2013: The Liberal Supermajority and Your Continued Success. Can they co-exist?
Happy New Year! 2013 is off to a great and very busy start with lots of positive investment activity. We are in full on acquisition mode. I may not be able to blog as much as I’d like over the next month, so I figured I would at least provide you with a snippet of one of my recently published articles.
This is Part 1 of 3 of my 2013 Commercial Real Estate Outlook. Please note: I have been right on 100% of my predictions for 2011 and 2012. Don’t believe me? Read 2011 and 2012 by clicking on the respective years.
Here’s to wishing you all a prosperous new year!
2013: The Liberal Supermajority and Your Continued Success.
Can they co-exist?
By: Nicholas A. Dunlap
You know them. They’re all around you. They are the 54% of voting Californians who chose to increase taxes on their wealthiest neighbors. In a move that makes about as much sense as taking a degenerate gambler to the racetrack or asking a drug addict to help get your prescription filled, a majority of Californians actually voted to continue the Sacramento spending spree (on us) for at least the next 7 years. Yes, this means that rather confront the true issue at hand, we will continue to play “kick the can” with our mess until we are forced to again confront the issue. And in the end, we all lose.
Now, 7 years is just the timeframe set forth in Prop 30. With the new liberal supermajority, we will soon be seeing new revenue collecting measures intended to be short-term, mid-term and long-term. That is, new and/or higher taxes, fee increases and rate increases. You know, the penalties that you get to pay for having made the sacrifices and becoming successful. Your charitable donations cannot save you. The State of California wants your money and will do what they can to take it from you.
You can almost hear Ronald Reagan now…“the nine most terrifying words in the English language are: I’m from the government and I’m here to help.” And so, as Starship Obama gears up for it’s second course in orbit, we are forced to deal with the stark reality of life in a world over-taxed. At the Federal level, we have seen the Bush tax cuts expire (at least they are set to expire as of the time of this writing). At the State level, most States fared better than California. That is, conservatives picked up ground. California lost not only in the State Senate and Assembly, but through tax increases as well. In spite of the heartbreak, grief, wallet strain and disappointment, you have a real estate portfolio to run. So let’s make sure that you take the right steps to preserve your wealth in 2013.