A bizarre new property tax illustrates how progressives don’t even understand how building owners hate “non-performing assets,” writes Jon Coupal, in a column entitled, “Vacancy taxes: California’s latest crazy idea.”
His column has frequently recounted how ideas coming from California’s progressive politicians are not just destructive, but also how most result in outcomes diametrically opposite of what the left actually thinks they will have. Examples of this phenomenon are legion.
He writes: “Take high speed rail (please). It was sold as a “climate change” project because, in theory, it would reduce greenhouse gas emissions by getting cars off the road. But it turns out that the construction of the project — a massive endeavor requiring thousands of trucks, destruction of farmland and millions of tons of concrete — has been spewing massive amounts of CO2 into the air. …
“The latest example of a progressive policy that will do more harm than good involves the levying of “vacancy taxes.” The idea here is to somehow punish, er, ‘incentivize’ property owners who, for whatever reason, are unable to rent their properties.”
(To understand the who, what, when, where & why more companies & people are exiting the state, see “Why Companies Leave California” — scroll down for summary.)
Read more of the above column here.