4 ms·

For example? Truly, I'm curious as to what the dysfunctional policies you're referring to? Absolutely agree the homelessness and housing are ridiculous. That sa

by jcmi 8y ago

For example? Truly, I'm curious as to what the dysfunctional policies you're referring to? Absolutely agree the homelessness and housing are ridiculous. That said, California is something like the 5th largest economy in the world, produces a huge chunk of USAs food, has some of the greatest universities in the world and is home to some of the largest and most powerful companies in the history of humanity (not sure how I feel about that one). Not to say there aren't huge issues but it's not exactly a hellscape here.

Hermitian909 8y ago
I'm not the guy you replied to, but the poster child for this has got to be Prop 13[1] which limits the maximum property taxes on property can increase at 1% of the full cash value as last assessed. Nominally, it prevents old/poor people from being priced out of their homes. The owner of a home not reassessed since the 50s now worth millions today may be paying a few hundred a year in real estate tax. Corporations have found a variety of loopholes for themselves here, the simplest involve shell corporations[2] and have allowed large and extremely valuable properties to change hands without reassessment robbing the state in billions in revenue. Even reversal of the policy just for commercial property would produce a massive windfall of much needed capital for the state, to the tune of roughly 8.2-10.2 billion dollars per year[3]. It's honestly one of the worst longstanding pieces of legislation I've ever encountered and one of the big reasons for the massive distortion in the CA housing market. [1] https://en.wikipedia.org/wiki/California_Proposition_13_(1978) https://en.wikipedia.org/wiki/California_Proposition_13_(197... [2] https://financialtransparency.org/how-shell-corporations-undermine-schools-in-california/ https://financialtransparency.org/how-shell-corporations-und... [3] https://static1.squarespace.com/static/550356b8e4b02e0b159ae1c9/t/55bbdb0ce4b00d83ca270269/1438374668173/USC+Report+2015-05+-+Getting+Real+About+Reform.pdf https://static1.squarespace.com/static/550356b8e4b02e0b159ae...
friedman23 8y ago
Hermitian already mentioned the worst offender.I've lived in New York, Atlanta, Miami and San Francisco. San Francisco is probably the worst place I've ever lived.
RhysU 8y ago
> California is something like the 5th largest economy in the world... California's a big economy. But it's not (at least superficially) outsized relative to other parts of the United States that contain similar populations [0] [0] https://github.com/RhysU/states/blob/master/README.md https://github.com/RhysU/states/blob/master/README.md

by jcmi 8y ago

Hermitian909 8y ago

I'm not the guy you replied to, but the poster child for this has got to be Prop 13[1] which limits the maximum property taxes on property can increase at 1% of the full cash value as last assessed. Nominally, it prevents old/poor people from being priced out of their homes. The owner of a home not reassessed since the 50s now worth millions today may be paying a few hundred a year in real estate tax. Corporations have found a variety of loopholes for themselves here, the simplest involve shell corporations[2] and have allowed large and extremely valuable properties to change hands without reassessment robbing the state in billions in revenue. Even reversal of the policy just for commercial property would produce a massive windfall of much needed capital for the state, to the tune of roughly 8.2-10.2 billion dollars per year[3]. It's honestly one of the worst longstanding pieces of legislation I've ever encountered and one of the big reasons for the massive distortion in the CA housing market. [1] https://en.wikipedia.org/wiki/California_Proposition_13_(1978) https://en.wikipedia.org/wiki/California_Proposition_13_(197... [2] https://financialtransparency.org/how-shell-corporations-undermine-schools-in-california/ https://financialtransparency.org/how-shell-corporations-und... [3] https://static1.squarespace.com/static/550356b8e4b02e0b159ae1c9/t/55bbdb0ce4b00d83ca270269/1438374668173/USC+Report+2015-05+-+Getting+Real+About+Reform.pdf https://static1.squarespace.com/static/550356b8e4b02e0b159ae...

friedman23 8y ago

Hermitian already mentioned the worst offender.I've lived in New York, Atlanta, Miami and San Francisco. San Francisco is probably the worst place I've ever lived.

RhysU 8y ago

> California is something like the 5th largest economy in the world... California's a big economy. But it's not (at least superficially) outsized relative to other parts of the United States that contain similar populations [0] [0] https://github.com/RhysU/states/blob/master/README.md https://github.com/RhysU/states/blob/master/README.md