[quote=FlyerInHi][quote=CA renter]Instead of posting pictures of lame cartoons, try responding to why we should take from those who worked (public sector employees) to give to those who don’t (wealthy commercial, industrial, and residential landlords; owners of vast tracts of land, etc.).
If we were to stop subsidizing the land owners (not referring to a single primary residence, as that is why Prop 13 passed by such a large margin, and I do not believe in taxing people out of their homes), the “pension crisis” in California would mostly disappear.
YOU are the beneficiary of thousands of dollars of theses subsidies every year because you inherited your parents’ rental units. Why do you think a cop, firefighter, or teacher should give up the pensions that they have earned so that we can maintain these exceedingly profitable — AND TOTALLY UNEARNED — subsidies to YOU?[/quote]
I don’t think there’s any kind of equivalence between Prop 13 and pensions.
Pensions shortfalls are a result of past budgets shenanigans and/or incompetence. Let it all work out in court when the time comes.
I would never support tax increases to paper over the pensions. Tax increases for services to citizens, fine. But no new taxes to pay for retired people who don’t provide us anything. Sorry.[/quote]
It’s not a “tax increase.” It’s repealing a subsidy that has benefited primarily those who have a higher net worth (because many of these properties are paid off) than those who are subsidizing them (more recent buyers who are more likely to have mortgages).
There is a strong argument in favor of Prop 13 where it applies to a single primary residence; but for those who are getting this subsidy for rental homes and apartment buildings, second homes, inherited properties, commercial/industrial properties, and vast tracts of raw land (often covered by the Williamson Act, too, which gives them even greater tax relief), it is 100% unethical and unjustifiable.
The “pension crisis” is indeed affected by these subsidies because the beneficiaries of Prop 13 are competing for the same money. The difference? One group earned that money, and the other one didn’t.
Before anyone starts complaining about those who have earned their compensation (which includes deferred compensation), we need to tighten up the largesse to those who never earned the subsidies they are benefiting from year after year.
Phaster is one of the greatest critics of public pensions, but he is also one of the greatest beneficiaries of Prop 13 because he inherited a multi-unit rental property from his parents who’ve owned it for many years. His subsidy is many thousands of dollars each year. He is in no position to criticize those who have worked for their money.
