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California is chasing wealth that has feet

293 points · 870 comments · idbnstra

  1. Ancalagon · · focus · HN ↗
    [flagged]
    1. 999900000999 · · focus · HN ↗
      And it will never be repealed.

      Old voters like the house they brought 20 years ago for 100k being worth 1.5 million today. They also like not paying taxes on that 1.4m in wealth accumulation.

      1. Ancalagon · · focus · HN ↗
        I mean, I do too. Mine just happens to have been bought before the last inflationary cycle.
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