Quote:
Originally Posted by tabs
You as Property Owner ARE THE ENEMY OF THE PEOPLE...and your wealth is being shared/redistributed to the less fortunate among us. Instead of btching and whinoing you should be proud that you can share some of your bounty.
You see you have something that can be taxed even in a tangential fashion of a rent moratorium... and the system will continue to grab what you have until you have nothing, because they are desperate and are grasping. .
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Directly quoted from California Assembly Bill 1199 proposed earlier this year, a “privilege tax” on rental properties:
“Existing law imposes various taxes, including taxes on the privilege of engaging in certain activities.
This bill would impose an annual excise tax upon a qualified taxpayer, as defined,
for the privilege of renting or leasing out qualified property, as defined, in this state
at a rate of 25% of the gross receipts of the qualified taxpayer that are derived from rental income.
The bill would require the California Department of Tax and Fee Administration to collect the tax pursuant to the Fee Collection Procedures Law and would require all amounts collected, less refunds and administrative costs, to be deposited in the Homes for Families Fund, which the bill would create. Upon appropriation, the bill would require that moneys in the fund be used for specified purposes relating to rental assistance, homelessness, affordable housing, and housing counseling services.”