Posts Tagged ‘taxes’


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Thirteen Plus Forty


Wednesday May 16th, 2018   •   Posted by K. Lloyd Billingsley at 1:58pm PDT   •   0 Comments

June 6 will mark 40 years since California voters passed the People’s Initiative to Limit Property Taxation, more commonly known as Proposition 13. As its primary backers recall, “property taxes were out of control. People were losing their homes because they could not pay their property taxes, yet government did nothing to help them.”…
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How to Chip Away at the U.S. Government’s Debt to Apple


Thursday September 21st, 2017   •   Posted by Craig Eyermann at 6:40am PDT   •   0 Comments

According to CNBC, Apple Computer has loaned the U.S. government over $52.6 billion, where if the company were a foreign country, it would rank 22nd among the major foreign holders of the publicly-held portion of the U.S. government’s total public debt outstanding. That amount is just 0.2% of the entire public debt outstanding as…
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Decoding the Future for Social Security


Friday July 28th, 2017   •   Posted by Craig Eyermann at 5:47am PDT   •   0 Comments

Social Security’s Trustees have released their annual report for 2017, which updates their view of the fiscal health of the single largest government program in the United States. To provide some sense of scale, the program paid out $922 billion to 61 million Americans in 2016, for an average benefit of over $15,000 per…
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More Change Taxpayers Can’t Believe In


Friday July 14th, 2017   •   Posted by K. Lloyd Billingsley at 3:20pm PDT   •   1 Comment

As we noted, California taxpayers were the first to pay for the sexual-reassignment surgery of a violent criminal, Shiloh Heavenly Quine, who as Rodney Quine gunned down Shahid Ali Baig, a father of three, then stole his car. Taxpayers nationwide have also been footing the bill for sex-change surgery, and Congress just decided that…
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Tax Agency Deserves a Stop on California “Corruptour”


Monday March 27th, 2017   •   Posted by K. Lloyd Billingsley at 9:04am PDT   •   1 Comment

With the April deadline looming, taxpayers might ponder the prospects of filing a return in which they fail to account for millions of dollars. As it happens, that is the case with a California tax agency. According to Board of Equalization member Betty Yee, who is now state controller, the BOE misallocated $47.8 million…
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President Trump on the Budget and the Debt


Monday February 27th, 2017   •   Posted by Craig Eyermann at 4:12pm PST   •   0 Comments

Last week, on February 22, 2017, President Trump spoke to the press for the first time about the budget and the national debt while attending an informal federal budget meeting at the White House. Here are some quick quotes that stood out during his introductory remarks, first off, covering his impression of the overall…
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Government Goldfinger


Tuesday October 11th, 2016   •   Posted by K. Lloyd Billingsley at 9:02am PDT   •   1 Comment

President Obama has signed the United States Appreciation for Olympians and Paralympians Act, which “eliminates a tax penalty imposed by the Internal Revenue Service on medals or other prizes awarded to Team USA athletes during the Olympic and Paralympic Games,” according to a press release from Bob Dold (R-IL). Olympic athletes with adjusted gross…
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Bullet Train Railroads Property Rights, Taxpayers


Wednesday August 10th, 2016   •   Posted by K. Lloyd Billingsley at 9:35am PDT   •   1 Comment

As we noted, in Blazing Saddles the devious Hedley Lamarr (Harvey Korman) plots to build a railroad and has his eye on the land he needs. “Unfortunately,” he laments, “there is one thing standing between me and that property – the rightful owners.” As Ralph Vartebarian notes in the Los Angeles Times, California’s bullet…
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Proposition 13 Liars Exposed


Tuesday July 19th, 2016   •   Posted by K. Lloyd Billingsley at 4:53am PDT   •   1 Comment

In 1978, when Jerry Brown was governor, soaring property taxes were literally driving people from their homes. Embattled Californians responded with the People’s Initiative to Limit Property Taxation. This measure capped property tax rates for residential and commercial properties at 1 percent of the assessed value and prevented assessed value from growing more than…
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Government Waste Terrible for Taxpayers


Friday January 29th, 2016   •   Posted by K. Lloyd Billingsley at 5:26am PST   •   0 Comments

As we noted in 2014, the State Board of Equalization (BOE) headquarters in Sacramento has been dubbed the “Terror Tower,” with good reason. It has been plagued with invasive mold, leaking windows, burst pipes, unreliable elevators, falling glass and traces of toxic substances. Someone was looking the other way when this atrocity was built,…
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