Schwarzenegger Adviser Buffett Suggests California Property Taxes Are Too Low

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

[Bob]

You have articulated the reason why if I lived in California I would vote against recall. It's not as though anyone who came into office now could do anything constructive anyway -- they'll just get the blame.

Click on the link in my tagline and then on "Tom's Plan for California" at the top.

He's got 4 solid points detailed there. You might be pleasantly surprised.

[SupplySider]

Yep, nasty, but effective.

I might try that. It's blunt, but I think it is actually less nasty than the liberals' insinuations that we are motivated by greed and ignorance.

[dogbrain]

I dunno...

....maybe he should be suggesting that his taxes in Nebraska are too high.

A crucial insight into the workings of the elitest mind...

[talleyman]

Virginia, like many other states, can't balance it's budget because it can't restrain spending. The "hated car tax" relief is more than offset by higher fees & taxes on everything else. Our Demonrat governor (who swore during the campaign that he wouldn't seek to raise taxes) keeps trying to raise taxes, but has been kept in check so far.

[Moby Grape]

For all you you folk what had Arnold-gasams as soon as he announced, and who poo-pooed those of us who said that this is not necessarily good, WELL.....we told you....If Buffett keeps running his BIG STUPID mouth, Gray Davis will win the recall.

[b9]

The tide has turned for me.
The only power I have is my vote, consensus be damned.
I'm throwing my support to McClintock.

[Reeses]

The California property tax penalizes new home buyers

That is desirable because we need a good percentage of people to stay put and be pillars of society so to speak. Nomads don't invest in their communities, they aren't going to be there long term. So lower taxes for long timers is a good thing. Long timers pay back in other ways, such as participating in local government, schools, charity work, improving their properties, building social networks, and committing less crime. We also need a good percentage of Nomads too, to keep the economy and work force capacity flexible. I'm currently a member of the Nomad class but do not mind lower taxes for long timers.

[My2Cents]

What I meant by the "fraternity" is that McClintock's been around the Legislature long enough that he's probably ticked off enough people that he'll never get anything but the stonewall treatment. I'm sure the Democrat leadership in the Legislature believe they can make life more difficult for McClintock than for the others because he's "one of them," in a sense, they know him, and they'd have no qualms abusing him. An outsider would have, IMO, a better chance of talking over the heads of the Legislature, going to the people, and turning over some apple carts. The problem with Simon is that he appears to be too nice a guy to turn over anyone's apple cart. And Schwartz may turn out to be too liberal, even on fiscal matters. So our choices all have downsides.

[buwaya]

CA property tax varies from place to place. San Francisco is - 1.117% - fairly low for CA.

Sales tax also varies by location. SF is 8.5% - high for CA

[The Old Hoosier]

I know he doesn't agree with us on abortion, guns, gay adoption, government spending, or taxes. But we have to support Arnold...The party is depending on it...

[glory]

How about he entertains lowering the taxes in Omaha instead? The taxes on my 150k home in Ohio are the same as his million dollar home in Laguna Beach, however I don't say he's taxed too little, I conclude that I'm taxed too much and try and find a way to get my taxes lowered(fat chance when all the parents who don't know how to tend to their own children--including affluent ones--keep passing levy after levy "for the children"('course that really only means "for the children" in public school, who gives a rat's butt about kids in educational alternatives).

[Bob]

Oops, that should be:

www.TomMcClintock.com

[John Lenin]

The social issues are not on my priority list since Davis has taken care of most of them with executive orders, I'm a business man and only care about Arnie putting more money in peoples pockets so they can spend it on my products.

[buwaya]

The option of deferred property taxes to the date of sale are an excellent idea.

[BlessedByLiberty]

The extra benefit is that you are asking them to actually support the solution to whatever social problem they are complaining the government needs to "fix" with our money.

Yes it's blunt. However, the implication that conservatives live in a bubble and do not drink the same water, eat the same food, breathe the same air as they do and therefore do not care about negative effects on such concerns is also blunt, rude and ignorant.

[glory]

I think you are right--does not make sense to me either.

[talleyman]

Republicans should be for sales taxes and property taxes--as a way to reduce the income tax.

Under current law, sales taxes are not deductible (itemized) for federal income tax purposes - transforming state income taxes into sales taxes effectively increases your federal taxable income.

[My2Cents]

The Legislature also increased state "subventions" to local government to replace what they'd lost in property tax revenues (although not entirely), so after Prop 13 it was a revenue shift that somewhat circumvented the financial effects of the measure. To give Buffett some slack, I think he's saying that the method of financing government across the board in California is pretty well screwed up. He probably believes that local governments should fund themselves, and not rely upon state revenues. That state revenues should be used for the state budget. I disagree with his solution -- raise property taxes in order to better fund local government so the state can stop subventions to the locals. But his reasoning, in the way he's identified the interrelationship between all levels of government, is realistic. In other words, his assessment is correct, but his solution stinks.

Maybe we should simply get rid of county governments. I'd suggest that as a start.

[Cinnamon Girl]

Sorry, but I don't believe Arnold will support the insane idea of raising property taxes, no matter what Buffet is floating around right now. Unless he comes out officially and says that will be his strategy, I just don't buy that Arnold is stupid.

[b9]

>>> So our choices all have downsides<<<

In the long run, which do you think is the most intelligent candidate? Pretend for a minute
you have the power to make the difference...
who would you choose to represent you?