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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (546165)	1/26/2010 12:36:13 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 1578185

Should be a net neutral. Some up some down...but we know what will really happen. Money grab.

To: Tenchusatsu who wrote (546165)	1/26/2010 12:49:19 PM
From: koan	Read Replies (1) \| Respond to of 1578185

>>Koan, > It was proposition 13 pure and simple. Repeal Prop. 13, and you'll end up raising taxes on the middle class. Pure and simple. Tenchusatsu<< Koan: "PROP 13 is an unfair and stupid tax exemption. And it was people with your mentality that put it in, now they are dead and leave behind a failed state. But in your mind, better a failed state than responsible taxes right? Proposition 13 was dumb, dumb, dumb and put California in the fix it is in now. And I do not think you can repeal it because of the way it was set up ergo the trap they set for themselves. Prop 13: "Proposition 13 (officially titled the People's Initiative to Limit Property Taxation) was an amendment of the Constitution of California enacted in 1978, by means of the initiative process. It was approved by California voters on June 6, 1978. It was upheld as constitutional by the United States Supreme Court in the case of Nordlinger v. Hahn, 505 U.S. 1 (1992). Proposition 13 is embodied in Article 13A of the Constitution of the State of California[1]. The most significant portion of the act is the first paragraph, which capped real estate taxes: Section 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed One percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties. The proposition's passage resulted in a cap on property tax rates in the state, reducing them by an average of 57%. In addition to lowering property taxes, the initiative also contained language requiring a two-thirds majority in both legislative houses for future increases in all state tax rates or amounts of revenue collected, including income tax rates. It also requires two-thirds vote majority in local elections for local governments wishing to raise special taxes. Proposition 13 received an enormous amount of publicity, not only in California, but throughout the United States.[2] Passage of the initiative presaged a "taxpayer revolt" throughout the country that is sometimes thought to have contributed to the election of Ronald Reagan to the presidency in 1980. However, of 30 anti-tax ballot measures that year, only 13 passed.[3] A large contributor to Proposition 13 was the sentiment that older Californians should not be priced out of their homes through high taxes.[4] The proposition has been called the "third rail" (meaning "untouchable subject") of California politics and it is not politically popular for Sacramento lawmakers to attempt to change it.[4]