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I’d be a lot more interested if they’d fund it via property tax instead of VAT. Since California has such severe restrictions on housing construction, anything

I’d be a lot more interested if they’d fund it via property tax instead of VAT. Since California has such severe restrictions on housing construction, anything that puts more money in people pockets just gets absorbed by higher rent. The entire CA game is the fixed supply of housing eating up most of the economic output of individuals who aren’t grandfathered in. So if you’re going to fix it, collecting against the property owners who have spent decades greatly enriching themselves by making it prohibitively difficult for anyone new to move in would be a good start. Then when you go to try and remove the barriers to housing supply, they’d suddenly have a lot more reason to get on board (or at least get out of the way).

gok 7y ago
Prop 13 essentially makes raising revenue through property taxes impossible in California.
reaperducer 7y ago
I’d be a lot more interested if they’d fund it via property tax instead of VAT. Since California has such severe restrictions on housing construction If you increase property taxes, doesn't that make housing developers less likely to build high-value, high-density housing? And don't the property tax increases on existing housing just get passed on to the renters? I've never rented in California, but I've rented in 13 other states, and in the handful of cities where I've lived during a property tax increase, the rent went up quite a bit (especially Chicago). One place even itemized it on the rent statement.