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New Tax Rates in California

maybe you should rationalize your property tax system so that new people aren't paying for old people.
 
Man it seems like all I hear about lately is how crappy the economy is yet government spending apparently doesn't take a hit.
 
Originally posted by: Ns1
guess who's not buying a new car?

<----this guy right here
Click to expand...

This is going to prevent you from buying a new car? You know you can write off the sales tax on a new car this year. You don't even have to itemize. So figure the sales tax goes up 12%, but your marginal tax rate is 25%. You're better off now than before.
 
Originally posted by: ElFenix
maybe you should rationalize your property tax system so that new people aren't paying for old people.
Click to expand...

Well, the problem was that people who had been in their houses for decades and who paid very little for them and who were on a fixed income were losing their homes because they had artificially gone up in value and they couldn't pay the taxes.

I paid $220,000 for my home 10 years ago. As recently as 2 years ago I could have sold it for $600,000. If my taxes were based on the value of the home at the time my taxes would have gone from about $2500 a year to $9000 a year. That's an increase of $542/month. Of course we didn't sell our house so we didn't realize any gain on it. Why should we have to pay taxes on an artificial value?

Imagine someone who is retired and living on a fixed income who bought their home 30+ years ago. How the fuck is that fair?
 
Originally posted by: JulesMaximus
Originally posted by: ElFenix
maybe you should rationalize your property tax system so that new people aren't paying for old people.
Click to expand...

Well, the problem was that people who had been in their houses for decades and who paid very little for them and who were on a fixed income were losing their homes because they had artificially gone up in value and they couldn't pay the taxes.

I paid $220,000 for my home 10 years ago. As recently as 2 years ago I could have sold it for $600,000. If my taxes were based on the value of the home at the time my taxes would have gone from about $2500 a year to $9000 a year. That's an increase of $542/month. Of course we didn't sell our house so we didn't realize any gain on it. Why should we have to pay taxes on an artificial value?

Imagine someone who is retired and living on a fixed income who bought their home 30+ years ago. How the fuck is that fair?
Click to expand...

It isn't fair but the current tax regime isn't exactly fair either. I'm in favor of re-assessing property values @ rolling ten year average. Unfortunately that's a political third rail in California.
 
Originally posted by: mugs
Originally posted by: Ns1
guess who's not buying a new car?

<----this guy right here
Click to expand...

This is going to prevent you from buying a new car? You know you can write off the sales tax on a new car this year. You don't even have to itemize. So figure the sales tax goes up 12%, but your marginal tax rate is 25%. You're better off now than before.
Click to expand...

oh, that's news to me.
 
Originally posted by: Ocguy31
Well all the whiney liberals dont want to cut social programs, so guess what? We have to raise taxes.
Click to expand...

I wonder at what point it is more beneficial for everyone to just stop working and take part in the social programs...
 
Originally posted by: Ocguy31
Well all the whiney liberals dont want to cut social programs, so guess what? We have to raise taxes.
Click to expand...

but i guess it's ok to cut teachers. capo district in orange county is thinking about eliminating kindegarten because it will rid 135 teachers.
 
Originally posted by: funkymatt
Originally posted by: Ocguy31
Well all the whiney liberals dont want to cut social programs, so guess what? We have to raise taxes.
Click to expand...

but i guess it's ok to cut teachers. capo district in orange county is thinking about eliminating kindegarten because it will rid 135 teachers.
Click to expand...

:thumbsup: Public school teachers are pretty worthless IMO.
 
Originally posted by: JulesMaximus
Originally posted by: ElFenix
maybe you should rationalize your property tax system so that new people aren't paying for old people.
Click to expand...

Well, the problem was that people who had been in their houses for decades and who paid very little for them and who were on a fixed income were losing their homes because they had artificially gone up in value and they couldn't pay the taxes.

I paid $220,000 for my home 10 years ago. As recently as 2 years ago I could have sold it for $600,000. If my taxes were based on the value of the home at the time my taxes would have gone from about $2500 a year to $9000 a year. That's an increase of $542/month. Of course we didn't sell our house so we didn't realize any gain on it. Why should we have to pay taxes on an artificial value?

Imagine someone who is retired and living on a fixed income who bought their home 30+ years ago. How the fuck is that fair?
Click to expand...

Precisely. My grandparents own a home very close to SDSU that my great-grandparents purchased in ~1914. My grandparents inherited it about 15 years ago. Last I heard it was worth well over 1/2 million. If they had to pay current property taxes they would have no choice but to immediately sell it.
 
Originally posted by: JS80
Originally posted by: funkymatt
Originally posted by: Ocguy31
Well all the whiney liberals dont want to cut social programs, so guess what? We have to raise taxes.
Click to expand...

but i guess it's ok to cut teachers. capo district in orange county is thinking about eliminating kindegarten because it will rid 135 teachers.
Click to expand...

:thumbsup: Public school teachers are pretty worthless IMO.
Click to expand...

Douchebag comment of the day!
 
Originally posted by: Ns1
Originally posted by: mugs
Originally posted by: Ns1
guess who's not buying a new car?

<----this guy right here
Click to expand...

This is going to prevent you from buying a new car? You know you can write off the sales tax on a new car this year. You don't even have to itemize. So figure the sales tax goes up 12%, but your marginal tax rate is 25%. You're better off now than before.
Click to expand...

oh, that's news to me.
Click to expand...

It does have to be a new car, not a used car that is new to you.
 
Originally posted by: Fingolfin269
Man it seems like all I hear about lately is how crappy the economy is yet government spending apparently doesn't take a hit.
Click to expand...

You can spend your way out of a recession! Change!
 
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