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L.A. Manager Says City Should Seek Higher Tax on Property Sales

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Comments (1)
The answer is not to worsen an already staggering housing industry by increasing the cost to buy a home.

The constant mind set to keep spending higher when the city has already run a deficit runs counter to just plain common sense. What successful business gives everyone a raise when its in the red?

I don't think any government at any level should be able to raise a fee or any tax when it has acted so fiscally incompetent as to run a deficit.

What happened to all the property tax money that the cities and counties collected when the housing prices were so grossly overpriced due to the Wall Street debacle and "funny money" from banks who were passing the risk-buck to Fannie Mae & Freddie Mac? Was it spent like there's no tomorrow? All these things are cyclical and happen over and over. It CAN be done. Other cities and states have proved they can be financially responsible.
Posted by t6647m853 | Wednesday, August 22 2012 at 11:08AM ET
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