Raising taxes on the wealthy is actually no different than the government’s saving” “You’ve stolen a ton of cash and we want a larger share of your theft.” The progressives are demanding a larger share of the money which the crooks have stolen in order to fund their own programs — not to rectify the wealth disparity. Yes, the underlying problem is not the tax rate but the vast corruption of both political parties to direct wealth to the top 1% and away from everyone else. Here is one example.
In 1915 Los Angeles City’s civil engineers did a study and said that density should not be restricted to the core, i.e. the Basin, or along certain main roads, i.e. transit corridors The only people who would benefit from concentrating density in the Basin or the transit corridors and would be the landowners, whose property values would increase (and developers of high rise and fixed rail transit), The biggest losers would be the far flung landowners throughout the urban area who did not get to have a modest business center because the city hall approved a 30 story tower on Bunker Hill, Century City etc. For decades, Los Angeles has thwarted middle class property owners in the valley and elsewhere from having the wealth which comes from reasonable density in their area. This has been a intentional transfer of wealth from the average land owner to the 1%. Taxing the 1% more will make restore the lost wealth to the landowners in the Valley.
With concentration of high rises on Bunker Hill, DTLA, Century City and now Hollywood, LA has the worse traffic congestion in the entire world. If all the density were not crammed together in such small areas, we would not have so many people trying to get to those centers at the same time. People forced into long commute also pay with their time for the 1% to become wealthier.
There is another profit center for the 1% at the expense of everyone else. Billions are spent on fixed rail transit.
The purpose of fixed rail INTRA-city transit like subways is not to provide reasonable transportation but three fold: (1) make money for the infrastructure contractors who build transit systems and then give a portion to politicos, (2) tie the transit to specific buildings to give those property owners a competitive advantage over property owners not so close. Buses can change routes to serve a new project which is why Garcetti and other crooks hate buses. (3) the horribly high cost to maintain fixed rail transit becomes a reason to increase density along the subway lines and thereby compounding the density problem, but making a select few property owners vastly more wealthy.
LA’s decades long transfer of wealth to the 1% is why it has the worse GINI Coefficient of any large geographic area in the nation. The density scam is only one example how wealth has been systematically transferred to the 1%. Taxing them more will do nothing to change the underlying corruption which is the actual problem.
A related scam is the hyping of the costs of homes so that buyers have to pay a million more than a home is worth in much of LA, and thus, they have to borrow hundreds of thousands more from Wall Street. Anyone who has bought a home in LA in the lat 5 years is paying the “Wall Street tax.”
http://bit.ly/2xjrJEt 9–21–17, CityWatch, What if Angelenos Stopped Paying the Wall Street Tax?