Posted on 08/17/2011 9:16:11 PM PDT by americanophile
Aug. 17 (Bloomberg) -- Los Angeles Mayor Antonio Villaraigosa proposed dismantling California’s Proposition 13, which helped begin a nationwide anti-tax movement, in favor of a “grand bargain” that would boost levies on business property.
The Democrat who leads California’s largest city called on Governor Jerry Brown not to shrink from making sweeping changes in state tax laws that Villaraigosa, 58, said could produce as much as $36 billion a year in new revenue.
Villaraigosa urged the removal of Proposition 13’s limits on commercial-property assessments while retaining its cap for homes. The mayor said boosting tax revenue in the most-populous state would shore up the University of California system, promote budget stability and restore public-school funds.
“It’s time to address the unfairness inherent in a system that allows Wall Street hedge-fund managers to devise complex real-estate investment trusts that give the super-rich a free pass on taxes every ordinary homeowner in California has to pay,” Villaraigosa said in a speech at the Sacramento Press Club. “Let’s apply, as an idea, Proposition 13’s protections to homeowners and homeowners alone.”
(Excerpt) Read more at businessweek.com ...
Translation: I want to run off all the remaining eeeeeevil businesses in Los Angeles. Only the government’s operations should exist!
“They won’t stop at commerical properties either, don’t believe that for a minute.”
Didn’t believe it for a second.
Astonishing, isn’t it??
yep, that's what California's businesses need right now (puke)
Grew up there. No, no it isn’t astonishing.
What do you expect from someone, who is little more than a Insect?
Whut? Caleefornia sill exists? I
This dude would have been Governor if not for a sex scandal that
took him out of the 2010 race.
I get it.
The government’s idea of a “grand bargain” goes something like this:
“Your money or your life...”
I left California and took my tax dollars with me.
The good weather is getting awfully expensive.
The people who will be hurt by this is small and medium sized companies that occupy older properties. And they are already hurting bad. For years it was rare to see commercial or industrial property with for rent signs..now you see a lot of properties that are vacant. Increasing taxes on this segment will drive more small business’s and employers out of business and by causing rents and taxes up. If the economy were roaring..incremental changes might be ok...but right now this would be a job and economy killer.
VILEaraigosa is just trying to do what he does best, bring Mexico’s economic plan to us.
Ditto! Zero state income tax is pretty cool.
If he does this, the few businesses left in the state will flee and net net they’ll have less total tax revenue.
Do it!
Don’t think about it,don’t listen to reason, just DO IT!
Hurry up and DO IT!
Nevada, Arizona, Texas, Idaho, will all compete to provide new homes to the businesses these pinheads drive away.
Not all business will be able to leave, some are tied to the land or major facilities that are not easily moved due to their scale, such as oil refineries.
I’m sure that once the squeeze gets tight enough the remaining business will find ways to fight back, perhaps they will stop supporting liberals and unions.
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The good weather is getting awfully expensive.
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True. I learned to deal with lots of heat and a little bit of cold here in Savannah. Plenty of fine weather beyond that. Hard to imagine the appeal Massachusetts and Wisconsin will have as they do the same danged thing California is doing.
The Lib RATS in CA are hell bent on driving the rest of the productive citizens out of the state. I came very close to accepting a senior Engineering Management position at Los Angeles AFS about 10 years ago, I’m sure glad passed it by.
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