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Props like 13 and 58 were passed in the name of poor grannies; when we look at differential benefits, it is actually rich grannies who end up benefiting 10 fold

Props like 13 and 58 were passed in the name of poor grannies; when we look at differential benefits, it is actually rich grannies who end up benefiting 10 folds better than a grannie living in San Bernardino county. This has parallels in other laws: in the name of terrorism, many laws were passed to spy on everyone—ranging from anti money laundering, know your customer, enhanced due diligence, forcing private companies to be active partners in spying. One way to kill the beast is by partial repeal of commercial properties. Apple claimed its real estate value’s worth is $200.

duxup 8y ago
I think a better parallel are tax breaks such as mortgage interest deductions and other tax breaks that the poor generally don't use to get into a house and the wealthy benefit from a great deal. Same goes for the systems for prepaying for college and such.
djrogers 8y ago
> One way to kill the beast is by partial repeal of commercial properties. Apple claimed its real estate value’s worth is $200. That has nothing to do with Prop 58 - it’s accounting rules and depreciation there...
- manfredo 8y ago
  Could the government use this as a basis to purchase this property for $200 via eminent domain?
  - godzillabrennus 8y ago
    Sure. Then Apple would use its money to replace the government. They’d end up with a $2B payday from the government and their land back when the new regime took power.
- tankerdude 8y ago
  You don’t own a home or have depreciated a business property have you? You can depreciate the value of a building over time but not the property itself. Land value is still land value and will never be “depreciated”. What happens is that folks like Disney in Anaheim as well as it seems, Apple owned the land for a long time. So Disney’s real estate tax bill is near nothing for Disneyland. That’s the pain of prop 13. Should have been modified for sure!

duxup 8y ago

I think a better parallel are tax breaks such as mortgage interest deductions and other tax breaks that the poor generally don't use to get into a house and the wealthy benefit from a great deal. Same goes for the systems for prepaying for college and such.

djrogers 8y ago

> One way to kill the beast is by partial repeal of commercial properties. Apple claimed its real estate value’s worth is $200. That has nothing to do with Prop 58 - it’s accounting rules and depreciation there...

manfredo 8y ago
Could the government use this as a basis to purchase this property for $200 via eminent domain?
- godzillabrennus 8y ago
  Sure. Then Apple would use its money to replace the government. They’d end up with a $2B payday from the government and their land back when the new regime took power.
tankerdude 8y ago
You don’t own a home or have depreciated a business property have you? You can depreciate the value of a building over time but not the property itself. Land value is still land value and will never be “depreciated”. What happens is that folks like Disney in Anaheim as well as it seems, Apple owned the land for a long time. So Disney’s real estate tax bill is near nothing for Disneyland. That’s the pain of prop 13. Should have been modified for sure!