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Re: 'The real truth about the opponents of Proposition 13' [Village News, Letter, Maynard, 2/21/19]

 

Last updated 3/8/2019 at 5:22pm



I have a vested interest in Proposition 13. As a homeowner, I have been a beneficiary of it since its inception and, at age 86, hope to continue to be so. As such, I share the concerns of the author of the subject letter; however, there are two changes that should be made: first, commercial property should be excluded and second, when Proposition 13 property is transferred by inheritance, it should retain Proposition 13 status only if it continues to be a personal residence.

I’d like to expand on the subject letter’s reference to those who pay no income tax. There are two categories: one category comprises those who do not have an income that reaches the taxable level. That could be remedied in many cases by employers paying a living wage. Unfortunately, that remedy has been out of favor among employers for more than three decades.

The second category comprises businesses that use tax law loopholes to reduce their taxes to zero. Large businesses spend millions on lobbyists to get those loopholes, loopholes that save them multi-millions. One recent example is Amazon. For 2018, with a profit of $11.2 billion, Amazon will pay zero federal income tax. A wealth tax would be a “fair” solution to this problem.

John H Terrell

 

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