[quote=EconProf]
[quote=NeetaT]I think it all boils down to the massive / alarming increase in the transfer of wealth from the private sector to the public sector. One example is property tax….
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I agree with your point that CA property taxes are high, and are one more reason to leave the state, although I could quibble with the numbers you present.
While Prop 13 limits property taxes to about 1.25% of property values and limits annual increases to 2% per year, Californians still pay more than the national average.
A $200,000 house in nearby states could cost about $600,000 in San Diego. A property tax of 2% of value there will cost $4000 per year. The same house in San Diego will pay $7500 per year in property taxes.
These numbers are approximate, of course. But the point remains that even with Prop 13 “protections”, Californians pay a lot in property taxes. And, BTW, Prop 13 is under attack and could well be altered in the years ahead.[/quote]
FWIW
[quote=phaster]
April 15, 2018 – 9:33pm
[quote] That ‘split roll’ you heard about? Less a Prop. 13 fix than a pension bailout
Proposition 13, the landmark 1978 ballot measure credited with touching off a national anti-tax revolution, has never stopped being controversial. Critics say its cap on annual property tax increases and its two-thirds voting requirement for government bodies to impose new or higher taxes has hamstrung California and been a public policy disaster. That argument, of course, is undercut by the fact that — despite these obstacles — state residents still have among the nation’s highest overall tax burdens.
the preverbal straw that is going to break the camel’s back is,… the “California rule” which implies the tax payers are the designated financial backstop for various corrupt/mismanaged pension portfolio(s),… said another way,… taxpayers are between a rock and a hard place WRT various debt obligations
NOTE local politicians and partisan supports of status quo public pension payouts, are silent on the root cause of the problem(s) (e.g. a 13th pension payment, not fully funding the pension in the first place, etc.) because they don’t want to acknowledge the problem they themselves created
as I see things, its important to understand the various mechanisms that caused the problem in the first place, so that they can be addressed,… sadly it seems politicians seem to think that by avoiding the subject that somehow finances will somehow fix themselves,… IT WON’T
if financial mismanagement which is the root cause of the problem is not addressed, IMHO we are going to see symptoms like homelessness AND prices of various “real estate” continue on an upward trend because those that can afford to live w/ an increased government burden will thrive (up to a point),… while those that cannot afford to live w/ an increased government burden will be crushed!
[quote=FlyerInHi][quote=CA renter]
They want to protect their “tribe” (U.S. citizens, not necessarily race-based) from what they perceive as an attack on their culture, economy, religion, and way of life. That is a perfectly natural response to what they perceive as a rather vicious attack against them, and this belief is not unfounded…your (and Pri’s and zk’s) many posts provide ample evidence of what they’re talking about.
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Problem is that this has nothing to do with principles, merit and hard work. It’s a culture of entitlement that things will remain like you’re used to them. [/quote]
[quote] San Diego County Sues Pension for Not Cutting Benefits
Retirement association says enacting lower tier of benefits would be illegal.
