California’s Proposition 15, the “Tax on Commercial and Industrial Properties for Educational and Local Government Funding Initiative,” has lost 51.9 percent to 48.1 percent. This measure would have taxed commercial and industrial property on their market value rather than purchase price. Residential properties would have still been taxed based on purchase price, with annual...
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Something unexpected happened in California on Super Tuesday. While most media attention was focused on the state’s presidential primary for the Democrat party, there was also one statewide proposition on the ballot, which would have authorized the state government to borrow $15 billion to repair and upgrade schools, to be paid for by raising...
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If a recession does hit in 2021, high-tax, high-volatility California is surely in for a rough ride.