Arnold's advisor says: raise taxes

[arcticpenguin]

http://story.news.yahoo.com/news?tm...3&e=1&u=/ap/20030815/ap_on_el_gu/davis_recall

Billionaire Warren Buffett, senior economic adviser to Schwarzenegger, gave voters a possible glimpse on one stance in Friday's Wall Street Journal, saying in an interview that California's property taxes are too low.
...
Aides promised the actor would eventually tell voters where he stands on the issues.

My understanding is that this is a comment by Buffett speaking for himself, and is not (yet) part of Arnold's official stance.

 

[shuize]

Yes, raise taxes. That'll bring everyone back to California all right. With advice like that it almost sounds like Warren is positioning himself to "buy low" when the whole state goes on the bankruptcy auction block and not even the illegals want to live there.

 

[Sundog]

I applaud it. Raising taxes is a hard reality that many Republicans aren't willing to face up to. Bravo to Arnold if he is courageous enough to put this in his platform.

Dubya's dad had the intestinal fortitude to raise taxes when it was necessary, even though it helped cost him the election. Dubya still acts like a kid with Daddy's credit card - who cares if we have to pay for it all someday? Whee! Let's spend the inheritance on wars and tax cuts!

 

[arcticpenguin]

Yes, raise taxes. That'll bring everyone back to California all right. With advice like that it almost sounds like Warren is positioning himself to "buy low" when the whole state goes on the bankruptcy auction block and not even the illegals want to live there.

Raise property taxes. As Buffett points out in the article, basing revenue primarily on income tax leaves government services in a bad way during economic downturns.

The services provided by government must be paid for one way or another. Sticking your head in the sand doesn't solve anything.

 

[Scorpy]

Raise property taxes. As Buffett points out in the article, basing revenue primarily on income tax leaves government services in a bad way during economic downturns.

The services provided by government must be paid for one way or another. Sticking your head in the sand doesn't solve anything.

Are you suggesting that if people want all these government services, they should be willing to pay for them? What are you? Some sort of Un-American nut?

 

[Clancie]

It figures Buffet would recommend raising taxes. He knows the money has to come from somewhere.

However, I question if he understands California well enough when he chooses property taxes. For example, I wonder if he realizes the effect of Proposition 13 had on creating the property tax disparity between long-time home owners and new home buyers who have been forced to largely shoulder the tax burden already? I also wonder if he is familiar with the ridiculous housing prices in California's major cities?

I'm not sure that someone like Schwartzenegger, someone who (not including his wife's income), earned $22 million last year and has a home with six acres in (of all places) Brentwood, plus a home in Malibu--is going to understand what a property tax increase would mean for a middle and lower income California home owners--and for those who are trying so hard to save up for their first home..

 

[Pyrrho]

Given the short period of time left before the election, the time is overdue for Arnold to make his views plain and public. This is his fiduciary duty as a prospective elected official. He has an obligation to state his position. He may choose to avoid that obligation, but if he does, he has no business running for public office.

 

[Ziggurat]

I'm not sure that someone like Schwartzenegger, someone who (not including his wife's income), earned $22 million last year and has a home with six acres in (of all places) Brentwood, plus a home in Malibu--is going to understand what a property tax increase would mean for a middle and lower income California home owners--and for those who are trying so hard to save up for their first home..

Depending on how its done, it might not have that big an impact on first-time home buyers. Higher taxes on real estate mean real estate isn't as valuable. Which means it's cheaper. The increase in taxes for a new home will be partially offset by the fact that mortgages will be lower. California's real estate market is pretty darn high right now, so it's not like there isn't room for a drop in prices. Sucks if you're holding lots of real estate, but for those near the bottom a property tax hike might not really hurt much. nd quite possibly a lot less than something like a sales tax increase.