3 ms·
There are plenty of boneheaded policies in CA, but I'm not sure what's so "progressive" about cutting tax just because you've owned the house for longer.
by yongjik 4y ago
There are plenty of boneheaded policies in CA, but I'm not sure what's so "progressive" about cutting tax just because you've owned the house for longer.
- adastra22 4y agoIt’s not meant to be a tax cut. It’s meant to keep seniors from being pushed out of their home by rising property values.
- yongjik 4y agoYeah, in the same way lower minimum wages are meant to keep mom-and-pop store owners from going bankrupt.
- 29083011397778 4y agoThe argument I've heard is seniors getting priced out, and having to move. Considering what happens when a senior has to move away from their social group, doctor and other resources they know, I can see why that would be bad. But this leaves them as NIMBYs, preventing more housing. Without more housing, there are fewer people to charge property tax. So you're hit with the double whammy of less taxpayers, and less income from many of them.