Comments on: Economist called genius by left backs Prop. 13-style wealth protection

By: Brian in SoCal

Brian in SoCal — Sat, 01 Jul 2017 08:28:28 +0000

In reply to Danilushka. I think you meant "socialist drivel".

By: Walter Sobchak

Walter Sobchak — Sun, 27 Apr 2014 02:11:09 +0000

The sentiment behind prop 13 was unexceptional. The execution leaves a lot to be desired, in particular the use of sales as a trigger for re-assessment helps to limit the number of properties that turn over and increases house prices to the point where many young families cannot afford to buy a house.

Ohio solved the problem of inflation by fixing the size of voted levies and deflating the rate to match inflation. That way they can re-assess regularly and not have a clog on the market.

Californians would do well to reexamine the mechanics of prop 13.

By: ajb

ajb — Sat, 26 Apr 2014 19:09:47 +0000

I’ve come to the conclusion that any tax based on assessed value is going to be unfair, period, at least where residences are concerned. It may have been fairer when property values stayed relatively constant over time, or increased at a slow, steady rate. (If they ever did.) But that isn’t what has happened more recently; prices have gone up and down a whole lot faster than that. This leads to either homeowners’ taxes going up tremendously even though they’re not actually wealthier (except on paper), or the current situation where two neighbors can live in homes that are approximately the same value and one pays a ton more in taxes than the other. We need to get rid of this sort of property tax. A tax based on lot size or square footage be fairer–it would still be proportional, so that a wealthier person who could afford a more expensive home would still pay proportionally more, but the tax wouldn’t be swinging around wildly over time just because prices are volatile. (I’d be happy with no tax at all, but I’m trying to suggest something that may sound sensible even to people who don’t lean as anti-government as I do.)

By: Danilushka

Danilushka — Sat, 26 Apr 2014 19:07:44 +0000

Piketty is right that property taxes are a wealth tax whose burden is largely paid by the middle class American, the least wealthy of the people who own property or capital. His prescription for a global tax on wealth however is 100% French Socialist and would be a disaster. The guy has one solid idea in a book of socialist dribble. If I were asked to describe him in one phrase it would be: “Flash in the pan”.

By: Queeg

Queeg — Sat, 26 Apr 2014 04:57:52 +0000

Getting to believe CWD doomers are just plain ole skinflints.

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Sat, 26 Apr 2014 00:20:21 +0000

But those retired government workers are “heros” and deserve 🙂

By: John Seiler

John Seiler — Fri, 25 Apr 2014 15:36:20 +0000

But, Chris, we need to get rid of Prop. 13 to tax middle-class families out of their homes, thus giving their homes to the wealthy, and use the tax proceeds to fund the $300,000 pensions of retired government workers living on luxurious ranches in Idaho.