Thus the new movement to repeal Prop 13. It makes no sense. But that’s another hot topic.
They’ll start with businesses because thanks to CA populism nobody cares about them. This will of course force out lots of small and medium size firms, particularly family owed ones, further exacerbating CA’s already epic income and wealth disparities. So glad I won’t be around to see it.
Income inequality is mostly driven from the top, ie the higher income people in CA like the stereotypical SV couples make lots more money than people at the bottom.
The poor in CA makes marginally more than the poor elsewhere, but the rich in CA makes a lot more than the rich elsewhere. That drives up housing costs that in turn hurts the poor.
Income inequality doesn’t necessarily mean the poor will get worse off, it could just be the rich gets better off.
Also, high housing prices don’t hurt the poor, because they are renters and rent growth hasn’t kept up with home price growth.
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[quote=“manch, post:163, topic:1179, full:true”
The poor in CA makes marginally more than the poor elsewhere…
[/quote]
No, they don’t. California has the highest poverty rate in the nation when wages are adjusted for purchasing power (any other metric is meaningless). The Sacramento Bee has run numerous articles on this.
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This is what liberals have in mind for hard working taxpayers
PITI + maintenance + minor repairs + PM = cash flow negative 
Are there investor-landlords buying rentals in SV nowadays?
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California has plenty of property tax revenue. No need to think of Prop 13, just forget about Porp 13