Leaving California is harder than you think…
01-16-2022, 10:13 AM
#21
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Joined APC: Jul 2018
Posts: 1,091
Originally Posted by bajthejino
Yes, I too am consumed with jealousy that a family that worked, saved, invested and then had the audacity to hand down that wealth to the next generation isn't being punished enough for their success by the tax code-they need the entire weight of the State to come down upon them like the furious winds of an angry god.
Also, it's not like the state is confiscating that wealth. The home still exists, the kids still own the home, nothing has been lost
And if you're equating being fairly subjected to the tax code like everyone else is having "the entire weight of the State come down upon them like the furious winds of an angry god" then perhaps the problem is the tax code?
01-16-2022, 11:53 AM
#22
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Joined APC: Apr 2017
Posts: 3,595
Originally Posted by rickair7777
Fundamentally I'm OK with *some* limits on inheritance, but of course the devil is in the details.
Our national success is based in large part on meritocracy, and for that reason it's good to reset the economic baseline at least a little with each generation.
Our national success is based in large part on meritocracy, and for that reason it's good to reset the economic baseline at least a little with each generation.
Robbing people of what is rightfully theirs is morally reprehensible.
01-16-2022, 06:13 PM
#23
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Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,286
Originally Posted by SonicFlyer
So you're ok with some theft?
Robbing people of what is rightfully theirs is morally reprehensible.
Robbing people of what is rightfully theirs is morally reprehensible.
01-17-2022, 05:25 AM
#24
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Posts: 3,595
Originally Posted by rickair7777
I'm Ok with the kids paying the current tax rate on investment properties they inherited. The homestead, if they want to live there, should keep the original baseline.
01-17-2022, 03:53 PM
#26
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Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,286
Originally Posted by Profane Kahuna
Everyone should pay the same tax rate
Gov was happy to seize their home and sell it, leaving them with the remaining proceeds to rent a double-wide in Bakersfield or Little Rock. Got to get those damn old people the hell out of up-and-coming neighborhoods to make room for trendy DINK yuppies... it's all about the tax base! Income, property, sales, school, road, gas, etc, etc
01-17-2022, 03:55 PM
#27
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Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,286
Originally Posted by SonicFlyer
That's vile and disgusting.
01-17-2022, 04:19 PM
#28
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Joined APC: Mar 2015
Posts: 1,099
Originally Posted by rickair7777
The problem with that (and the reason for prop 13) was that working class and/or retired people bought a modest house decades ago for a modest price. Insane real estate appreciation sends their paper value through the roof, and their tax follows along with it... there were older people who had paid off their homes who were literally forced out because their annul tax bill was 5-10 times what their original mortgage payment was.
Gov was happy to seize their home and sell it, leaving them with the remaining proceeds to rent a double-wide in Bakersfield or Little Rock. Got to get those damn old people the hell out of up-and-coming neighborhoods to make room for trendy DINK yuppies... it's all about the tax base! Income, property, sales, school, road, gas, etc, etc
Gov was happy to seize their home and sell it, leaving them with the remaining proceeds to rent a double-wide in Bakersfield or Little Rock. Got to get those damn old people the hell out of up-and-coming neighborhoods to make room for trendy DINK yuppies... it's all about the tax base! Income, property, sales, school, road, gas, etc, etc
People get grandfathered in with their cost basis for property tax and then proceed to vote for every increase in government spending under the sun. They don’t have to pay for it so why not?
Decades later those who were not lucky enough to inherit a home can’t afford anything and there is a mass exodus out of California.
Locking the property tax cost basis of your home in at purchase is one of those things that sounds like a good idea but has multiple negative un-intended consequences.
01-17-2022, 04:36 PM
#29
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Joined APC: Apr 2017
Posts: 3,595
Originally Posted by rickair7777
The problem with that (and the reason for prop 13) was that working class and/or retired people bought a modest house decades ago for a modest price. Insane real estate appreciation sends their paper value through the roof, and their tax follows along with it... there were older people who had paid off their homes who were literally forced out because their annul tax bill was 5-10 times what their original mortgage payment was.
01-17-2022, 04:49 PM
#30
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Joined APC: Mar 2015
Posts: 1,099
Originally Posted by SonicFlyer
Which is why property tax is harmful and should be done away with it. Essentially it is feudalism where we are all serfs to the government. The government should be run on (optional) user fees, and if it must tax, then a minimal sales tax is the least destructive.
The only thing worse than everyone paying the same tax rate, is when one group of people legislates themselves a loophole to pay lower taxes than their neighbors while receiving the exact same services.
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