Mike Solana

So destructive. This is how they want to define their philanthropy — by helping the politicians chip away at Prop 13? The problem with California is not that it’s under-taxed. Prop 13 has been a shield for the middle class. No wonder the country increasingly despises tech wealth.https://twitter.com/MarketUrbanism/status/1315737283513982976 …

This would be the largest property tax increase in California history. It will not simply be paid by "rich landlords" because tax is routinely passed through to tenants, and thus goods. So call it what you want, it's a "tax on everybody". At worst possible time.

Couldn't agree less here. Prop 13 is a massive wealth transfer from the young to the old. Transitioning CA from an income tax base to a property tax base would be a massive unlocking of long term prosperity for the state

My next door neighbor has paid less in total property tax since 1965 until today than I pay in a single year. In a sane society, we'd at least subsidize based on need instead of based on owners' age. Or even accrue tax increases against the value upon sale instead of giveaways.