http://www.bizjournals.com/sanfrancisco/stories/2009/07/06/story3.html
Dear Editor,
Please tell Jim Wunderman that property tax revenues have been rising
without a constitutional convention to revise Prop. 13. According to
the Board of Equalization
(http://www.boe.ca.gov/annual/pdf/2007/table14_07.pdf) -total property
taxes collected in 2006-07 were $43.16 billion. The oldest property tax
stats at www.caltax.org <http://www.caltax.org/> are for 1980-81. That
year, property tax revenue was $6.36 billion. Property tax revenue
increased by 579 percent since Prop 13 was implemented. During that
time, the population went from 24 million to 38 million-an increase of
58 percent.
According to the Legislative Analyst's Office's budget database
(http://www.lao.ca.gov/laoapp/LAOMenus/lao_menu_economics.aspx) , in
1980-1981, total general AND special fund revenue for California was
$22.1 billion. For 2006-07, it was $120.7 billion. That is an increase
of 555 percent. PROPERTY TAX REVENUE WENT UP FASTER THAN OTHER SOURCES
OF REVENUE!
Our own Federal Reserve Bank of San Francisco recently published an
article
<http://rs6.net/tn.jsp?et=1102620892793&s=2969&e=001rqUmD3ehEhQkVfV7gV-v
Kb6OZClAj7oFxgrqhMlwcD6GVuRR7AjVwv1DFAGvIMYXpxOs0jpQ8aQNz57UGqYO3ZBPnzOt
d5vok33Q1J_qIaACAJgqt-RiHdaZ57nZzSLVgn3EG5cDDNvWsjPv7_BI6jqQfZ1ZzUWhUO1e
Atmn5TStFTljM0TfDeOpE6vU3X5z> reporting that a dollar of government
spending results in 70 cents of job-creating activity after two years. A
dollar in tax cuts results in $1.30 to $3 of job-creating activity after
two years. Does anyone out there get this? Government spending has a
REVERSE "multiplier" effect on private sector (read tax payers) jobs.
Shouldn't that raise questions about the tax increase "reform" agenda of
the Bay Area Council, a supposedly "business backed public policy
group"? Any business person who isn't taking government money who backs
these "reforms" is slicing their own throat. Why would the Business
Times give the Bay Area Council the time of day much less a whole series
of articles covering their misconceived ideas?
California is broke because the progressives who run this state have
voted for every spending program placed in front of them, and made the
state a haven for tax consumers. Period!
Michael F. Denny
President
American Wine Distributors, Inc.
Pier 23 The Embarcadero #201
San Francisco, CA 94111
(415) 986-7677 x123
mike@...