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08/29/2003 Entry: "The Untouchable Prop 13"

"Camejo, who heads an investment brokerage firm he founded, called for strikingly higher income tax rates on Californians who earn more than $500,000 a year, changing Proposition 13 to allow reappraisals of many corporate properties and tax cuts for low-wage earners."
Let the rich pay, Camejo says, The Green Party hopeful would boost education spending, cut sales taxes and amend Prop. 13., by Herbert A. Sample, Sacramento Bee, August 29, 2003

Prop 13 is the sacred cow of tax politics. Even a 1 or 0.5% increase in property taxes for everyone or just those who won't feel it (like Warren Buffett) would go a long way toward pulling California out of the hole it's dug for itself. But it will never happen because homeowners here believe they are entitled to own a house that, in many cases, they can't realistically afford. It's mortgage welfare, I tell ya, mortgage welfare. And mostly on the backs of the truly poor, who really can't afford a house or health insurance or a car or day care or any number of things more affluent citizens, many of them militant mortgage junkies, take for granted.

I once read that organized labor never really took off in LA because the workers owned those little bungalows and were not willing to risk them in a labor action, like a strike. That explains a lot about LA, don't it? Solidarity? We don't have to show you no stinking solidarity.

Sigh. I'd go live in the forest if I could afford it.

 

 

 

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