Charles, what have you done with the rest of the Stranger staff?
all charles all day!
This is what happens when your tax base relies on property taxes.
He's actually proposing a 10% cut to all budgets, if I read correctly, which isn't a terrible idea overall.
No Bellevue Ave, this is what happens when your tax base does not rely as much on property taxes. After Prop 13 neutered property taxes, California has become increasingly more reliant on income and sales taxes, which seem to fluctuate a lot more in times of boom or bust.
perhaps you're right, but it seems to be that you could attribute much of the shortfall in revenue to the complete lack of property tax income expected due to foreclosure, declining home prices, etc. in California. The new home buyers were going to pay a lot more in property taxes even with prop 13.
Shouldn't Charles be outside with those guys who push the Communist Party on Broadway and Olive way right now?
If you look at the revenue chart here http://www.dof.ca.gov/HTML/FS_DATA/STAT-ABS/documents/M10.pdf, it's amazing to see a 3 fold increase in personal income tax rev and a doubling in the increase in revenue for state sales tax over 13 years
The total revenue for the state almost doubled in 13 years.
I have to think that a lot of people's income taxes got inflated off of the real estate bubble too.
#5 is correct... California has very low property taxes all things considered... unless that was your point.
Remember when Schwarzenegger had Warren Buffett as his economic adviser, and the first words out of his mouth were "fix the property tax, I pay a tenth as much for my Malibu waterfront home as I do for my house in Nebraska, it's criminal" and he was immediately fired? Prop 13 is destroying California.
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