In California, Proposition 19 was placed on the ballot by the State Legislature, guided by Kevin Mullin of San Mateo. This Proposition was written to garner broad support among state voters to do what? To put money into the hands of: REALTORS. You know: the scoundrels who suck money from property sellers who have assets in real property. These agents often promote their services as essential to any and all real estate transactions. They do very little work as they take almost 20% percent of the equity a seller has in the property.
The National Assoc. of Realtors pushed the proposition with money equal to $49 millions of dollars. The California Board of Realtors spent an additional $1.5 millions. Hmmm seems like an unlikely issue to draw so much money. The realtors hope that something will change in their favor. They expect more sales, more commissions. The mothers' milk of real estate= commissions, of course.
The wording of the proposition tells the story: if an owner passes away and his heirs inherit the property, the property will no longer enjoy a property tax that existed for the deceased. The tax will now be assessed to market value, obliterating the Proposition 13 mandate of maintaining the existing tax rate for the immediate family. Results are not hard to figure: most heirs will be forced to sell, unable to pay the new annual tax amount. Winners=realtors; losers: families of middle class owners. The state legislature rightly assumes that this will bring billions more property tax revenue into state coffers for politicians to spend as THEY see fit.
So Kevin Mullin is the new tax and spend poster boy for the Democratic Party, the one party of California, formerly a 2 party state. Welcome to the State of Socialism.
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