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President Trump.

President Trump.

Old Apr 27th 2017, 11:33 pm
  #7726  
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Originally Posted by dc koop View Post
It was also the old folks who were losing their homes prior to the Prop 13 Howard Jarvis initiative. They couldn't pay the property taxes that the cities were jacking up year after year.

It didn't matter a hoot to the cities if they fell behind and their houses were put up for auction. A buyer would come along, purchase the house and the city didn't lose a dollar in revenue.
I always describe prop 13 as a terrible solution to a real problem. And a solution whose biggest beneficiaries have been the wealthy who have set up llcs to keep the low tax base of their properties. Oh, rather like the Trump tax plan...

Last edited by Giantaxe; Apr 27th 2017 at 11:40 pm.
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Old Apr 27th 2017, 11:41 pm
  #7727  
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Default re: President Trump.

Originally Posted by Giantaxe View Post
I always describe prop 13 as a terrible solution to a real problem.
I wonder if prop 13 is a real factor anymore? it doesn't last forever and how many homes have been under the same ownership for almost 40 years.
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Old Apr 27th 2017, 11:44 pm
  #7728  
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Default re: President Trump.

Originally Posted by johnwoo View Post
I wonder if prop 13 is a real factor anymore? it doesn't last forever and how many homes have been under the same ownership for almost 40 years.
It's a large factor given the increase in property values in much of California. You have llc'd properties in SF that are worth $10m plus that are paying less tax than suburban ranch houses, for example. Prop 13 was essentially a trojan horse in that it did give relief to some where it was needed - as dc koop mentions - but its long term effects are that the very wealthy and businesses have been the biggest beneficiaries. Really, the Trump tax plan is similar in that regard.

Btw, I have benefited financially from prop 13, but still think it was a terrible solution:

http://legal-planet.org/2017/01/12/h...ed-california/

Last edited by Giantaxe; Apr 27th 2017 at 11:55 pm.
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Old Apr 28th 2017, 1:47 am
  #7729  
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NAFTA's not so naff https://www.washingtonpost.com/polit...=.5c16d5b4cd88
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Old Apr 28th 2017, 2:58 am
  #7730  
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Default re: President Trump.

Originally Posted by Giantaxe View Post
It's a large factor given the increase in property values in much of California. You have llc'd properties in SF that are worth $10m plus that are paying less tax than suburban ranch houses, for example. Prop 13 was essentially a trojan horse in that it did give relief to some where it was needed - as dc koop mentions - but its long term effects are that the very wealthy and businesses have been the biggest beneficiaries. Really, the Trump tax plan is similar in that regard.

Btw, I have benefited financially from prop 13, but still think it was a terrible solution:

How Prop 13 Has Wrecked California | Legal Planet
It has it's flaws true enough but it saved many homeowners from losing the roofs over their heads. There has to be something very nasty and immoral when a government can raise taxes at will then evict people from their houses because they fall behind. These people paid taxes all their lives, paid for their kids to get through college kept up their mortgage payments. Living in retirement they deserve a measure of security,

I'm sure the State and city governments must be drooling at the mouth at the thought that 13 might one day be repealed. If they can await another 10-15 years there wont be hardly anyone around who benefited from it anyway.
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Old Apr 28th 2017, 7:28 am
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Default re: President Trump.

Originally Posted by Giantaxe View Post
That calculator is a joke - it doesn't even ask you what state you are living in so can't possibly deal even remotely correctly with the fact that state and local taxes (and real estate taxes) would no longer be deductible.

"Trump's chief economic adviser, Gary Cohn, said that deductions for charitable contributions and mortgage interest would be the only ones retained for individual taxpayers."

Trump tax plan would sock N.J. by killing property tax deduction | NJ.com
I agree that calculator is a real joke, I input various data to check out and some results didn't make any sense at all.

Watching the press conference wherein the Treasury Secretary described the plan, while much seemed positive, it did seem many questions were just answered by saying " just details to be worked out"- after bragging over 100 people worked on the plan.

It does seem though for low income earners the significant increase in the standard deduction will wipe out any federal income tax they have to pay- if renting a home, no other significant deductions under current tax policies- though I would have like to have seen a tax credit for social security tax paid by lower income earners and a surcharge for wealthy earners.

Last edited by morpeth; Apr 28th 2017 at 7:35 am.
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Old Apr 28th 2017, 10:07 am
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https://www.theguardian.com/us-news/...all-businesses
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Old Apr 28th 2017, 12:43 pm
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Default re: President Trump.

So first Trump's much ridiculed statement that he is surprised that being POTUS is more difficult than his previous job, but now:

Trump fears 'major, major conflict' with North Korea - BBC News


By and large, this is really not good.
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Old Apr 28th 2017, 2:23 pm
  #7734  
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Yet another

Lewandowski’s Firm Seems to Offer Trump Meetings - The Daily Beast
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Old Apr 28th 2017, 2:23 pm
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Default re: President Trump.

Originally Posted by Lion in Winter View Post
So first Trump's much ridiculed statement that he is surprised that being POTUS is more difficult than his previous job, but now:

Trump fears 'major, major conflict' with North Korea - BBC News


By and large, this is really not good.
He thought he could just play golf all day
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Old Apr 28th 2017, 2:51 pm
  #7736  
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Default re: President Trump.

And yet another that's obviously aimed at protecting his Big Donors assets & some off his & his families personal investment's

You have to read this ! because if you don't you would not believe how they intend to achieve there goal.

Rick Perry: Trump Might Seize States' Renewable Energy Goals

Last edited by Ingles; Apr 28th 2017 at 2:54 pm.
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Old Apr 28th 2017, 3:19 pm
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Default re: President Trump.

Originally Posted by Ingles View Post
And yet another that's obviously aimed at protecting his Big Donors assets & some off his & his families personal investment's

You have to read this ! because if you don't you would not believe how they intend to achieve there goal.

Rick Perry: Trump Might Seize States' Renewable Energy Goals
Rick Perry is dumb as a post. Lawsuits will fly if they try to pull that crap.

Trump is on tv now opening up off shore and arctic drilling. Licking the butts of of the oil industry. Depressing.

Last edited by dakota44; Apr 28th 2017 at 3:21 pm.
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Old Apr 28th 2017, 3:22 pm
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Default re: President Trump.

Originally Posted by dakota44 View Post
Rick Perry is dumb as a post. Lawsuits will fly if they try to pull that crap.
The Trump administration has not been too successful with lawsuits so far. They are really good at spending money though.
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Old Apr 28th 2017, 3:24 pm
  #7739  
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Default re: President Trump.

Originally Posted by Lion in Winter View Post
So first Trump's much ridiculed statement that he is surprised that being POTUS is more difficult than his previous job, but now:

Trump fears 'major, major conflict' with North Korea - BBC News


By and large, this is really not good.


Especially for the Japanese

10-minute warning: Japan instructs citizens on potential North Korea strike

https://www.rt.com/news/386092-japan...rike-guidance/

Last edited by mrken30; Apr 28th 2017 at 3:40 pm.
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Old Apr 28th 2017, 3:44 pm
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Default re: President Trump.

Originally Posted by mrken30 View Post
The Trump administration has not been too successful with lawsuits so far. They are really good at spending money though.
I think Cheeto Benito just likes the sound of it when he says "See you in court."

It's become his new 'You're fired.'
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