Because she embodies the liberal elite - and the media will follow their masters. Taxes for thee and not for me.
in the name of the little people I want to see Arienron (GREAT!) and Warrenhole Buffet hold a joint press conference writing a nice fat check to the State of CA for reduction of the deficet. Or they could sell their property and re-purchase thereby relinquishing their prop 13 protections. Oh and they have to arrive by public transit.
Or, in the case of Laguna Beach Residents profiled in the Times, move to Beverly Hills and take a little profit.
Funny how that article never mentions the healthy Prop 13 discount she also enjoys.
The California government's primary focus, the thing at the top of the check list, is real estate. And that focus has paid off big time to many fine people.
Every decision must pass the real estate test but the tax dollars are coming from somewhere else. Things are even done to specifically tax the economy even further like causing artificial shortages of transportation between Riverside and Orange County and Air to El Toro.
Heck, where they could expand the tax base with El Toro, they are actually turning it into central park in the boonies. Thus the capital shifts from here to there landing quite nicely in the hands of people that deserve it.
Why risk all this for 1% when you have a historical downside risk of about 25%? Real estate is far more volatile than taxes...
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