Reply #10: Yes, this is why caps on property taxes tied to incomes are needed [View All]

[EVDebs]

Businesses don't change hands as often as residences in CA and with Prop 13's limitations make it like 'rent control' in NYC...and businesses reap huge tax benefits, cry they're being overtaxed when they are not, and Joe Sixpack gets stuck with the bill. In the meantime, businesses then outsource jobs and still cry they are being hurt !

"Corporate income taxes in fiscal 2003 accounted for 7.4% of all federal tax receipts, down from a post-war peak of 32% in 1952. With one exception (1983), last year’s percentage is the lowest recorded since data was first published in 1934. Even so, tax breaks for corporations (and their investors, particularly large ones) were a major part of the Administration’s 2002 and 2003 initiatives. If class warfare is being waged in America, my class is clearly winning"

www.commondreams.org/headlines04/0306-01.htm

This is clear evidence that we should switch tax systems with the federal government: give the property tax to the feds and give state/local governments the income tax ! You'll see action then...