An Alert from the Howard Jarvis Taxpayers Association

NEW -> Contingent Buyer Assistance Program

BethN_IHB

New member
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TAXPAYER ALERT: Please act now!





California faces a $14.5 billion budget deficit because the


free-spending politicians in Sacramento have spent too much for too


long.





Instead of cutting wasteful spending in state government to pay down


the deficit and balance the budget once and for all, the


tax-and-spend majority in the Legislature wants to punish you and


every California homeowner by repealing the state home mortgage


interest deduction!





They think that this important tax savings, relied upon by millions


of Californians, is a "tax loophole" that must be closed.





What would repealing the home mortgage interest deduction mean for


you and your family?





- It would increase your state tax bill by hundreds of dollars or


more every year.





- It would hurt first-time homebuyers, especially those struggling


to scrape together enough money to buy their home.





- It would add another burden to those homeowners who already have


lost tens or even hundreds of thousands of dollars of equity in


their homes in the current market.





We need your help to stop the tax-happy politicians in Sacramento


from following through with their threat to take away the mortgage


interest deduction and impose a $5.3 billion tax increase on you and


every other California homeowner!





We must cut off this dangerous idea before it gains momentum.





Here's what you can do to get involved and stop the mortgage


deduction grab:





- Write or call Speaker Fabian Núñez (info below) and your own


Assemblymember and State Senator today, and tell them to keep


their hands off our mortgage interest deduction.





- Remind them that the mortgage interest deduction is not a


loophole, but important tax savings that help millions afford


their homes.





- Urge them to cut wasteful spending in the budget, not raise taxes.





THANK YOU IN ADVANCE FOR YOUR HELP!








How to contact Assembly Speaker Fabian Núñez:


E-mail: <a onclick="return top.js.OpenExtLink(window,event,this)" href="mailto:Assemblymember.Nunez@assembly.ca.gov">Assemblymember.Nunez@assembly<wbr></wbr>.ca.gov</a>


Phone: 916-319-2046





How to contact your own state legislators:


<a onclick="return top.js.OpenExtLink(window,event,this)" target="_blank" href="http://www.hjta.org/contact_legislature">http://www.hjta.org/contact<wbr></wbr>_legislature</a>
 
<p>Trooper</p>

<p>I'll try to get the language from HJTA. The specific proposition wasn't available (that I could find) on their website...<a onclick="return top.js.OpenExtLink(window,event,this)" target="_blank" href="http://www.hjta.org/">www.HJTA.org</a>. The post above was an email I received from them, as I am on their interest list.


</p>
 
I like how they want to cut spending.



85% of the budget is prisions, mediCAL, and schools. Schools are protected by Proposition, and they won't touch MediCAL or prisions so they just need to dump every other function of government.



Proposition 13 and Howard Jarvis are the sole cause of every deficit since 1977. Previous to Prop 13 California ran a surplus every year. Stupid.
 
How is this idea "dangerous"???





Based on consumer behavior, if this loophole were to be cut home prices would just go down. The average home buyer focuses only on their monthly payment after all is said and done. Get rid of this bonus (or the "renter's penalty" as I like to call it) and they'll just be able to afford less home for the same monthly payment. In other words, it would suck for current home owners but would not really matter much for prospective homebuyers.
 
BethN, good article <a href="http://www.ocregister.com/opinion/tax-state-prop-1958204-property-let">Opinion: Kill Prop. 13 at your own risk - OCRegister.com</a> Thanks.
 
<p>What's wrong with Prop 13 was the rate of increase that is capped below 2%.</p>

<p>Had they capped it at a rate that met the CPI for inflation, everything would of been fine.</p>

<p>Prop 13 is the ultimate in Libertarian ideals - cut off the money and the beast will starve. Problem is, we need a certain ammount of public services. Police, fire, prisions, mediCAL, schools............and the government keeps back dooring new taxes and assesments to pay for what Prop 13 slowly carves away from thier budget.</p>
 
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