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CA: Reformers want Prop. 13 loopholes filled
OC Register ^ | 4/7/04 | Chris Knap AND Hanh Kim Quach

Posted on 04/07/2004 10:17:23 AM PDT by NormsRevenge

Edited on 04/14/2004 10:06:56 PM PDT by Jim Robinson. [history]

SACRAMENTO Tax reformers challenged Gov. Arnold Schwarzenegger on Tuesday to eliminate corporate loopholes in Prop. 13 that they say have cost the state billions since 1978.

"There is a hole at the heart of our tax system crying out for reform," said Lenny Goldberg of the California Tax Reform Association, a nonprofit backed by labor and teachers. "There was never any promise to large corporations that they wouldn't be reassessed under Prop. 13, and there's no reason for not doing it."


(Excerpt) Read more at 2.ocregister.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; Politics/Elections; US: California
KEYWORDS: calgov2002; filled; loopholes; prop13; reformers; want

1 posted on 04/07/2004 10:17:24 AM PDT by NormsRevenge
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To: *calgov2002; california
.
2 posted on 04/07/2004 10:17:49 AM PDT by NormsRevenge (Semper Fi Mac ... Become a FR Monthly Donor ... Kerry thread archive @ /~normsrevenge)
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Related story - Technicality lets businesses slide


3 posted on 04/07/2004 10:20:29 AM PDT by NormsRevenge (Semper Fi Mac ... Become a FR Monthly Donor ... Kerry thread archive @ /~normsrevenge)
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To: All

Donate Here By Secure Server

4 posted on 04/07/2004 10:22:28 AM PDT by Support Free Republic (Freepers post from sun to sun, but a fundraiser bot's work is never done.)
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Excerpted from above article -

Hundreds of companies use loopholes in California's Prop. 13 to avoid a property-tax reassessment when they buy a business - costing the state hundreds of millions in tax revenue every year.

When a family moves up to a larger home, avoiding a tax reassessment at market value is almost impossible. But corporations, partnerships and joint ventures can legally structure a sale to avoid a reassessment. The key is how state law defines a change in control of a company.

Over the years there have been several attempts to tighten the definitions, but they failed in the face of opposition from businesses.

geeez, those Evil businesses... depriving the state of proceeds. life is so unfair.

5 posted on 04/07/2004 10:25:02 AM PDT by NormsRevenge (Semper Fi Mac ... Become a FR Monthly Donor ... Kerry thread archive @ /~normsrevenge)
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To: NormsRevenge
Let me turn on my trusty whiz-bank newspaper article de-coding machine.

Wait a second, wait . . . okay, there we go!

[churkle, churkle, ssss, cough, boom]

Result: whenever the phrase "teacher's union" and the phrase "tax reform" appear in the same newspaper article, the reader may assume "tax reform" can be de-coded as "higher taxes."

6 posted on 04/07/2004 10:29:53 AM PDT by stayout
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To: NormsRevenge
No, no, no. Prop 13 was a tax revolt against the People's Republic of Kalifornia for taxes that were TOO HIGH. For some provision to constitute a "loophole", it would have to let the state collect taxes the drafters didn't foresee. Anything that reduces taxes is in keeping with the spirit of the initiative. Take an English class, commie ba$tard$!
7 posted on 04/07/2004 10:35:15 AM PDT by Still Thinking
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To: NormsRevenge
PROBLEM: Businesses fleeing in record numbers due to incredibly high taxes to pay for social programs shrinking the tax base and leaving many unemployed

SOLUTION: Make the businesses that have stayed pay more taxes.

California....these folks are teaching your kids.
8 posted on 04/07/2004 10:49:39 AM PDT by Arkinsaw
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To: NormsRevenge
"Reformers?" ROFL! What they want to do destroy California's delicate economic recovery with massive tax increases on job-producing businesses. That's a solution to California's fiscal woes, alright.
9 posted on 04/07/2004 12:53:56 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
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To: NormsRevenge
These ideas are just another way to raise taxes. Any tax on businesses or property owners is always passed on to the consumer.
10 posted on 04/07/2004 1:06:17 PM PDT by Uncle Hal
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To: NormsRevenge
Schwarznkennedy is trying everything he can think of NOT to raise taxes.
11 posted on 04/07/2004 1:08:26 PM PDT by Saundra Duffy (For victory & freedom!!!)
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