and want to continue living there. It's not like all of them are living in $10 million homes in SeaCliff they bought in 1978.
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it is just very obviously not fair to anyone else living in the state. we can not have a different set of tax laws for people who’ve lived here longer.
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How about a tax on tech people who just arrived into the state, then got windfalls of 7-11+ figures when IPO? Why are you doing a class war thing in such a glass house?
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Replying to @MarkTravis15 @micsolana and
It’s more a class war to advocate for different taxation for different groups, as is the status quo. What is it about a person who bought their house 15 years ago that should give them a lower rate of taxation on their insanely valuable property?
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Replying to @zachtratar @micsolana and
Imagine a family who had a home in Atherton since the 50's when it was a dinky rural town, not the richest zip code on the planet. They're not computer programmers or experts in predicting stocks go up or down. Maybe a plumbers and a librarian. 2.5 kids, grown. 1/?
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Replying to @MarkTravis15 @zachtratar and
There's no way they can move anywhere close to where they're living, but at least they can stay put for awhile. When the 2.5 kids have grown and they're ready to retire, they look elsewhere. Maybe they're tired of the traffic and the filth when they make it to The City. 2/?
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Replying to @MarkTravis15 @zachtratar and
So, they sell their house for really massive profits, and get to move just about anywhere in the world to live comfortably to live out their golden years. Or maybe they have something to pass to their kids. 3/?
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Replying to @MarkTravis15 @zachtratar and
Prop 13 helps these people stay in California. No, I don't want to increase their taxes. Instead, if you want things to be "fair", I suggest lowering taxes for new property owners to match that of the longer-term owners. 4/fin
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Replying to @MarkTravis15 @zachtratar and
Ding ding ding! Now there's a novel idea — lowering property taxes for everyone, to build a stronger, bigger, upwardly-mobile middle class in California, giving regular people more purchasing power for everything since their property taxes are set at a low, stable rate.
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Replying to @jenneraub @MarkTravis15 and
To be clear, I'm also in favor of the "lower the taxes" strategy as well. This all being said, the taxes that need to be lowered/eliminated the most are income taxes on those making less than $60k/year. They should pay 0%-5% total, not 25%-35%.
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agree, the question of whether taxes should be lowered broadly is a different question
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Replying to @micsolana @zachtratar and
I think what's going on is you don't want the legislature to go after tech windfalls, so you're teaming with public sector unions to extract from long-term California businesses instead. Why not encourage fiscal responsibility from the government instead?
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Replying to @MarkTravis15 @zachtratar and
that’s... not what’s going on. and did you read the guide? i’m absolutely encouraging fiscal responsibility. equal treatment under the tax code isn’t “going after” someone.
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