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You clearly don’t know the history of prop 13. It is untouchable because the last time they increase it, thousands of retirees and seniors on fixed income had t
by jelliclesfarm 6y ago
You clearly don’t know the history of prop 13. It is untouchable because the last time they increase it, thousands of retirees and seniors on fixed income had to sell their homes to pay the tax. Not everyone is a millionaire in CA. Most of the population is working class and can’t afford raising taxes.
California property values rose dramatically. NY and NJ are the worst places to own property. The whole housing depends on landlords and rent controlled apartments. Where they make money from insanely expensive utilities by strangling the poorest people. It’s a different kind of scam. Upstate NY is a whole different kind of hell with seven months of gray and knee high snow.
This is why there was no Silicon Valley in NY. This is why NY didn't create as many millionaires out of middle class and provide upward mobility to citizens as well as opportunities to immigrants. What’s NY’s GDP? What’s NY’s population? What’s NY’s total state tax revenue?
I’ll tell you. NY’s GDP is comparable to South Korea and is at 1.7 trillion. CA’s GDP is comparable to Great Britain and is at 2.97 trillion(highest in USA) NY population is 8.5 million vs CA’s 39.5 million. As an aside: our Ag income alone is in excess of 50 billion and that’s just 2% of our economy. We also have non millionaires and retired people on fixed income. NY’s taxes were around 73 billion vs CA’s total taxes were close to 450 billion.
NY is swimming in red ink due to deficits shortfalls ..2.8 billion in 3 months due to covid. Our tax income increased. I don’t think NY’s budget modeling is something for CA to emulate ..with all due respect. NY should do what it does and leave CA to Californians to vote and decide. CA is not NY. We are a country on our own. Our problems can’t be solved by anything that works for other states. The struggle is real.
Blind comparison is not useful or helpful.