this guy is the biggest water carrier for the democratic party i have ever seen...he's got to be some sort of caricature right
Your shift key is broken.
As far as I know, Prop 13 placed no restrictions on the power of the Legislature to curb spending in order to meet projected revenues. Time to give the Nobel back PK.
Wake up people! Liberal ideals sound all great and wonderful. But in the harsh light of the real world liberal ideas are a failure. It sucks sure, the world is a mean, unfair, competitive place. Accept it, account for it, and work for success.
I think we need a Constitutional Amendment to ban government from owning property, collecting taxes or distributing monies or goods to individuals or corporations.
That should fix it.
Huh? Property taxes are the problem with the state budget? Here in Texas, we have NO state property taxes, only local and county.
The man is an idiot and an economic fool.
...It is because Arnold wanting to be more like a Democrat than a Conservative like Rush Limbaugh that has gotten the Golden State its tarnished bond rating on Wall Street...heck, many of us who are residents are praying for Limbaugh-like statesmen to come in and overhaul the wreckage.
Some of us weren’t lucky enough to get baskets full of bribe money from Enron for “consulting fees”, so we can’t afford sky high property taxes like Krugman.
This guy is about the stupidest Nobel Prize winner in history. Raising taxes and giving the money over to wasteful bureaucrats is not the ticket to prosperity. How can the man write an entire column about the California government and not mention its runaway spending?
How does this dolt hold any job that isn’t McDonalds related?
Any tax at all on homestead property is immoral!
New York has problems very similar to California’s. Are Republicans the culprit there too?
It seems like more than a coincidence that America’s two big blue states are both drowning in debt.
Prop 13 was and continues to be a disaster.
Sadly, an example of why I&R is not a good idea.
Representative republic means NO direct democracy. I&R is direct democracy. IOW, allowing the inmates to run the asylum.
This guy’s supposed to be an economist?
Wonder how many retired Californian’s wouldn’t be able to afford their homes if property taxes hadn’t been contained by prop 13?
In my area, we have a 1.25% Property Tax Rate. the first 1% is set by Prop. 13, and the additional .25% is for the added on indebtedness due to Voter approved Bonds etc.
The Tax Assessor can raise Property Taxes by 2% a year under Prop. 13 rules. The recent devaluing of home prices is affecting revenues as newer Home buyers are appealing their Assessed Home Value that sets their Tax Bill.
We bought our home in 1992, and my Property Tax Bill has risen from $2400 a year to $3200 a year. I could not afford to live in this house if the Property Tax Rates mirrored those in New Jersey or New York.
Proposition 13 is the only way many people can afford to live in their houses, especially older folks on fixed income.
Krugman the Liberal cares more about Government Power than the Useful Idiots that vote for his fellow Democrats. Whatever you pay in Taxes is never enough.
The state of Texas is FULL of “Limbaugh Republicans” and Texas created more jobs in 2008 that all 49 states COMBIND, has NO state income tax, and last I heard, has a balanced budget.
Krugman proved once again that he is in total denial and is not emotionally capable of facing reality.
Yes, my gawd what a horror, politiclowns can't fleece the sheeple at a drop of the hat, what is this world coming too...
[ /sarc ]