Readers React: A recession looms. California Democrats are about to have a lot less money to spend
To the editor: Columnist George Skelton expresses unusual optimism that the Democrats in Sacramento will not go overboard on new taxes. In the past, Skelton has suggested a willingness to modify Proposition 13 as a new revenue source. Not a good idea.
Property valuations and real estate sales are already being affected by last year’s federal tax reform law. We see more and more “open house” signs in our neighborhood every weekend. My sister-in-law just sold her home for 20% less than the listed price a year ago, when it first went on the market.
And, with the recent dramatic drops in the stock market, there will be fewer millionaires paying capital gains taxes in California than in the recent past. Democrats had better tighten their belts and learn to live with a new reality.
Thomas Oatway, Valencia
To the editor: Skelton needs to get over the fact that the Democrats in California won.
He keeps writing we should all look out because Democrats spend money. Has he ever looked at Washington?
The Republicans who are in charge there spend money too, but they give it to corporations and the richest taxpayers. At least with Democrats, we have a fighting chance that the rest of us may get some of the pie through education, healthcare, infrastructure and housing for homeless people.
We in California knew what we were doing when we voted for Democrats. It’s called sharing or paying it forward. We will all reap the benefits down the road.
Janet King, San Diego
A cure for the common opinion
Get thought-provoking perspectives with our weekly newsletter.
You may occasionally receive promotional content from the Los Angeles Times.