Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (203856)	5/23/2009 12:25:42 AM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

California could easily cut $20 billion if they wanted to.

To: Think4Yourself who wrote (203856)	5/23/2009 1:06:30 AM
From: Bank Holding Company	Respond to of 306849

> They should have to get rid of proposition 13 before anyone at the federal level will even talk to them. < That's a great idea. The feds could offer to bail out California in exchange for repealing prop 13; using San Quentin and the Bay Bridge as collateral. <g> Problem solved.

To: Think4Yourself who wrote (203856)	5/23/2009 7:22:50 AM
From: saveslivesbyday	Read Replies (3) \| Respond to of 306849

Prop 13 has been the problem all along. I grew up in L.A. and watched the republicans push that through. It's an absurd limitation on RE taxes: Under Proposition 13, the annual real estate tax on a parcel of property is limited to 1% of its assessed value. This "assessed value," however, may only be increased by a maximum of 2% per year, until and unless the property undergoes a change in ownership. At the time of the change in ownership the low assessed value may be reassessed to full current market value which will produce a new base year value for the property, but future assessments are likewise restricted to the 2% annual maximum increase of the new base year value. en.wikipedia.org

To: Think4Yourself who wrote (203856)	5/23/2009 7:23:40 AM
From: saveslivesbyday	Read Replies (1) \| Respond to of 306849

Why don't they lease out space on Alcatraz? The views from the island are terrific!

To: Think4Yourself who wrote (203856)	5/23/2009 11:40:07 AM
From: ChanceIs	Respond to of 306849

>>> Congress will probably give them a bailout, and more money than they are demanding.<<< Gerry Ford told New York City to pound sand when it became insolvent back in '75 or thereabouts. One reason - and not a small one - that we got Jimmy Carter. You can't take away these large political entities right to a bail out. More of a third rail than social security. Anyone in the last 50 taken the White House w/o California is his hip pocket. Well I suppose "W" did, but it ain't easy.