Paul L. Caron
Dean



Friday, October 9, 2020

Tax Policy In The Trump Administration

https://taxprof.typepad.com/taxprof_blog/2020/10/tax-policy-in-the-trump-administration-1.html

Tax, Tax Policy in the Trump Administration | Permalink

Comments

Thank you for the link to the article by Ira Stoll, Guess How the Times Knows So Much About Tax Losses Trump Uses. As the say on Laugh In, Very, very interesting.

Posted by: Abraham S Carnow | Oct 9, 2020 11:28:19 AM

Yes agreed. It is time to go after the big fish and collect tax dollars from them. Guys like Trump who pay out $750.00 in 15 years? Absurd. It is also time for the IRS to go after wealthy corporations who pay no tax! And to stop harassing the middle class. And it's also time while some revenue goes to the govt from billionaires and mega millionaires -- that all those tax breaks start going to folks in the middle class. Like property tax breaks in California, with Proposition 13 and Prop 58 to protect them. Since 1978 California has been the only state in the country where you can get a low Proposition 13 tax base, maxed out at 2%, working hand in hand with Proposition 58, to get the ability to exercise a “parent to child transfer” or “parent to child exemption (or “exclusion), so you can legally avoid property tax reassessment (at current high tax rates)… This has been a saving grace in California for beneficiaries or heirs inheriting a home from parents… with that parent to child transfer and property tax exclusion always there for home owners and beneficiaries... with the ability to avoid property tax reassessment -- even on a secondary property. And now, abruptly, the entire state finds out at the last moment, prior to the November vote, that something called Proposition 19 is rearing it’s ugly head, looking like it very well may pass due to deceptive marketing – with the ability to destroy California’s invaluable property tax exclusion. With it’s sinister sister, Proposition 15, lurching forward… to guarantee realtors and California tax collectors, that commercial and business property owners will no longer be able to avoid property tax reassessment either – claiming it’s “all for the schools and our kids…” when in fact, as property tax specialists will tell you, the real purpose behind Proposition 15 is to pay for unfunded pensions of California government workers… along with other generous benefits, salary raises and perks, as well as some very expensive, long term special interest government public works projects! It’s a rough accusation, however it does appear to be accurate. And once Prop 15 commercial and business property tax hikes kick in, the rents on stores, apt buildings, office buildings, and other commercial properties throughout California, will go sky high so all those middle and upper middle class business property owners can survive. This will inevitably cause everything you buy day to day in California – clothes, gas, food, pharmacy items, cars, electronics, computers, etc., i.e., all goods and services, to go way up in pricing, as an overall response to those landlords and commercial property owners increased property taxes! Californians will also lose the ability to get trust loans to fix conflicts between beneficiaries, buying out siblings that are inheriting the same property, however looking to sell their share; also called “a beneficiary buyout”, or “buyout of sibling property shares” You can research all this at https://californiaproposition58.org/2020/09/17/vote-no-on-california-proposition-19/ or you can go to an info-blog such as https://propertytaxtransfertrusts.com to get your facts… Or some other tax relief, Prop 13 and Prop 58 sites and blogs such as https://cloanc.com/tag/california-prop-58/ where you can also dig in and apply for a large loan to a trust! As we continue to struggle with this Pandemic, every other state in America should also have property tax relief and tax break systems to help struggling and unemployed citizens survive all this! That's what we all need right now, and going forward.

Posted by: Geoffrey Sadler | Oct 10, 2020 4:20:58 PM

It's time that the IRS start collecting from big corporations that pay no tax as well as all the mega wealthy individuals. And time to start giving those tax breaks to middle class families, like property tax breaks in California, with Proposition 13 and Prop 58 protecting these measures. Since 1978 California has been the only state in the country where you can get a low Proposition 13 tax base, maxed out at 2%, working hand in hand with Proposition 58, to get the ability to exercise a “parent to child transfer” or “parent to child exemption (or “exclusion), so you can legally avoid property tax reassessment (at current high tax rates)… This has been a saving grace in California for beneficiaries or heirs inheriting a home from parents… with that parent to child transfer and property tax exclusion always there for home owners and beneficiaries... with the ability to avoid property tax reassessment -- even on a secondary property. And now, abruptly, the entire state finds out at the last moment, prior to the November vote, that something called Proposition 19 is rearing it’s ugly head, looking like it very well may pass due to deceptive marketing – with the ability to destroy California’s invaluable property tax exclusion. With it’s sinister sister, Proposition 15, lurching forward… to guarantee realtors and California tax collectors, that commercial and business property owners will no longer be able to avoid property tax reassessment either – claiming it’s “all for the schools and our kids…” when in fact, as property tax specialists will tell you, the real purpose behind Proposition 15 is to pay for unfunded pensions of California government workers… along with other generous benefits, salary raises and perks, as well as some very expensive, long term special interest government public works projects! It’s a rough accusation, however it does appear to be accurate. And once Prop 15 commercial and business property tax hikes kick in, the rents on stores, apt buildings, office buildings, and other commercial properties throughout California, will go sky high so all those middle and upper middle class business property owners can survive. This will inevitably cause everything you buy day to day in California – clothes, gas, food, pharmacy items, cars, electronics, computers, etc., i.e., all goods and services, to go way up in pricing, as an overall response to those landlords and commercial property owners increased property taxes! Californians will also lose the ability to get trust loans to fix conflicts between beneficiaries, buying out siblings that are inheriting the same property, however looking to sell their share; also called “a beneficiary buyout”, or “buyout of sibling property shares” You can research all this at https://californiaproposition58.org/2020/09/17/vote-no-on-california-proposition-19/ or you can go to an info-blog such as https://propertytaxtransfertrusts.com to get your facts… Or some other tax relief, Prop 13 and Prop 58 sites and blogs such as https://cloanc.com/tag/california-prop-58/ where you can also dig in and apply for a large loan to a trust! As we continue to struggle with this Pandemic, every other state in America should also have property tax relief and tax break systems to help struggling and unemployed citizens survive all this! That's what we all need right now.

Posted by: Geoffrey Sadler | Oct 10, 2020 4:25:30 PM

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