Sweeping Reform Would Tax Capital Gains Like Ordinary Income

Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by gumby on Sunday April 07, 2019 @12:08PM (#19597687)

Prop 13 caused lots of problems and also provided structural social benefits, allowing people to stay in their homes.

Removing prop 13 from commercial buildings (nobody lives there) and removing the socially corrosive ability to give it to your kids tax free would fix most of the financial and social problems and preserve the best part.

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Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by sologoub on Sunday April 07, 2019 @01:08PM (#19598202)

Or better yet, remove corporations from being eligible to enjoy prop. 13 all together - whether commercial, industrial, farm or residential.

This would keep grandma in her home or farmstead, but prevent corps from selling, but doing tax free exchanges and preserving the low tax base forever.

PS, mark-to-market is a terrible idea and these gains are not income for most people until sold. We already have property taxes, we just need them to work.

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Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income by amluto on Sunday April 07, 2019 @04:59PM (#19599833)

I think it should be removed from everything except an owner-occupied primary residence. I see no social benefit to giving a tax advantage to long time landlords.

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