Financially, better than that. There was like $10bil in the rainy day fund. Years of surplus, banked.
While I know it’s cool to hate CA, I think a lot of it is jealousy.
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I think State of CA will have a budget problem very soon... Other states will have the same problem as well...Because of this shutdown, less tax is being collected.
I am sure that Governor will propose raising taxes...How about Proposition 13? Governor is not a fan of Prop 13...He will argue that Prop 13 should be abolished because of coronavirus crisis.
L.A.Justice wrote:
“Financially, better than that. There was like $10bil in the rainy day fund. Years of surplus, banked.
While I know it’s cool to hate CA, I think a lot of it is jealousy.
__________________________________
I think State of CA will have a budget problem very soon... Other states will have the same problem as well...Because of this shutdown, less tax is being collected.
I am sure that Governor will propose raising taxes...How about Proposition 13? Governor is not a fan of Prop 13...He will argue that Prop 13 should be abolished because of coronavirus crisis.”
If prop 13 is done away with, the tax on a house that had its value pegged at (for example) 1985 levels would triple.
250k in 1985 —> 850k in 2019
tax is 2500 with prop 13
250k in 1985 —> 850k in 2019
tax is 8500 without prop 13
What has the shutdown done to property values?