Posted on 08/17/2011 9:16:11 PM PDT by americanophile
Aug. 17 (Bloomberg) -- Los Angeles Mayor Antonio Villaraigosa proposed dismantling Californias 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 Californias 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 13s 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.
Its 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. Lets apply, as an idea, Proposition 13s protections to homeowners and homeowners alone.
(Excerpt) Read more at businessweek.com ...
Sell California to Mexico. The Mexican Oligarchs will at the very least drill for oil and take no crap from anyone who tries to stop them...
Not gonna happen.
When the unions can mount a $100m ad blitz at the drop of a hat, as they showed in 2005 against Arnold's "Year of Reform" proposals, rather than fight, business will find it's cheaper to just relocate or close. The attrition has been happening for a decade.
They truly are.
Lower taxes + deregulation = more jobs, greater profits, higher salaries and increased tax revenue. This has worked every single time it has been applied!
I used to work in Santa Monica and drove 405 from Redondo past LAX daily. What a hell commute. Have been done with
CA since 1999.
The Legislature, Governor Moonbeam & Mayor La Raza cannot make laws changing Prop 13.
That was a state Proposition, started with strong petition activity & very strong voting by the voters in 1978.
Where was Mayor La Raza in 1978? Was he even in kindergarten???
He is clueless what kind of damage this would do to California’s economy.
Nevada will welcome the new business activity & those who follow their jobs. NO income taxes here—for corps or persons. Lower costs of buildings & homes & lower property taxes.
This needs to be squashed immediately if there are any California residents who want their state to survive.
Otherwise:
Turn Out The Lights.....The Party’s Over.
Sell Los Angeles & San Diego to Mexico.
The rest of the state, except for the Bay area is pretty Republican & productive.
Question for the mayor. Where do the owners of properties get their money to pay expenses including property taxes? Of course the answer is rents. If expenses go up, such as an increase in property taxes the landlord will have to raise rents. Thus rental costs will go up for the tenants. The property owners costs are simply passed along to the tenants. Thus costs of everything will be higher.
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.Democrat.
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