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Politics : Bill Clinton Scandal - SANITY CHECK
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To: MulhollandDrive who wrote (4709)9/22/1998 3:15:00 PM
From: Lizzie Tudor  Read Replies (2) of 67261
 
bp, yes the way your state does it is I think the way it should be.

There are some Ca lawyers on this thread that seem to know more than me, however I think that there was no effort to do anything about this law until a few years ago, for the simple reason that there werent enough younger voters. The politicians wont touch it for good reason I suspect. A little progress was made recently where the mgmt of some of the tech companies pushed on Tom Campbell about it, because they know that the cost of living makes the quality of life too low to attract good workers. Theres all kinds of other ramifications such as congested freeways etc because all the houses next door to Cisco and Oracle are filled with people that have lived there for 20 years, making virtually everybody into a long range commuter. Anyway the compormise was the 500K federal tax exemption when you sell your house? Thats a new law supported by Campbell specifically targeted at these Ca homeowners who have made a bundle on their tract home in Silicon Valley.

I agree that an across the board tax reduction would be a good idea, but even that would be an increase to these people, and they wont support it. These people pay nothing in taxes at all - under $500 in some cases.

If you are considering buying property in Ca make sure and look into this law because I firmly believe that if it is ever overturned property here will decline dramatically.

Michelle
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