Why do people live in California? The weather is nice and so are the property taxes.
Unlike a lot of blue states where property taxes make home ownership all but impossible for working class and even middle class families, California has the 16th lowest property taxes in the country. These low rates have allowed California homeowners and businesses who predated the dot com boom to survive in a state and in municipal areas that are rapidly becoming unaffordable to all but a small few.
While housing prices are skyrocketing, property taxes are fixed at the time of sale with assessments limited to 2% increases a year due to Proposition 13 or the People’s Initiative to Limit Property Taxation.
The 1978 proposition dates back to a time when the state’s taxpayers protected their own financial interests. After a string of successful tax increases and debt hikes, Proposition 13 is on the chopping block. The choppers have been clever enough to introduce a partial repeal that will remove protections for commercial real estate while, for now, promising to preserve them for homeowners. But, it goes without saying, that Proposition 13 protection for homeowners will be the final stage of the assault.
Splitting the assault on commercial and residential real estate in two divides the opposition and allows it to be picked off separately by the oligarchy of unions, non-profits and dot coms that run California.
That’s why every other commercial on local television is either for Michael Bloomberg or the push to tax commercial properties at market value. The commercials are almost comically misleading, the most frequent offender features a supposed firefighter with a soul patch who claims that the money is needed to stop natural disasters from affecting schools. There are also ridiculous claims that the $11 billion in projected revenue is needed to save children from school drinking fountains tainted with lead.
Seven years ago, the Los Angeles Unified School District spent $1.3 billion to hand out 650,000 iPads to all its students, but, for some reason, didn’t get around to removing those lead pipes. California schools keep blowing through enough billions to finance a dozen small countries while always crying poverty.
And the guy behind many of those ads, Facebook’s Mark Zuckerberg, is the 4th richest man in the world.
With a net worth of over $79 billion, Zuckerberg could replace every pipe in California and not even notice the cost. But instead the Chan-Zuckerberg Initiative, the name of the charity and political organization of one of the world’s wealthiest couples, has spent $2.1 million to raise other people’s taxes even after Facebook had used Ireland as a tax shelter to avoid paying taxes in the United States.
Zuckerberg’s assault on Proposition 13 could wipe out small businesses in California as the tax increases from commercial real estate get passed down to small business tenants. Meanwhile Facebook is fighting the IRS in court over its Irish tax scam to avoid paying the $9 billion in taxes that it owes.
Facebook falsely claimed that its international headquarters was in Dublin even as an email by Sheryl Sandberg, its COO, admitted that it was a tax shelter and the “international headquarters” would be “tiny.” Instead of paying its taxes, Facebook’s CEO wants to raise taxes for small businesses.
Despite claims that this initiative is philanthropic, shifting the tax base from income tax to property tax would be personally profitable. The Facebook IPO was big enough to have had a significant impact on California’s budget. Zuckerberg was personally on the hook for $200 million. Other employees and investors were good for over $2 billion in state taxes. Additional stock sales the next year reportedly cost the Facebook boss billions in federal and state taxes. The Chan-Zuckerberg Initiative gets its funding from Zuckerberg’s Facebook shares. CZI is going to war against small business for its own profit.
Now read on about this jew boy zuckerberg wanting to screw all small businesses and people so he can make more money by having his company and himself go on not paying taxes at this SOURCE