[quote=phaster][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]
there’s nothing illegal or unethical about inheriting property and prop 13 IMHO is a spurious and tangential topic, but what the hell i’ll play along
i’ll be the first to admit i’m lucky to have a legacy which allows me some financial breathing room, and because of that i’m a pretty chill landlord who has never raised a tenant’s rent once they are in (kind of keeping with my parents management tradition), and appreciate prop 13 making costs predictable with respect to property taxes
as for how the market values RE (like an apt rental) I have no control over that, since it’s a global marketplace that is influenced by among other things the feds dual mandate to keep unemployment low and keep inflation in check @ around 2% (as explained in a planet-money podcast)
as I see things, prop 13 is an economic moderator to keep TPTB in check and seems to have come about because TPTB were unable to moderate things in the first place
BTW seems your rants/proposals about “reforming” prop 13 are kinda like the rest of your economic analysis,… WORTHLESS DELUSIONS!!!!!!!!!!!! (took me all of two minutes of googling to find a study, with simple statement in the summary section that disproves a belief I’ll bet you’ve held for decades)
[quote=publicpolicy.pepperdine.edu] …This study was undertaken to review the split roll proposal and to assess the prospective impact on the state economy if a split roll tax regime were adopted…
…Overall, this study finds that a split roll property tax regime would have a significant and detrimental impact on the state’s economy, especially at a time when the California economy is struggling…
on the other hand various news articles about the local public pension fund management seems dubious at best and more akin a con job on the public @ large (according to a text book that examined the topic)
[quote] Handbook of Frauds, Scams, and Swindles: Failures of Ethics in Leadership (edited by Serge Matulich, David M. Currie)
Though SDCERS investments were earning well above the 8 percent rate of return estimated by the system actuaries, under normal conditions investments surpluses are required to make up for below-average returns in other years to achieve the average rate of return. Therefore, unless the actuaries’ estimates are grossly incorrect, in the long run true “surplus earnings” are impossible. The use of surplus earnings for the purposes other than maintaining the pension system, such as to expand existing benefits should be viewed as a loan from the system THAT WILL REQUIRE REPAYMENT IN THE FUTURE.
looking at the bigger picture which you seem to miss from the beginning, like YEARS AGO, long, long, long before I found this forum to get a feel of what locals thought about the local economy
[quote=phaster]
October 22, 2016 – 8:30am
[quote=CA renter]
October 9, 2016 – 1:07am
BTW, you’re not educating or informing anyone of anything. The pension issue was beaten to death LONG before you ever came into the picture.
[/quote]
as I see things inheriting rental property, is akin to being given an opportunity to build upon my parents “talents” in that by managing things legally and ethically (as I was raised) I’ve been able to share various “talents” w/ those less fortunate
from what I gather from your prior posts, you lack many vital “talents” needed to solve problems, for example NOT understanding middle school math concepts which is necessary to understand various economic problem(s), BTW NOT understanding middle school math concepts is what can cause economic problems in the first place
then there are questions of group ethics and individual morals of taking responsibility, etc., etc. (basically is the system better or worse off now, or in terms of “talents” is a majority benefiting or just a select few and were actions intentional or not)
[quote=sandiegoreader.com] Did an unwritten city policy result in death?
“Public servants only care about their pensions.”
In April 2011 Farhad Bastani, a resident engineer for the City of San Diego, watched drivers punch their accelerators the moment they arrived at the newly widened section of Camino Del Sur, near the intersection with San Dieguito Road in Black Mountain Ranch.
The high speeds and high road elevations near Lusardi Creek concerned him. He feared drivers wouldn’t see pedestrians who were crossing Camino Del Sur to access the popular Santaluz hiking trails until it was too late.
The following day he met with one of his supervisors, Lisa Adams, to report his findings.
During his four years working as a field engineer for the City of San Diego Bastani had discovered other safety issues. In that time, he had learned the department’s unwritten policy for reporting any safety issues; do so verbally and refrain from mentioning them in any emails. Email, according to a 2013 email from then-supervisor David Zoumaras, could potentially make the city liable in case any lawsuits are filed.
Three months later, on August 30, 2011, Lawrence Farry was driving over 80 miles per hour on Camino Del Sur, near the intersection with Haaland Glen. Meanwhile 56-year-old Joan Milazzo, her husband Paul, and her sister, who had all been hiking the Del Sur Canyon Trail, were midway across Camino Del Sur walking to pick up the other side of the trail.
Farry saw the two women crossing but was unable to stop. His red Nissan Altima struck and killed Joan Milazzo. Her husband watched from a few feet away.
Bastani saw the emergency vehicles at the scene of the accident. In an email on the following day Bastani told his supervisor, Mike Arnold, about the accident. “…I heard a lady was injured there. I should mention that I have noticed some problem[s] in traffic control implementation and [the subcontractor] was aware of that.”
Arnold was not pleased. “Reporting to me this accident is unrelated to your duties as a city inspector,” Arnold wrote. “Please do not report on such events in the future. In addition, any concerns you have regarding traffic control or anything else related to your project should be brought to the attention of the project manager and the appropriate city staff, but not in this context.”
…Bastani says the problem goes much deeper than a fear of legal culpability. He says the problem is with municipal government as a whole. “Many of the managers and supervisors only have a title of public employee, but the only thing on their minds is attending work for eight hours a day, collecting their pensions and retirements. The concept of public service is one of their last priorities”…
essentially before a problem can be solved (or kept from becoming worse), one must admit a problem exists (much like a drug addict or alcoholic isn’t going to pull out of a nosedive dragging family and friends down with them, until the addict admits there is a situation that needs to be corrected), secondly the problem must be fully understood (which in this case means using math that reflects reality, not just numbers pulled out of thin air which make a proposal sound good)
life is a game of chance, sometimes people get lucky being born to parents who provided an environment that stimulated/encouraged intellectual curiosity and left a financial legacy along w/ moral guidelines to hopefully do some good, in other cases people are not so lucky, guess the only thing I know is pretty certain is because neither condition (listed above) exists, things WRT public pensions are going to get a hell of a lot worse[/quote]
Wow. You win the award for delusional, rambling posts; and your sense of entitlement is breathtaking. You were lucky enough to have parents who were in the right place at the right time, and it sounds like they made some good decisions. That’s great, and there is nothing wrong with that, nor with you inheriting what your parents worked for. The problem is with taxpayers subsidizing your profits to the tune of thousands of dollars each and every year. You did NOTHING to earn this subsidy, and the only reason you’re getting it is because other equally-situated people with generally more economic and political power than the average citizen changed the law so that you could obtain this subsidy by inheriting property from your parents. Just based on your posts, I’d guess this subsidy is in the $7,000-$15,000 range, every single year.
Of course, I’m not even counting the subsidy you received when you didn’t have to pay cap gains taxes on the assets you’ve inherited since you got to step-up the costs basis at the time of inheritance.
Again, how in the world do you think you should be more entitled to this Prop 13 subsidy (not to mention the cap gains subsidy) — that you didn’t do a single thing to earn — than the people who have worked for many decades for their pensions (and whose pension income is taxed at the standard “earned income” rate, even if their money comes from long-term gains and qualified dividends)?
Just answer that — and leave the ridiculous cartoons, memes, and other junk out of your response.
