no wonder Calif is broke

"...another, perhaps unforeseen, effect of Prop. 13: Over time, it tends to place a greater tax burden on the young and the less wealthy, since the higher tax rates are levied on those with lower incomes and fewer assets.






DUH!



This was obvious to me immediately after that thing passed. Ok, not immediately, but soon after.



no wonder Calif is broke.



in this article you find out billionaires are getting off paying almost nothing:

http://goo.gl/7VoG
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