I recently visited a friend of a friend on “Billionaires Row” on Pacific near Lyon. They are extraordinarily wealthy aside from their magnificent home and could

I recently visited a friend of a friend on “Billionaires Row” on Pacific near Lyon. They are extraordinarily wealthy aside from their magnificent home and could easily afford the “correct” property taxes but since the home has been passed down for generations, they’re paying taxes on an assessed value that’s probably 1/50th of what it’s really worth. Just absolute madness that we subsidize ~hundred millionaires to the tune of $50k/year. It creates a literal landed gentry.