RE: [lpsf-activists] Flippers' Real Estate Tax (Prop G)

I agree about Phil’s presenting the issue well to those who know what he is talking about. not so sure about the average voter.
Francoise

Subject: RE: [lpsf-activists] Flippers’ Real Estate Tax (Prop G)
From: “Marcy Berry amarcyb@hotmail.com [lpsf-activists]”
<lpsf-activists@yahoogroups.com>
Date: Thu, August 14, 2014 12:55 am
To: “lpsf-activists@yahoogroups.com” <lpsf-activists@yahoogroups.com>

Huuuummmmm…Phil did a good job presenting the situation to those who know what he is talking about. So very true what Phil is saying.

Marcy


To: lpsf-activists@yahoogroups.com
From: lpsf-activists@yahoogroups.com
Date: Thu, 14 Aug 2014 00:44:57 -0700
Subject: [lpsf-activists] Flippers’ Real Estate Tax (Prop G) [1 Attachment]

[Attachment(s) from Aubrey Freedman included below]

Hi All. Here is Phil’s argument against the new surtax for those who buy property and keep it less than five years. Just cleaned it up a bit and changed very little content. Enough room at 296 words to list both organizations. Thanks for coming through, Phil. You didn’t rant and rave too much! Please review.

Don’t hate the players, hate the game. Real estate is a pawn in the game of global finance. Easy money here and easy money from abroad work to accelerate the unaffordability of San Francisco. This proposition does nothing to alleviate the driving force, but it is the blunt tool designed to punish small players at the end of the chain of money creation. The hated speculator. There would be no speculators if there was nothing to speculate on. They are speculating on inflation. The inflation is not their fault. They didn’t print trillions of dollars out of thin air.

What is also interesting about this proposition, like almost all politics these days, is that it exempts the big guys. Have more than thirty units, flip away.

This proposition also deters another class of speculators: the improvers. The small business that is good at renovating and doing it in a timely manner. The tax is many times the existing rate. It is effectively a ban with provisions for politically sensitive classes.

It is a universal law of human nature that every law has unintended consequences. It is likely that a new class of speculator will emerge. It will probably be the big corporations who have access to super cheap money, who can afford to let the property lie fallow for five years to avoid the tax while inflation rages on. Do you really want to punish the small guys who are not the cause of the problem, and reward the giant corporations that control and feed at the trough of the Federal Reserve’s cheap loans? Do you want to have another law that encourages more empty buildings waiting to escape another tax?

Vote NO on Prop G.

Libertarian Party of San Francisco

San Francisco Libertarian Campaign Committee

Thanks!
Aubrey

Posted by: francoise@thefieldingcompanies.com

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