Colman: JOB-KILLING CALIFORNIA STYLE

Guv Newsom is working hard to make sure business are closed—and stay closed.  He does not care to open schools, since that would allow parents to go to work.  By being inconsistent—and silly—he has assured that new businesses would not open.  The rules of today will not be the rules of tomorrow, so why invest in something the whim of an emotionally distraught Governor could change on a moments notice.  This, without concern for the destruction of the families of California.

 Under Proposition 15, an estimated $6.5 billion to $11.5 billion more would be available for California’s cities, counties, and school districts.

Suppose the current owner of commercial real estate has an annual property-tax bill of $1 million.  If Proposition 15 passed, the owner might have a much higher tax bill, perhaps as much as $3 million.

 The owner of commercial real estate would almost certainly increase the rents of businesses located on the property.

With higher rents, businesses would have several choices.  The businesses could pay the higher rent and presumably raise prices.  Or the businesses could relocate to another state or country.  The businesses could close down.  More ominously, the businesses could reduce, perhaps sharply, the number of employees.

You read that right, Guv Newsom wants to take upwards of $12.5 billion a year from the private secotr and transfer it to the government sector.  Money for schools?  They were failures as education facilities prior to the pandemic declaration.  Now they take the money and run, without providing even a Third World quality education.  Give them even more money>  That has to be a joke.

JOB-KILLING CALIFORNIA STYLE

By Richard Colman, Exclusive to the California Political News and Views,  7/14/20 

With unemployment levels in California now at levels not seen since the Great Depression of the 1930’s, a proposition on the November 2020 California ballot could increase joblessness.

 The measure, known as Proposition 15, could, if passed, increase property taxes on some commercial real estate holdings in California.

 Proposition 15 would allow government to place a higher property tax on certain commercial holdings in California.  The higher tax would be based on a commercial property’s market value rather than on the price at which the property tax was purchased.

Sponsor of Proposition 15 has been largely funded by the California Teachers Association and the Service Employees International Union (SEIU).  Also supporting Proposition 15 is the Chan-Zuckerberg Initiative.  Zuckerberg refers to Facebook’s chief executive, Mark Zuckerberg.  Dr. Chan, a physician, is Zuckerberg’s wife.

 Proposition 15 is known as the Split-Roll Initiative because taxes on some commercial property would rise while residential property-tax rates would not be affected.

 In 1978, California’s voters passed Proposition 13, which placed a cap on commercial and residential property taxes.  Proposition 13 required voters to approve, by a two-thirds vote, increases in property taxes.  Prior to Proposition 13, local tax assessors could set property-tax values.

 Proposition 15 of 2020, if passed, would repeal property-tax protections for commercial landlords who have more than $3 million in holdings.

 Under Proposition 15, an estimated $6.5 billion to $11.5 billion more would be available for California’s cities, counties, and school districts.

Suppose the current owner of commercial real estate has an annual property-tax bill of $1 million.  If Proposition 15 passed, the owner might have a much higher tax bill, perhaps as much as $3 million.

 The owner of commercial real estate would almost certainly increase the rents of businesses located on the property.

With higher rents, businesses would have several choices.  The businesses could pay the higher rent and presumably raise prices.  Or the businesses could relocate to another state or country.  The businesses could close down.  More ominously, the businesses could reduce, perhaps sharply, the number of employees.

 In May 2020, California had an unemployment rate of 16.3 percent.  The state has not had an unemployment rate this high since the Great Depression of the 1930’s.

 The passage of Proposition 15 is likely to kill jobs.

At a time of high unemployment, job-killing is not acceptable.

California’s voters should overwhelmingly reject Proposition 15.  California does not need more jobless people.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.

Comments

  1. California resident and will vote NO on any new taxes. It just goes to pensions. Get rid of ALL UNIONS.
    THEY ARE CORRUPT. Starting with the TEACHERS UNION.

  2. Really??? says

    So the Confederate Rebel Slick wants over $12 BILLION of your money.

    What’s new? Less than 2 months after the election he boasted he would take $6 Billion from the gas tax for bike paths. He doubled down on Brown’s promise to take $3 Billion from the same tax.

    He doesn’t care. He and Nancy and the rest of the radicalized Confederacy rebellion by Democrats do not care about rewarding initiative.

    Did you see that everyone of the destroyed cities are Democrat controlled?

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