Excise Tax on CA Property Owners for Renting or Leasing Property in New Bill - California Globe

Jussaying#1423

Wow this is stupid. They want to tax Gross receipts (not net), and then prevent landlords from raising rent. Some of those landlords are barely making a profit. If you tax gross receipts, these business LOSE money for the privilege of providing homes to folks. I also like how the percentage was left blank. And how there was an urgency clause which prevents responsible business owners from doing things like preparing a budget. They are talking about LLCs and limited liability partnerships - i.e. the small guys with only a single property or a few properties (which are the least likely to have political capital do protest, and also the most likely to be operating on slim margins). For all the democrats talk about going after "big business" and the "super-rich" they sure have a funny habit of going after small businesses.

The money for a business to pay for this has to come from somewhere. I fully expect the end result to be lower maintenance. Those poorly repaired, half-the-lights-out-in-the-hallway apartments that everyone complains about? Get ready for them to be all-the-lights-out-in-the-hallway apartments.

I don't see how anyone who actually works in this state make a living with all your taxes.