CA offers very few incentives to businesses and a whole lot of costly regulations and taxes to the extent that IBD, Fortune, WSJ, and other magazines, consistently score CA as business unfriendly. But, Covid’s quarantine has thousands of businesses dying or dead with no chance of coming back. The end result of all this bureaucratic overregulation and taxation has been a sharp drop in the State’s tax revenue. The knee jerk reaction to this is to simply raise taxes, which of course kills more businesses and so the cycle continues.
Prop 15 is a property tax hike on commercial property to raise 11.5 billion dollars for the greedy State of California. Businesses can’t afford to pay those billions, so naturally, they pass this additional cost on to the consumer. Any tax hike on business is really a tax hike on consumers because it is a pass-thru cost to the end-user. This is a basic principle of economics, something socialists appear not to understand. Vote NO on 15.
Prop 21 is a NO vote for the same reason as Prop 15. Prop 21 will allow unelected government officials to impose fees on apartments and single-family homes and that obviously will make the cost of housing in CA even more expensive.