Schwarzenegger Adviser Buffett Suggests California Property Taxes Are Too Low

The Wall Street Journal ^ | August 15, 2003 | JOSEPH T. HALLINAN

[Pubbie]

Guard yourselves - The WhoreAcle of Omaha is coming for YOUR bank accounts! :(

[ElkGroveDan]

Hey SHHHH!!!! No one wants to hear this. Cover your ears everyone, turn off Rush and look the other way. We won't hear anything to burst our movie-star bubble.

[SolutionsOnly]

That should sober up some Republicans! Hope so, anyways!

[Austin Willard Wright]

No....they will continue to rationalize....rationalize....rationalize. It will be amusing to see how they try to do it, however.

[spokeshave]

Looks like I need to re-engineer my tag line......

[I still care]

"In California, he owns a Laguna Beach home valued at $4 million, or eight times as much. The annual property taxes on that home are just $2,264 -- a fraction of what he pays in Omaha"

I freely admit I find that amazing. I would pay half that in Florida on a $100,000 house.

By the way, if he is so concerned about the school system, I think instead of raising everyone's taxes, he should donate that house to the school system.

People need to understand that taxes are slavery.

[DManA]

"I vote for far more Democrats than I vote for Republicans. But I vote for plenty of Republicans."

How may places and how often does this guy vote? Is he confusing voting with giving money?

[mallardx]

Arnold, NO

McClintock, YES

[evolved_rage]

I didn't think Florida had an income tax. California is 9.3% for > $38K.

Nebraska is 6.84 for > $26k.

[ProudGOP]

This is a duplicate thread.

On the other thread, a poster said its because he has had the house for so long it has appreciated. Prop 13 limits how much the tax can be increased.

If he bought the house today, he would be paying 40,000 or so.

I am paraphrasing another poster but it made sense to me.

[Henchster]

There's no way he pays that little on a $4 million house here in Cal. It's more like $40,000.+

I think the doofus looked at his MONTHLY tax bill (escrow) on his Cal home, and compared it to his ANNUAL bill on the house in Omaha.

[I still care]

We don't. I'm not complaining.

In NY I paid $6100 on a $250,000 house, and there was a NY state income tax too. It was way too high to stay there, that is why I came to FL.

[Rodney King]

The fact that taxes are astronomical in Nebraska doesn't mean that they are too low in California. 14K for a 500K house is a lot!! In OK, taxes are about $1,200 on a 130K house.

[Callahan]

Replacing high income taxes with higher property taxes makes sense to me. I always prefer consumption-based taxation. Don't like it, choose a less expensive home. The problem would be if Arnie jacked up the property tax rate without cutting anything else

[novacation]

Arnold better put a cork in that one or he will lose. I pay $4,700 a year in property taxes on a house I bought last year. That is too much. Arnold needs to kill that comment quickly. No more taxes! If someone buys a $4,000,000 house now the taxes will be over $50,000 a year.If Buffet want so pay more he can. Liberel puke alert.

[Dane]

No....they will continue to rationalize....rationalize....rationalize. It will be amusing to see how they try to do it, however.

Huh? Although I am not a California resident, I questioned Arnold bringing Buffett on to his team.

JMO, but Arnold made a major mistake, but the only other realistic contender is Bustamante.

It's a political minefield out there, and California is the biggest of all, for candidates and voters.

[MineralMan]

Wasn't someone saying that Ahnuld was a Republican? Sure doesn't sound like it to me.

[NormsRevenge]

It won't be the last edit you have to make on your tagline, I reckun. LOL ;-)