So, as I start Plan 10, I am about $46 Billion USD under from where I started with the State’s Budget, and after eliminating State Income Taxes, State Corporate Taxes, and decriminalizing prostitution and some drugs, the people of California feel we feeling real good, and hopefully we are helping the homeless get back into society.
But, we have to “Pay to Play” because nothing is free, and $46 Billion has to come from somewhere, and somewhere needs to be properly paid by the “haves” and the “have nots”.
So, we have currently about 13.6 Million Households in California as of 2019, and with the elimination of State Income Taxes, Corporate Taxes, and the Decriminalization of Prostitution and Drugs, we are going to get real popular real fast. So, for number purposes, lets estimate we swell to 15 Million Households, and let’s predict that the balance between owners and renters holds at 45% renters.
With an average residential real estate rental price in California of approximately $1,700 USD today, with the changes detailed above, let’s say average rent in California slides to about $2,000 USD on Average.
Under my Administration, we would create a mandatory residential lease registration system for all Commercial and Residential Leases in the State of California. ALL REAL ESTATE LEASES IN THE STATE WILL BE REQUIRED TO BE FULLY REGISTERED ON THIS DATABASE. I would advocate legislature to enact laws to ensure no one will want to skirt this.
For Residential properties, a CALIFORNIA MONTHLY RESIDENTIAL LEASE TAX will be levied on all Residential Leases in the State of California as proposed below:
· Residential Real Estate Leases of $1.00 USD to $1,000 USD will have a monthly Tax of $0.00
· Residential Real Estate Leases of $1,001 to $2,000 will have a monthly tax of 2.0%
· Residential Real Estate Leases of $2,002 to $3,500 will have a monthly tax of 3.0%
· Residential Real Estate Leases of $3,501 to $5,000 will have a monthly tax of 4.0%
· Residential Real Estate Leases of $5,001 and above will have a monthly tax of 5.0%
With an estimated 6,750,000 Households being in the rental market, this lease program will generate close to $680 Million USD in California Tax Revenue each month, or approximately $8 Billion USD annually. This program again ensures that the higher end of the income scale pays the majority to the state taxes, while those families struggling are truly given a chance to move up the economic scale.
NOTE: This blog is only for conservational ideas and I have ‘zero point zero’ percent interest in running for any political offices.
The Score so far on State Budget:
Plan One: Eliminate California State Income Tax
· Resulted in $90 Billion Deficit
Plan Two: Decriminalize Prostitution in California
· Resulted in $1 Billion in State Revenues
· Still have a $89 Billion Deficit, but we have no State Income Taxes and we have Decriminalized Prostitution in California.
Plan Three: California Mortgage Tax
· Resulted in $7 Billion in State Revenues
· Still have a $82 Budget Deficit.
Plan Four: California Real Estate Transfer Tax
· Resulted in $30 Billion in State Revenues
· Still have a $52 Billion Budget Deficit.
Plan Five: Ending the California Homelessness Epidemic
· Resulted in increased state spending, followed by State Budget Savings over many years. Total costs, I could not even come up with a guess, but would try to work within the current budget by utilizing current state land owned, governmental facilities, and current government programs. I am calling it “Even Steven”
· Still have a $52 Billion Budget Deficit – but we have a No Income Tax State, Prostitution is Legal, the Wealthy are Paying their Fair Share, and the streets are less cluttered with homeless.
Plan Six: Ending the State Corporate Income Tax:
· Resulted in a loss of approximately Eleven Billion USD in Annualized Tax Revenues.
· $63 Billion USD Deficit
Plan Seven: Increasing the Gasoline Tax.
· Resulting in an additional $10 Billion USD in Tax Revenues.
· $53 Billion USD Tax Deficit. But…… no State Income Taxes, no State Corporate Taxes, Homelessness is under control and we have legal Prostitution.
Plan Eight: California Transient Lodging Tax
· Resulting in $337,625,000 in Tax Revenues
· Still have a $52.5 Billion USD Tax Deficit.
Plan Nine: California Cocaine, Magic Mushrooms & Peyote
· Resulting in $1.5B in new Tax Revenues
· Still have a $51 Billion USD Tax Deficit.
Plan Ten: California Residential Lease Tax
· Resulting in $8 Billion USD in Tax Revenues
· We will have $43 Billion USD Tax Deficit
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