Warren Buffett, Schwartzenneger & Prop. 13, the sequel

BBB, A gradual property tax increase would have been a lot more fairer than what we have today in California. Even in our block, there's a big difference in the tax bill even though all the homes are built from essentially the same plan. Many of us put in upgrades, because these homes are about fifty years old now, but there's a big difference between what we paid for our home, and what most of our neighbors paid. We paid $50,000, and most of our neighbors paid over $300,000, and most of these homes has a market value about $700,000. With Prop 13, the state cannot increase our property tax more than two percent per year. If most of us had to pay property taxes on it's actual value, most retired folks would be moving out of this area. We pay about $1,000 in property taxes, and most of our neighbors pay over $5,000.

Although Warren Buffett pointed out clearly that there is an inequity in property tax in California, Proposition 13 has been instrumentally for helping many people keep their homes. It might seems unfair to the younger generation because they are paying more but that is a cycled that the older people have gone through and they will too. Many years from now those that may be complaining about the high property tax will be happy to have proposition 13 when it is their turn to enjoy a lower rate than the next generation.

Ricardo, That's one of the major points; that the younger generation are paying more, because they use more of the public education system for their children which the older generation has already done. Other than that, though, it's hard to balance the cost of caring for older folks in our society against what we're paying into it. I think I saw a study once that seniors cost the medical health system the greatest amount during our last few months of life.

The cost for caring for the older generation is much higher compared to anywhere around the world. Some laws already made it easier for most to let go and not cost the medical system a ton of money. That is where those "Do Not Resusciate Form" comes in as well as Living Will which allows the doctors to pull the plug fasters.

For me the biggest difference however is in the cultural mindset. Asian Familiies takes care of their own old people and that there is no real need for "Homes for the Aged" and other geriatric care. The biggest fear of most Filipino Immigrants and Filipino-Americans in the United States is to grow old there, me included.

Asian cultures believes that the older generation deserved to be cared for by the family because they have done their part in supporting the family when they where younger. The responsibility of providing and caring moves from one generation to another and thus nobody feels cheated or obligated. It was such a natural cycle of life.

Proposition 13 and the Social Security Adninistration is exactly that. Asian-Americans will never be complaining about it because it is culturally acceptable. For the rest of the Americans, it might be a major concern.