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Politics : IMPEACH GRAY DAVIS! -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (895)	8/21/2003 2:33:04 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 1641

you can't win elections and challenge prop 13, but it can be overturned in the courts with a friendly legislature (people that are against prop 13) and I expect that will happen. The problem with Buffett's point was how he made it. What Buffett should have said (and maybe did) was that a young person pays 10K/yr in taxes and Buffett pays $1K/year for triple the house. It is the fairness aspect that is the issue. But what was reported sounded like Buffett thinks taxes are "too low, period". That will never play well. We'll just have to see how this plays. They keep running articles about poor little old ladies living in 4 million $$ houses who can barely get by if not for prop 13. The young are fuming about this and consider it a sham, so its really an old vs. young divide. I'm sure prop 13 is up for slaughter given the budget mess though. They don't need to overturn it completely just cut the RE investment loophole and raise the incremental appreciation % form 2% - 5% and eliminate grandfathering, things like that would go a long way to fix it. The tech workforce who paid a ton of income taxes in this state is getting gored with all this offshoring. Stock market gains like we had in the 90s are not coming back. Without these 2 items CA cannot provide the services it does with no tax base. Medical coverage is 50% higher than in the mid 90s when the budget started rising, so CA is screwed, Arnie Shultz and Buffett know it.