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You have accurately described the current state of affairs. There have been a lot of unexpected knock-on effects. Among other things, it means Californian budg
by Kalium 7y ago
You have accurately described the current state of affairs.
There have been a lot of unexpected knock-on effects. Among other things, it means Californian budgets swing wildly according to how well the local economy is doing. Another is strongly encouraging the permitting of offices over residences, further contributing to an already painfully low supply of housing.
- bradleyjg 7y agoI don’t believe the status quo is no property taxes in California. Despite the fact that the only kind that’s allowed is bizarre and broken, they are still in place.
- Kalium 7y agoPlease accept my apologies. I can see I've been unclear. The situation you call for, depending largely upon income taxes for government revenue, is the status quo in California. As you correctly note there are property taxes. However, they comprise a lower percentage of state revenues than is typical among states. This situation has produced the aforementioned side-effects. I do hope that is clearer. Please don't hesitate to ask if you have any questions!
- bradleyjg 7y agoStability is good for governments but bad for people. If you hold the tax amount steady and vary income (or wealth if you want to go that direction) then you are necessarily going to to have a less progressive and more arbitrary system than if you vary taxes with income/wealth.